Jade Road Investments Flags Potential Provision in 2021 Accounts Over Convertible Bond; Shares Fall
December 17 2021 - 4:27AM
Dow Jones News
By Sabela Ojea
Shares in Jade Road Investments Ltd. on Friday fell after the
company said it believes it will likely book either a partial or
full provision in its 2021 accounts in relation to a $26.5 million
convertible bond.
The London-listed investment vehicle said that it holds the bond
in restaurant company Fook Lam Moon Holdings. The bond has a
maturity of five years ending November 2023 and pays a coupon of
5.0% a year, it said.
"The company will also explore all legal options available to it
under the convertible bond documentation if its rights to knowledge
of and possible consents to a disposal of a controlling stake in
the restaurant group have been breached and will consider all
courses of action to protect its interest as more information comes
to light," Jade Road Investments said.
Shares at 0836 GMT were down 4.00 pence, or 28%, at 10.50
pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 17, 2021 04:12 ET (09:12 GMT)
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