Termination of Darwin Facility

RNS Number : 8463M

Edenville Energy PLC

12 May 2015

 

12 May 2015

Edenville Energy plc

("Edenville" or the "Company")

Termination of Darwin Facility

The Company hereby announces the early expiration of its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), which was mutually agreed with Darwin with effect from 11 May 2015.

The £5m, three year, EFF with Darwin was announced on 27 March 2013 and the Company subsequently completed two drawdowns, occurring in April and September 2013, of £106,895 and £390,000 respectively. In total, the Company issued 263,069,392 shares to Darwin.  Following the expiration of the EFF, Darwin no longer has any obligation to subscribe for any further Ordinary Shares in the Company.  There are no penalty fees payable by the Company for not using the remainder of the facility and its early expiration.

Darwin continue to hold 47,500,000 warrants in Edenville, issued at the time of entering into the EFF, at a subscription price of 0.4p each and which expire on 26 March 2016.

Contact
Edenville Energy Plc Rufus Short - CEO	[phone]
Cantor Fitzgerald Europe (Nominated Advisor and Corporate Broker) Stewart Dickson Jeremy Stephenson	[phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring	[phone]

 

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