Circular publication and Notice of General Meeting

RNS Number : 9180E

MetalNRG PLC

11 November 2020

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

11 November 2020

MetalNRG plc

("MetalNRG" or the "Company")

Publication of a Circular and Notice of a General Meeting

MetalNRG (LON:MNRG), the natural resource investing and exploration company, announces that it has published a circular in connection with a General Meeting to seek shareholder approval to renew the general authority to allot shares in the capital of the Company and to disapply the statutory pre-emption rights on the issue of shares.

On 20 October 2020, the Company announced its proposed acquisition of Lake Victoria Gold Limited ("LVG") and that, in conjunction with the planned takeover offer of this company and to provide additional working capital for the enlarged MetalNRG Group, it intended to effect a share placing (the "Placing") to raise up to £4.5m in due course.

The Company is preparing a new prospectus in connection with the proposed acquisition of LVG (the "LVG Acquisition") and the Placing.  However, the Company currently has insufficient headroom to issue the required number of Ordinary Shares to complete the LVG Acquisition and deal with certain other allotments of shares, including the allotment of shares on the conversion of the Company's outstanding convertible loan notes. 

The circular published yesterday contains a Notice of General Meeting which sets out the resolutions to be put the General Meeting when it is held at 10.00 a.m. on 27 November 2020.  In light of the ongoing Covid-19 pandemic and with a view to taking appropriate measures to safeguard its Shareholders' health and make the General Meeting as safe and efficient as possible, the Company is invoking certain of the provisions of the Articles to hold the General Meeting as an electronic meeting only.

A copy of the circular is available for inspection on the Company's website at metalnrg.com/investors, A copy of the circular will also be submitted to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

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Contact details:

MetalNRG PLC Christopher Latilla-Campbell	[phone]
Corporate Adviser PETERHOUSE CAPITAL LIMITED Lucy Williams/Duncan Vasey	[phone]
Corporate Broker SI CAPITAL LIMITED Nick Emerson	[phone]

 

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