REG - Ocean Harvest Tech. - Funding update

Ocean Harvest TechnologyAnnouncement

09/05/2025 07:00

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RNS Number : 9767H  Ocean Harvest Technology Group PLC  09 May 2025

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Ocean Harvest Technology Group plc

 

("OHT" or the "Company")

Funding update

 

Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer
and supplier of proprietary blended seaweed products as functional additives
for the global animal feed industry, gives an update further to the
announcement of 7 May 2025.

 

As described in that announcement, funding for the Company has been most
recently provided through the issue of secured loan notes ("Loan Notes") to
certain shareholders, the terms of which were summarised in a circular dated
30 September 2024, and approved by shareholders on 17 October 2024.

 

The Company continues to have discussions with shareholders, including those
that hold the Loan Notes ("Loan Note Holders"), with regards a funding
solution.

 

The directors believe that recent events could constitute an event of default
under the terms of the Loan Notes, which would allow the Loan Note Holders to
demand the immediate redemption of their outstanding Loan Notes and to
exercise their security rights.

 

The Loan Note Holders have not made such a demand to date and remain in
discussions with OHT.

 

The Company will provide an update once it has further clarity on its funding
position.

 

For more information please contact:

 Ocean Harvest Technology Group plc                                   Tel: +44 (0) 1737 735018

 Ashley Head, Executive Chairman

 Chris Scott, CFO

 Cavendish Capital Markets Ltd (Nominated Adviser and Sole Broker)    Tel: +44 020 7220 0500
 Geoff Nash / Seamus Fricker / Trisyia Jamaludin (Corporate Finance)

 Tim Redfern / Harriet Ward (ECM)

 

Notes to Editors

 

Ocean Harvest Technology Group plc is a global leader in the development and
commercialisation of value adding proprietary products from blending multiple
species of seaweed. The Company provides a range of natural additives focused
on improving animal performance and the sustainability of the feed chain,
through its unique and proven proprietary seaweed blends. The Company sources
its seaweed globally, utilising sustainable and socially responsible
harvesting of largely wild blooming seaweed species.  Its products are
produced in its facility in Vietnam and sold into the $40bn animal feed
additive sector in multiple markets across the world.

 

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