Loan Conversion

RNS Number : 2672P

i3 Energy PLC

25 May 2018

 

25 May 2018

i3 Energy plc

("i3" or the "Company")

Loan Conversion

The Company announces that on 25 May 2018, in relation to the Loan Note Agreement as announced on 6 February 2018, it received notice of exercise from James Caird Asset Management ("JCAM") to convert part of the loan with an aggregate par value of US$500,000, into shares. Following this conversion, the value outstanding on the Loan will be US$1,000,000.

i3 Energy has therefore today allotted 925,926 ordinary shares to JCAM which will rank pari passu in all respects with the existing ordinary shares.

Application has been made for these new ordinary shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 1 June 2018.

Following Admission, the Company's enlarged issued share capital will comprise 37,623,250 ordinary shares. The Company does not hold any shares in treasury. The total voting rights in the Company is therefore 37,623,250 ordinary shares and 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.

CONTACT DETAILS:

	i3 Energy plc
	Neill Carson (CEO) / Graham Heath (CFO)	c/o Camarco Tel: [phone]
	WH Ireland Limited (Nomad and Joint Broker)
	James Joyce, James Sinclair-Ford	Tel: [phone]
	GMP FirstEnergy (Joint Broker)
	Jonathan Wright, David van Erp	Tel: [phone]
	Camarco
	Georgia Edmonds, Jane Glover, James Crothers	Tel: [phone]

 

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