Extension of Convertible Loan Notes
Convertible loan notes with £307,894 face value extended to mature 31 December 2025.
- Convertible loan notes outstanding £307,894
- Original face value issued £655,000
- New maturity date 31 December 2025
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Roquefort Therapeutics (LSE:ROQ), the Main Market listed biotech company focused on developing first in class medicines in the high value and high growth immunology and oncology markets, announces that it has agreed with the holders of its convertible loan notes ("CLNs") to extend the maturity date to 31 December 2025.
On 23 May 2024 the Board resolved to issue CLNs with a total face value of £655,000. After taking into account previous conversions, there are currently CLNs with a total face value of £307,894 outstanding ("Remaining CLNs"). The Remaining CLNs were due to mature today ("Maturity Date"); however, the Company has agreed with the holders of the Remaining CLNs to extend the Maturity Date to 31 December 2025. All other terms and conditions of the CLNs remain unchanged.
Stephen West, Roquefort Therapeutics Chairman commented:
"We are pleased that the holders of the Remaining CLNs have agreed to extend the maturity date to the end of the year. This allows us sufficient time to focus on completing the previously announced Lyramid and Oncogeni transactions, whilst assessing other clinical stage assets and/or revenue generating life science businesses for possible M&A activity."
Regulatory Information
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