29 th October 2012 – Bond Issue
Early Equity announces that its Board of Directors has approved the Company to issue convertible bonds (Bonds) up to US$10 million on the terms set out in the summary below:
Issue Period: 1st November 2012 - 1st July 2013
Maturity: 7 years
Denomination: US Dollar
Interest: 15% payable annually
The proceeds from the Bonds are expected to be used to finance potential investments which the Directors believe will improve its prospects for the future.
The Directors are also pleased to announce that the Company, on October 26, 2012, has entered into a subscription agreement with Encore Investment Group Limited that confers to them the rights to subscribe to Bonds of up to US$5 million over the period from 1st November 2012 till 1st July 2013. The Company is currently in negotiations with several other parties who are interested to subscribe in Bonds of the Company. The Company stresses that to date, no subscription has been confirmed, and the Company shall release a regulatory announcement should any material subscription be received by the Company.
This announcement is neither an offer to sell nor the solicitation of an offer to buy the bonds and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.