TIDMEVST 
 
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR 
INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED 
STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER 
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT 
SECURITIES LAWS OF SUCH JURISDICTION. 
 
This announcement does not constitute a prospectus or offering memorandum or an 
offer in respect of any securities and is not intended to provide the basis for 
any decision in respect of Everest Global plc or other evaluation of any 
securities of Everest Global plc or any other entity and should not be 
considered as a recommendation that any investor should subscribe for or 
purchase any such securities. 
 
The information contained within this announcement is deemed to constitute 
inside information as stipulated under the Market Abuse Regulations (EU) No. 
596/2014. Upon the publication of this announcement, this inside information is 
now considered to be in the public domain. 
 
 
25 January 2023 
 
For Immediate Release 
 
                              Everest Global plc 
 
                            ("EG" or the "Company") 
 
                Conversion of Convertible Loan Notes for Shares 
 
The Company is pleased to announce the conversion (the "Conversion") of £ 
300,000 Convertible Loan Notes (the "Convertible Loan Notes") for 6,000,000 new 
Ordinary Shares (the "Conversion Shares"). The Conversion Price is 5 pence per 
share. 
 
The Conversion Price represents a premium of 85 per cent to the closing price 
of 2.70 pence on 23 January 2023, being the business day prior to agreement of 
the Conversion. The Conversion is being conducted pursuant to the existing 
authorities granted to the Directors of the Company at its annual general 
meeting on 29 April 2022. The Conversion Shares represent 
approximately 9.25 per cent. of the Company's issued share capital as enlarged 
by the Conversion Shares. 
 
The purpose of the Conversion is to assist the company in reducing its creditor 
position. 
 
The holder of the Convertible Loan Notes will also receive two warrants for 
each Conversion Share. The first such warrant conveys the right to subscribe 
for a further new ordinary share at an exercise price of 5p ("5p Warrant")and 
the second such warrant conveys the right to subscribe for further new ordinary 
share at an exercise price of 10p ("10p Warrant").  These warrants are 
exercisable up until 31 December 2024. In total therefore 6,000,000 5p Warrants 
and 6,000,000 10p Warrants will be issued. 
 
In compliance with Prospectus Regulation Rule 1.2.4, which prohibits the 
admission of more than 20% of the number of securities already admitted to 
trading on the Main Market of the London Stock Exchange without a Prospectus, 
the Company intends to publish a Prospectus in relation to the issue of the 
Subscription Shares in order to enable those shares to be admitted to trading 
on the Main Market of the London Stock Exchange in accordance with Listing Rule 
14.3.4. 
 
As a result of the issue of the subscription shares, the following is the 
shareholdings in the company above 3% before and after the subscription, in 
addition to Directors' shareholding, as far as the Directors are aware, that 
are required to be disclosed in the Company. 
 
Shareholder                Pre-Conversion  Pre-Conversion Post-Conversion Post-Conversion 
                            Shareholding         %         Shareholding          % 
 
Golden Nice International      13 000 000     22.08%           19 000 000     29.28% 
Group Limited 
 
Lynchwood Nominees Limited      8 773 542     14.90%            8 773 542     13.52% 
 
Ms Chen Fangling                6 363 000     10.81%            6 363 000      9.81% 
 
Mr An Xiangyu                   6 363 000     10.81%            6 363 000      9.81% 
 
VSA Capital Limited             5 700 639      9.68%            5 700 639      8.79% 
 
Interactive Investor            2 967 857      5.04%            2 967 857      4.57% 
Services Nominees Limited 
 
Vidacos Nominees Limited          552 599      0.94%              552 599      0.85% 
N1 
 
N1 - R Scott, a director, hold his shares in Carimar International Holdings 
Limited which are held by Vidacos Nominees Limited 
 
The total number of Ordinary Shares in issue with voting rights in the Company 
will be 64,888,855 ("Total Voting Rights"). No shares are held in treasury. The 
Total Voting Rights figure may be used by shareholders as the denominator for 
the calculation by which they may determine if they are required to notify 
their interest in, or a change to their interest in, the Company under the 
FCA's Disclosure Guidance and Transparency Rules. 
 
The Board of Everest Global is very pleased with the confidence shown in the 
Company and the management team. The Subscription as announced on the 24 
January 2023 and this Conversion assist the company by providing the working 
capital it needs to fulfil its strategic mandate as well as reduce the creditor 
position substantially with regard to the Convertible Loan Notes. 
 
 
For further information, please visit www.everestglobalplc.com or contact the 
following: 
 
 
Everest Global plc 
 
Andy Sui, Chief Executive Officer                  +44 (0) 776 775 1787 
Rob Scott, Non-Executive Director                  +27 (0)84 6006 001 
 
 
 
 
END

(END) Dow Jones Newswires

January 25, 2023 02:00 ET (07:00 GMT)

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