Purchase of Kirkstall and CLN - Correction
Imaging Biometrics Limited (IBAI) has issued a correction to its previous announcement regarding the purchase of Kirkstall Limited and a convertible loan note (CLN) with Truetide plc. The correction pertains to the conversion price of the CLN, which is £0.0075 per Ordinary Share. The CLN bears interest at 6% per annum, accruing and adding to the loan balance. The loan is unsecured and subordinated and can be converted into IBAI Ordinary Shares at Truetide's discretion, either wholly or partially, at the lower of £0.0075 or the subscription price of any fundraising completed by IBAI before conversion. The final redemption date for the CLN is December 31, 2027. All other details from the original announcement remain unchanged.
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The following amendment has been made to the Purchase of Kirkstall Limited and CLN with Trueside plc announcement released on 14.10.25 at 7am.
The conversion price of the convertible loan notes is £0.0075 per Ordinary Share. All other details remain unchanged.
The full amended text is shown below:
The CLN bears interest at 6% per annum, which will accrue and be added to the loan balance. It is unsecured and subordinated, and may be converted into Ordinary Shares of IBAI at the discretion of Truetide, in whole or in part, at the lower of £0.0075 (subject to a General Meeting to change the Company's par value) or the subscription price of any fundraising completed by IBAI prior to conversion. The final redemption date is 31 December 2027.
The Directors of the Company accept responsibility for the contents of this announcement.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.