Issue of Equity

RNS Number : 3924L

Ncondezi Energy Limited

30 September 2016

 

Issue of Equity

30 September 2016: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) announces the receipt of an exercise notice in relation to 450,000 share options granted to a former employee.

The Company has issued and allotted 450,000 new ordinary shares of no par value ("Ordinary Shares"). An application has been made for the Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM with admission expected to take place at 8.00 am on 6 October 2016.

Following admission of the Ordinary Shares, the Company's enlarged issued share capital will comprise 250,299,844 ordinary shares with voting rights.  This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Enquiries

For further information please visit www.ncondezienergy.com or contact:

Ncondezi Energy:	Hanno Pengilly	[phone]
Liberum Capital Limited: NOMAD & Broker	Neil Elliot / Christopher Britton	[phone]
Bell Pottinger:	Daniel Thöle	[phone]

Ncondezi Energy owns 100% of the Ncondezi Project which is strategically located in the power generating hub of the country, the Tete Province in northern Mozambique. The Company is developing an integrated thermal coal mine and power plant in phases of 300MW up to 1,800MW. The first 300MW phase is targeting domestic consumption in Mozambique using reinforced existing transmission capacity to meet current demand.

 

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