Completion of the disposal of Legacy Assets
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Following the Company's announcement on 13 May 2024, Jade Road is pleased to confirm that (i) completion of the disposal of the Legacy Assets to Eastern Champion Limited ("Eastern") has occurred, (ii) qualifying Shareholders have been issued with shares in Eastern by way of the In Specie Dividend, and (iii) Noteholders have had their Jade Road Loan Notes replaced with the Eastern Loan Notes.
As a result of the above transactions, JADE is now a vehicle looking to acquire a business via a reverse takeover. Discussions are continuing with a number of parties on this plan.
Capitalised terms used in this announcement have the same meaning given to them in the Company's RNS announcement dated 13 May 2024.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.