Oracle Power PLC

Conversion Notice and Total Voting Rights

RNS Number : 4640K
Oracle Power PLC
02 September 2021
 

2 September 2021

 

Oracle Power PLC

("Oracle" or the "Company")

 

 

Conversion Notice and Total V oting R ights  

 

Oracle Power PLC (AIM:ORCP), the international natural resources project developer, announces that it has received a conversion notice from the Investors in respect of a further £100,000 of the £1.5 million Share Subscription announced on 9 July 2020.

 

Accordingly, pursuant to the conversion, the Company will issue, in aggregate, 31,281,281 new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") to the Investors (the "Investor Shares"), split equally between them.

 

Following the conversion, £400,000 remains outstanding for conversion under the Share Subscription.

 

The Investor Shares will rank pari passu in all respects with the existing Ordinary Shares. Application will be made to the London Stock Exchange plc for the admission of the Investor Shares to trading on AIM ("Admission"). It is anticipated that Admission will occur at 8.00 a.m. on AIM on or around 8 September 2021.

 

Total Voting Rights

 

Following Admission, the Company's issued share capital will comprise 2,257,045,305 Ordinary Shares.  As the Company does not hold any shares in treasury, this figure of 2,257,045,305 Ordinary Shares 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 Guidance and Transparency Rules.

 

Unless defined herein, or the context requires otherwise, capitalised terms used in this announcement carry the same meaning as those ascribed to them in the Company's announcement of 9 July 2020.

 

 

About Oracle Power PLC :

 

Oracle Power PLC is an international natural resource and power project developer quoted on London's AIM market.  The Company holds two highly prospective gold assets in two globally significant gold regions of Western Australia.  The Northern Zone Project is located 25km east of the major gold mining centre of Kalgoorlie, the home of the 'Super Pit' mine, the second largest gold mine in Australia, and the Jundee East Gold Project is located ~9km east of Northern Star's Jundee Gold Mine, one of Australia's largest gold mines.

 

The Company's initial project is the Thar Block VI Project in the Thar desert in the south-east of the Sindh province of Pakistan where the Company is advancing plans for a combined lignite coal mine, a 1,320MW mine mouth power plant and a proposed coal gasification to urea project.

 

*ENDS*

 

For further information on Oracle Power Plc, visit the Company ' s website http://www.oraclepower.co.uk or contact:

 

Oracle Power PLC

Naheed Memon - CEO    +44 (0) 203 580 4314

 

Strand Hanson Limited (Nominated Adviser)

Rory Murphy, James Harris, Rob Patrick  +44 (0) 20 7409 3494

 

Brandon Hill Capital Limited (Joint Broker)

Oliver Stansfield                                                                                           +44 (0) 203 463 5000

 

Shard Capital (Joint Broker)

Damon Heath, Isabella Pierre   +44 (0) 20 7186 9952

 

St Brides Partners Limited (Financial PR)

Susie Geliher, Catherine Leftley                                                                  +44 (0) 20 7236 1177

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European (Withdrawal) Act 2018.

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