Update

Koovs plc

Koovs plc ("Koovs", or the "Company") AIM: KOOV), the fashion-forward business focused on the young Indian e-commerce market, announces today that it will be seeking a renewal of permission for the issue of up to £18.9m of convertible loan notes in the Company. In addition to the £8.9m which has previously been received, the Company remains in advanced negotiations to secure a term sheet from an investor committing to invest via the issue of convertible loan notes. The Company remains confident of delivering this further tranche of convertible loan notes and expects to announce the successful conclusion of this additional funding in due course.

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