Conversion of Loan

RNS Number : 9532U

Empyrean Energy PLC

07 January 2013

 

7 January 2013

Empyrean Energy PLC

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

Maturity of Convertible Facility

Further to the announcement of 14 November 2012 the Company announces that following receipt of conversion notices in relation £130,000 of the convertible loan currently drawn down (plus interest component), it has today issued 2,579,433 new Ordinary Shares at price of 6p.  Application has been made for the new Ordinary Shares to be admitted to AIM on 14 January 2013.  The balance of the loan, amounting to £62,500 has been repaid with interest by the Company today.

This extinguishes all obligations that the Company has with regards to the convertible loan facility which, following maturity on 31 December 2012, is now at a zero balance.

Following the issue of the shares, Empyrean's total issued and voting share capital will comprise of 220,433,853 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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