Conversion Notice and Issue of Equity

RNS Number : 4708D

Andalas Energy And Power PLC

26 June 2019

 

 26  June 2019

Andalas Energy and Power Plc

( the 'Company')

Conversion Notice

Issue of Equity

Andalas Energy and Power Plc (AIM: ADL) announces that it has received a conversion notice from Optiva Securities Limited, the registered noteholder under the convertible loan note facility announced on 21 June 2019 ("Facility"), in respect of £560,000 of notes.  Accordingly, the Company will issue 373,333,333 ordinary shares at a price of 0.15 pence per share to the loan note holders in accordance with the terms of the Facility.  The loan note holders are clients of Optiva Securities Limited and the Company will update investors in due course should any loan note holders hold a notifiable interest in the Company.

The Company will apply for the new shares to be admitted for trading on AIM, and admission is expected to take place on 2 July.  The new total number of shares in issue will be 977,303,634. 

All shares carry one voting right each, and the Company does not hold any shares in treasury. The number of Ordinary Shares with voting rights is therefore 977,303,634.  Accordingly, this figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR).  Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please contact:

Simon Gorringe	Andalas Energy and Power Plc	Tel: [phone]
Graham Smith	FIM Capital Limited	Tel: [phone]
Roland Cornish/ James Biddle	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Colin Rowbury	Novum Securities Limited (Joint Broker)	Tel: [phone]
Christian Dennis	Optiva Securities Limited (Joint Broker)	Tel: [phone]

 

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