Issue of £1.5m of New Convertible Loan Notes
Everest Global plc has raised £1.5 million by issuing six unsecured convertible loan notes of £250,000 each to Surich Real Estate Opportunity Fund SPC, a related party due to Mr. Ziwei Peng's controlling interest in both entities and his existing 24.55% stake in the company. These notes, convertible into ordinary shares at £8.00 each and carrying a 6% annual coupon, have a three-year term and will fund working capital, capital expenditure, and strategic acquisitions in the beverage distribution and production sector.
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Everest Global plc announces that it has raised a further £1.5 million under the £50m Loan Note Instrument originally announced on 16 August 2024. The Company has issued six unsecured convertible loan notes ("CLN") of £250,000 each to Surich Real Estate Opportunity Fund SPC ("Surich Real Estate" or the "Noteholder"). The Company received the funds on 25 November 2025.
The loan notes are convertible in new ordinary shares at a price of £8.00 per share and carry a coupon of 6% per annum. The loan notes have an initial term of three years.
Surich Real Estate is wholly owned and controlled by Mr Ziwei Peng. Mr Peng is the owner and controller of Golden Nice International Group Limited, which holds a 24.55% interest in the issued share capital of the Company. Given Mr Peng's holding in the Company, the issue of the CLNs to Surich Real Estate constitutes a related party transaction for the purposes of Rule 7.3 of the Disclosure Guidance and Transparency Rules.
The Company is issuing the CLNs to provide funding for its working capital and capital expenditure requirements and to support the implementation of its strategy, as described in its prospectus dated 31 October 2023, to pursue one or more additional acquisitions of businesses (whether by way of share or asset purchases) in the beverage distribution and production sector in the UK and across Europe.
The material terms of the Loan Note Instrument are as set out in the Company's announcement dated 16 August 2024. Defined terms in this announcement shall have the same meaning as set out in the Company's announcement dated 16 August 2024.
The directors of the Company accept responsibility for the content of this announcement.
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