SeaDragon Limited


Transaction Type: Company meeting (Allotment)

Allottee: Pescado Holdings Limited

Independent Adviser(s): Simmons Corporate Finance (Rule 18)

Date of meeting: 17/05/2019


On 25 March 2019, SeaDragon Limited (SeaDragon) announced that it had agreed a term sheet with Pescado Holdings Limited (Pescado), whereby Pescado committed to advance up to $4 million via a new convertible loan note facility (the Pescado Loan), to assist SeaDragon meet its immediate and medium-term funding requirements.

On 1 April 2019, SeaDragon and Pescado entered into the convertible loan note agreement to give effect to the Pescado Loan.

On 17 May 2019, at the SeaDragon annual meeting, shareholders approved the issue of ordinary shares to Pescado on conversion of the Pescado Loan.