TIDMIDE

RNS Number : 5133I

IDE Group Holdings PLC

19 April 2022

IDE Group Holdings Plc

("IDE" or the "Company")

Loan Notes

On 8(th) December the Company announced a short-term loan of GBP1m from MXC to IDE Group Holdings. The arrangement called for the loan and interest to be repaid by March 31(st) or it would revert to the same terms as the existing loan notes. The loan was not repaid and accordingly the short-term loan has now adopted the same terms as the loan notes announced on 10(th) January 2019.

This brings the total potential indebtedness of the Company via these loan notes once matured to a total of GBP25,899,798. All loan notes remain covenant free. MXC has begun exploratory conversations with IDE Group, with a view to converting its loan notes into equity.

Contacts:

 
 IDE Group Holdings Plc                           Tel: +44 (0)344 874 
  Andy Parker, Non-Executive Chairman              1000 
 finnCap Limited                                  Tel: +44 (0)20 7220 
  Nominated Adviser and Broker                     0500 
  Corporate finance: Jonny Franklin-Adams/ Abby 
  Kelly 
  ECM: Tim Redfern/ Richard Chambers

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April 19, 2022 02:01 ET (06:01 GMT)

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