Exercise of Warrants

RNS Number : 5705V

Edenville Energy PLC

10 August 2020

 

10 August 2020

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Exercise of Warrants

Edenville Energy Plc (AIM: EDL) announces that it has received notices of exercise from a number of existing shareholders in respect of certain pre-existing warrants to subscribe for, in aggregate, 83,333,333 new ordinary shares of 0.02 pence each in the capital of the Company ("Ordinary Shares") at a price of 0.06 pence per share.

Application will be made to the London Stock Exchange plc for the admission of the 83,333,333 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 14 August 2020.

Alistair Muir, CEO of Edenville commented:

' The exercise of these warrants, at a 33% premium to the most recent mid-market closing price, clearly highlight the belief some of our larger shareholders have in Edenville's ultimate potential, particularly following the recently announced restart of operations at the Company's flagship Rukwa Coal Project in Tanzania. This aggregate cash subscription of £50,000 will be used for general working capital purposes.'

Total Voting Rights

On Admission, the Company will have 8,145,575,095 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 8,145,575,095 can 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, the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency.

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

For further information please contact:

Edenville Energy Plc Jeff Malaihollo - Chairman Alistair Muir - CEO	[phone]
SP Angel Corporate Finance LLP (Nominated Adviser) David Hignell Charlie Bouverat Abigail Wayne	[phone]
Brandon Hill Capital Ltd (Broker) Oliver Stansfield Jonathan Evans	[phone]
IFC Advisory Limited (Financial PR and IR) Tim Metcalfe Florence Chandler	[phone]

 

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