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About this campaign

Campaign created

Friday, Sep 08 2017

What we are borrowing for

Following the successful launch of Flender in Ireland the company is raising funds to scale the proven platform and proposition.

We have put in place a convertible loan note with 12% interest and 20% discount on the conversion to shares.

This campaign is targeted mainly at our existing investors and lenders.

Participants: Please note that, unlike normal campaigns where the loan needs to close out before investors start earning interest your funds will start earning interest from the day of your investment in this loan note.

The minimum investment amount to participate is €5,000

Where we are based

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Why invest in us?

  1. Proven technology platform, business model, proposition. The loan note will help accelerate expansion in both Ireland and into new markets.
  2. The instrument purports to create convertible loan notes in NKK Finance Ltd (the “Company”).
  3. An interest rate of 12% will accrue on the loan notes and is payable upon redemption of the loan notes.
  4. The Terms

    • The loan notes may be utilised by the Company for the purpose of financing the business activities of the Company and no other purpose.

    • The loan notes are unsecured.

    • Interest will be paid net of any income tax or other tax withheld or deducted by the Company.

    • The Company can redeem the loan notes earlier than:
    (i) 12 months from the date the loan note is entered into; or
    (ii) completion of the latest investment round (i.e. receipt of funds from current fund-raise at capped £10m post money valuation) by paying the principal loan note amount with accrued interest.

    • Alternatively, on notice of the above, the note holder may within 10 business days elect to invest for ordinary shares in the Company at a 20% discount (subject to the discount price not falling below the nominal value of those shares).

    • The loan notes may be transferred only on consent of the Company.

    • Interest and capital are both repaid at the end of the 12 month term or can be converted into shares.

How we will use you investment

The funds will be used to scale up the team and ensure that sales, marketing and compliance roles are sufficient to penetrate Ireland fully (c. €400 Million potential annually) and to launch in other markets.