Conversion of Loan

RNS Number : 8283Q

Empyrean Energy PLC

25 October 2011

 



25 October 2011

Empyrean Energy PLC

("Empyrean" or the "Company"; Ticker (EME))

Conversion of Loan

Further to the announcement of 19 October 2011 the Company announces that following receipt of conversion notices in relation £25,000 of the convertible loan currently drawn down (plus interest component), it has today issued 526,990 new Ordinary Shares at price of 5.1428p being the 7 business day volume weighted average price per ordinary share traded in the Company's shares up to the day of conversion. Application has been made for the new Ordinary Shares to be admitted to AIM and dealings are expected to commence on 31 October 2011. The balance of the loan, amounting to £694,000 remains drawn down.

Following the issue of the shares, Empyrean's total issued and voting share capital will comprise of 200,096,653 ordinary shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Contact:

Empyrean Energy Plc

Tom Kelly                                                                    Tel: [phone]

Shore Capital & Corporate Limited

Anita Ghanekar                                                            Tel: [phone]

Edward Mansfield

 

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