9th May 2025 07:00
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018 ("MAR"). THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
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
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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) |
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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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