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Edenville Energy PLC (EDL)

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Friday 15 September, 2017

Edenville Energy PLC

Interim Results

RNS Number : 8193Q
Edenville Energy PLC
15 September 2017
 

15 September 2017

 

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

 

Interim Results for the Six Months Ended 30 June 2017

 

Edenville Energy plc (AIM:EDL), the company developing a coal to power project in south western Tanzania, announces its unaudited Interim Results for the six months ended 30 June 2017.

 

Period Highlights

 

·    

£2 million (gross) raised to start coal production;

·    

Mining commenced at Rukwa project site;

·    

Wash plant and crusher purchase complete;

·    

Critical mining equipment purchased;

·    

Improvements made to Rukwa site infrastructure;

·    

Tanzanian mining contractor appointed, together with additional Edenville staff;

·    

Enlarged Mining Licence granted, now covering 9.88km2 with additional Prospecting Licence of 29.62Km2;

·    

Strategic partnership with Sinohydro Corporation of China ("Sinohydro") in relation to the Company's Rukwa Coal to Power Project established; and

·    

Formal request from the Ministry of Energy and Minerals of Tanzania to proceed with the development of the Rukwa Coal to Power Project. 

 

 

Post period Highlights

 

·    

Wash plant and crusher delivered to site and are being commissioned;

·    

Supply of unwashed coal and coal stockpiling ready for wash plant operation;

·    

16km mine haul road constructed;

·    

Marketing Agreement entered into with an agent to source coal customers; and

·    

Interest from potential customers to purchase Company's coal.

 

 

Rufus Short, CEO of Edenville Energy commented: "The first half of 2017 was an extremely busy and transformational period for the Company.  Having raised funds in February to start production, we have been able to rapidly put in place the required infrastructure and are seeing strong demand for our coal.

 

"We look forward to the wash plant being operational shortly and commencing sales of washed coal, whilst continuing to advance our Coal to Power Project in conjunction with our partner Sinohydro.

 

"The remainder of 2017 is expected to be equally busy and we look forward to providing updates as matters progress."

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

 

 

 

Edenville Energy Plc

Jeff Malaihollo - Chairman

Rufus Short - CEO

+44 (0) 20 7652 9788

 

Northland Capital Partners Limited

(Nominated Adviser)

Gerry Beaney

David Hignell

Jamie Spotswood

 

 

+44 (0) 20 3861 6625

 

Optiva Securities Limited

(Broker)

Jeremy King

Graeme Dickson

 

 

+44 (0) 20 3137 1902

IFC Advisory

(Financial PR and IR)

Tim Metcalfe

Graham Herring

Heather Armstrong

 

+44 (0) 20 3053 8671

 

Chairman's Statement

 

Operational Report

 

The first half of 2017 has been transformational for the Company. We started this year with a decision to start mining at our Rukwa Project site to supply coal to the domestic market in Tanzania and more widely in East Africa.  This followed the introduction of a coal import ban by the Government of Tanzania, which created an opportunity for Edenville to fill the supply void created by this policy and also monetise the Rukwa Project in the near term

 

In February 2017 we raised £2 million (before expenses) to purchase a wash plant, acquire critical mining equipment and improve the infrastructure at our Rukwa project site. It is a testimony of our team's ingenuity and achievement to be able to put into production a modern mine at a relatively small capital cost.

 

During the period and post the period end significant progress has been made.  I am pleased to report that the wash plant is now onsite and should be fully operational by the end of September. We have improved most of the infrastructure and purchased the required critical mining equipment. Mining has started and unwashed coal has been supplied and stock piled for washing. We have had strong interest and enquiries from various sources for our washed product and we look forward to formalising sales contracts once we are in a position to supply it.

 

In the meantime, we are still working with the Tanzanian Government, Tanzania Electric Supply Company ("Tanesco") and Sinohydro to advance the Rukwa Coal to Power Project where we plan to build a power plant to service the power defecit that exists in the region.

 

As announced on 25 July 2017 the recent changes in the Tanzanian Mining Law have undoubtedly create some uncertainties within the Tanzanian mining sector.  We are closely monitoring developments and we are yet to experience any direct impact on our operations in Tanzania.  We retain a close working relationship with the Tanzanian Government agencies and the local community.

 

 

Financial Results

 

The Company made a loss after taxation for the six-month period ended 30 June 2017 of £551,337 (H1 2016: £446,801). The net assets at 30 June 2017 amounted to £6,805,216 (30 June 2016: £6,501,141).

 

The total comprehensive loss for the period was £841,877, which included a loss of £290,540 arising from the translation of the Tanzanian subsidiary company accounts from US Dollars to Sterling.

 

As at 30 June 2017 we had cash of £1,128,790 (30 June 2016: £190,856), which placed us in a stronger position than for some time, although much of this cash balance has been committed to construction of the mine and wash plant.  As we move to the supply of washed coal we are exploring a variety of options to fund the working capital requirements.

 

In closing I would like to thank our shareholders, our partners, my fellow directors, our employees and contractors that have assisted in the Company's transition from an explorer to a producer.  We look forward to updating shareholders as we continue to progress all aspects of the Company's operations.

 

Jeff Malaihollo

Non-Executive Chairman

 

 

  

 

 

EDENVILLE ENERGY PLC

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

 

FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

 

 

Six months ended

30 June 17

Six months ended

30 June 16

Year

ended

31 Dec 16

 

 

Unaudited

Unaudited

Audited

 

Note

£

£

£

 

 

 

 

 

Gross profit

 

-

-

-

Administrative expenses

 

(552,085)

(446,814)

(892,854)

Impairment of tangible asset

 

-

-

(2,271,560)

 

 

                

                

                

Group operating loss

 

(552,085)

(446,814)

(3,164,414)

 

 

 

 

 

Finance income

 

748

13

18

 

 

                

                

                

Loss on operations before taxation

 

(551,337)

(446,801)

(3,164,396)

 

 

 

 

 

Taxation

 

-

-

173,450

 

 

                

                

                

Loss for the period after taxation

 

(551,337)

(446,801)

(2,990,946)

Other comprehensive income/(loss):

 

 

 

 

(Loss)/gain on translation of overseas subsidiary

 

(290,540)

547,533

1,088,078

 

 

                

                

                

Total comprehensive (loss)/income for the period

 

 

(841,877)

 

100,732

 

(1,902,868)

 

 

                

                

                

 

 

 

 

 

Attributable to:

 

 

 

 

Equity holders of the Company

 

(841,583)

100,985

(1,900,371)

Non-controlling interest

 

(294)

(253)

(2,497)

 

 

                

                

                

 

 

(841,877)

100,732

(1,902,868)

 

 

                

                

                

Loss per share

 

 

 

 

- basic and diluted (pence)

2

(0.06)

(0.09)

(0.50)

 

 

                

                

                

 

 

 

 

 

 

The income for the period arises from the Group's continuing operations.

EDENVILLE ENERGY PLC

CONSOLIDATED statement of financial position

 

as at 30 june 2017

 

 

As at

30 June 17

As at

30 June 16

As at

31 Dec 16

 

 

Unaudited

Unaudited

Audited

 

 

 

 

 

 

Note

£

£

£

 

 

 

 

 

Non-current assets

 

 

 

 

Property, plant and equipment

4

999,215

19,619

19,222

Intangible assets

5

4,731,189

6,142,364

4,705,760

 

 

                   

                   

                  

 

 

5,730,404

6,161,983

4,724,982

Current assets

 

 

 

 

Trade and other receivables

 

181,695

492,160

170,341

Cash and cash equivalents

 

1,128,790

190,856

246,120

 

 

                   

                   

                 

 

 

1,310,485

683,016

416,461

 

 

                   

                   

                   

Current liabilities

 

 

 

 

Trade and other payables

 

(235,673)

(184,566)

(133,486)

 

 

                   

                   

                  

Current assets less current liabilities

 

1,074,812

498,450

282,975

 

 

 

 

 

 

 

                   

                   

                  

Total assets less current liabilities

 

6,805,216

6,660,433

5,007,957

 

 

 

 

 

Non - current liabilities

 

 

 

 

Provisions for other liabilities and charges

 

-

(159,292)

-

 

 

                   

                   

                  

 

 

6,805,216

6,501,141

5,007,957

 

 

                   

                   

                  

Capital and reserves

 

 

 

 

Called-up share capital

6

2,633,698

2,536,756

2,563,325

Share premium account

 

16,706,266

13,765,317

14,250,401

Share based payment reserve

 

221,699

129,610

108,802

Foreign currency translation reserve

 

817,636

567,631

1,108,176

Retained earnings

 

(13,577,968)

(10,505,834)

(13,026,926)

 

 

                   

                   

                  

Issued capital and reserves attributable to owners of the parent company

 

6,801,331

6,493,480

5,003,778

Non-controlling interest

 

3,885

7,661

4,179

 

 

                   

                   

                  

Total equity

 

6,805,216

6,501,141

5,007,957

 

 

                   

                   

                  

EDENVILLE energy PLC

CONSOLIDATED statement of changes in equity

 

FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

 

 

----------------------------------Equity Interests--------------------------------

 

 

 

 

 

 

 

Share capital

 

 

 

Share premium

 

 

 

Retained Earnings

 

 

Share option reserve

 

Foreign currency translation reserve

 

 

 

 

Total

 

 

Non- Controlling interest

 

 

 

 

Total

 

£

£

£

£

£

£

£

£

 

 

 

 

 

 

 

 

 

Balance at 1 January 2017

2,563,325

14,250,401

(13,026,926)

108,802

1,108,176

5,003,778

4,179

5,007,957

Issue of share capital

70,373

2,546,751

-

-

-

2,617,124

-

2,617,124

Share issue costs

-

(90,886)

-

-

-

(90,886)

-

(90,886)

Share based payment charge

 

-

 

-

 

-

 

112,897

 

-

 

112,897

 

-

 

112,897

Foreign currency translation

 

-

 

-

 

-

 

-

 

(290,540)

 

(290,540)

 

-

 

(290,540)

Loss for the period

-

-

(551,042)

-

-

(551,042)

(294)

(551,336)

 

                

                 

                 

                

                 

                 

                 

                 

Balance at 30 June 2017

 

2,633,698

 

16,706,266

 

(13,577,968)

 

221,699

 

817,636

 

6,801,331

 

3,885

 

6,805,216

 

                

                 

                 

                

                 

                 

                 

                 

 

 

 

 

 

 

 

 

 

Balance at 1 January 2016

 

1,872,978

 

13,623,545

 

(10,059,286)

 

129,610

 

20,098

 

5,586,945

 

5,618

 

5,592,563

Issue of share capital

663,778

187,722

-

-

-

851,500

-

851,500

Share issue costs

-

(45,950)

-

-

-

(45,950)

-

(45,950)

Cancellation of share options

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

Foreign currency translation

 

-

 

-

 

-

 

-

 

547,533

 

547,533

 

2,296

 

549,829

Loss for the period

-

-

(446,548)

-

-

(446,548)

(253)

(446,801)

 

                

                 

                 

                

                 

                 

                 

                 

Balance at 30 June 2016

 

2,536,756

 

13,765,317

 

(10,505,834)

 

129,610

 

567,631

 

6,493,480

 

7,661

 

6,501,141

 

                 

                 

                  

                

                 

                 

                 

                 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share capital

 

 

 

Share premium

 

 

 

Retained Earnings

 

 

Share option reserve

 

Foreign currency translation reserve

 

 

 

 

Total

 

 

Non- Controlling interest

 

 

 

 

Total

 

£

£

£

£

£

£

£

£

 

 

 

 

 

 

 

 

 

Balance at 1 January 2016

1,872,978

13,623,545

(10,059,286)

129,610

20,098

5,586,945

5,618

5,592,563

Issue of share capital

690,347

697,806

-

-

-

1,388,153

-

1,388,153

Cost of issue

-

(70,950)

-

-

-

(70,950)

-

(70,950)

Exercise of warrants

-

-

-

-

-

-

-

-

Cancellation of share options

-

-

20,808

(20,808)

-

-

-

-

Foreign currency translation

-

-

-

-

1,088,078

1,088,078

1,059

1,089,137

Loss for the year

-

-

(2,988,448)

-

-

(2,988,448)

(2,498)

(2,990,946)

 

                

                 

                 

                

                 

                 

                 

                 

Balance at 31 December 2016

2,563,325

14,250,401

(13,026,926)

108,802

1,108,176

5,003,778

4,179

5,007,957

 

                

                 

                

                

                

                

                

                

EDENVILLE ENERGY PLC

consolidated CASH FLOW STATEMENT

 

FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

 

Six months

ended

30 June 17

Six months

ended

30 June 16

Year

 ended

31 Dec 16

 

Unaudited

Unaudited

Audited

 

£

£

£

Cash flows from operating activities

 

 

 

Operating loss

(552,085)

(446,814)

(3,164,414)

Impairment of tangible & intangible non-current assets

 

-

 

-

 

2,271,560

Share based payments

112,897

-

-

Depreciation

2,345

4,378

5,819

Foreign exchange (loss)/gain

(47,607)

6,296

-

(Decrease)/increase in trade and other receivables

(19,934)

(337,671)

(7,219)

Increase/(decrease) in trade and other payables

108,214

72,407

46,776

 

               

               

               

Net cash used in operating activities

(396,170)

(701,404)

(847,478)

 

 

 

 

Cash flows from investing activities

 

 

 

Purchase of exploration and evaluation assets

(263,760)

(231,359)

(541,455)

Purchase of property, plant and equipment

(983,060)

-

-

Finance income

748

13

18

 

              

              

              

Net cash used in investing activities

(1,246,072)

(231,346)

(541,437)

 

                

                

                

Cash flows from financing activities

 

 

 

Proceeds on issue of shares

2,617,124

851,500

1,388,153

Share issue costs

(90,886)

(45,950)

(70,950)

 

              

              

              

Net cash generated from financing activities

2,526,238

805,550

1,317,203

 

              

              

              

 

 

 

 

Net decrease in cash and cash equivalents

883,996

(127,200)

(71,712)

Cash and cash equivalents at beginning of year

246,120

316,652

316,652

Exchange losses on cash and cash equivalents

(1,326)

1,404

1,180

 

              

              

              

 

 

 

 

Cash and cash equivalents at end of year

1,128,790

190,856

246,120

 

              

              

              

 

 

 

 

EDENVILLE ENERGY PLC

NOTES TO THE INTERIM REPORT

 

FOR THE SIX MONTHS ENDED 30 JUNE 2017

 

1.       Financial information and basis of preparation

 

The interim financial statements of Edenville Energy Plc are unaudited consolidated financial statements for the six months ended 30 June 2017 which have been prepared in accordance with IFRSs as adopted by the European Union.  They include unaudited comparatives for the six months ended 30 June 2016 together with audited comparatives for the year ended 31 December 2016.

 

The interim financial statements do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006.  The statutory accounts for the year ended 31 December 2016 have been reported on by the company's auditors and have been filed with the Registrar of Companies.  The report of the auditors was (i) unqualified, (ii) contained an emphasis of matter paragraph with regards Going Concern and (iii) did not contain any statement under section 498 of the Companies Act 2006.

 

The interim consolidated financial statements for the six months ended 30 June 2017 have been prepared on the basis of accounting policies expected to be adopted for the year ended 31 December 2017. These are anticipated to be consistent with those set out in the Group's latest financial statements for the year ended 31 December 2016. These accounting policies are drawn up in accordance with adopted International Accounting Standards ("IAS") and International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board and adopted by the EU.

 

 

2.       Loss per share

 

The calculation of the basic and diluted loss per share is based on the following data:

 

 

30 June 17

30 June 16

31 December 16

 

 

£

£

£

 

Loss after taxation

(551,337)

(446,801)

(2,990,946)

 

 

 

 

Weighted average number of shares in the period

 

997,831,002

 

505,831,942

 

595,688,399

 

 

 

 

Basic and diluted loss per share (pence)

(0.06)

(0.09)

(0.50)

 

The loss attributable to equity shareholders and weighted average number of ordinary shares for the purposes of calculating diluted earnings per ordinary share are identical to those used for basic earnings per ordinary share. This is because the exercise of share options and warrants would have the effect of reducing the loss per ordinary share and is therefore anti-dilutive.

 

The weighted average number of shares in the period ended 30 June 2016 has been adjusted for the share consolidation that took place in August 2016 in order to make the figures comparable.

 

 

 

3.       Dividends

No dividends are proposed for the six months ended 30 June 2017 (six months ended 30 June 2016: £nil, year ended 31 December 2016: £nil).

 

4.       Tangible assets

 

 

Plant & machinery

Fixtures & fittings

Motor vehicles

Assets under construction

 

Total

 

£

£

£

£

£

Cost or valuation

As at 1 January 2017

 

7,471

 

7,473

 

96,683

 

-

 

111,627

Additions

-

-

-

983,060

983,060

Foreign exchange adjustment

-

(168)

(4,051)

-

(4,219)

 

                

                

                

                

                

At 30 June 2017

7,471

7,305

92,632

983,060

1,090,468

 

                

                

                

                

                

Accumulated depreciation

 

 

 

 

 

As at 1 January 2017

6,363

6,857

79,185

-

92,405

Charge for period

138

78

2,129

-

2,345

Foreign exchange adjustment

-

(169)

(3,328)

-

(3,497)

 

                

                

                

                

                

As at 30 June 2017

6,501

6,766

77,986

-

91,253

 

                

                

                

                

                

 

 

 

 

 

 

Net book value

 

 

 

 

 

As at 30 June 2017

970

539

14,646

983,060

999,215

 

                

                

                

                

                

 

 

 

 

 

 

 

Cost or valuation

As at 1 January 2016

 

7,471

 

6,919

 

83,327

 

-

 

97.717

Foreign exchange adjustment

-

284

6,826

 

7,110

 

                

                

                

                

                

At 30 June 2016

7,471

7,203

90,153

-

104,827

 

                

                

                

                

                

Accumulated depreciation

 

 

 

 

 

As at 1 January 2016

5,994

6,097

63,337

-

75,428

Charge for period

184

103

3,859

-

4,146

Foreign exchange adjustment

-

284

5,350

-

5,634

 

                

                

                

                

                

As at 30 June 2016

6,178

6,484

72,546

-

85,208

 

                

                

                

                

                

 

 

 

 

 

 

Net book value

 

 

 

 

 

As at 30 June 2016

1,293

719

17,607

-

19,619

 

                

                

                

                

                

 

 

 

 

 

 

 

 

 

 

Plant & machinery

Fixtures & fittings

Motor vehicles

Assets in the course of  construction

 

Total

 

£

£

£

£

£

Cost or valuation

As at 1 January 2016

 

7,471

 

6,919

 

83,327

 

-

 

97.717

Foreign exchange adjustment

-

554

13,356

-

13,910

 

                

                

                

                

                

At 31 December 2016

7,471

7,473

96,683

-

111,627

 

                

                

                

                

                

 

 

 

 

 

 

Accumulated depreciation

 

 

 

 

 

As at 1 January 2016

5,994

6,097

63,337

-

75,428

Charge for the year

369

205

5,245

-

5,819

Foreign exchange adjustment

-

555

10,603

-

11,158

 

                

                

                

                

                

At 31 December 2016

6,363

6,857

79,185

-

92,405

 

                

                

                

                

                

Net book value

 

 

 

 

 

As at 31 December 2016

1,108

616

17,498

-

19,222

 

                

                

                

                

                

 

5.   Intangible assets

 

 

Exploration and evaluation assets

 

 

 

 

Tanzanian Licences

 

Goodwill

 

Total

 

£

£

£

Cost or valuation

 

 

 

As at 1 January 2017

4,358,669

347,092

4,705,761

Additions

263,760

-

263,760

Foreign exchange adjustment

(220,753)

(17,578)

(238,331)

 

                

                

                

At 30 June 2017

4,401,676

329,514

4,731,190

 

                

                

                

 

 

 

 

Accumulated amortisation and impairment

 

 

 

As at 1 January 2017

-

-

-

 

                

                

                

As at 30 June 2016

-

-

-

 

                

                

                

 

Net book value

 

 

 

As at 30 June 2017

4,401,676

329,514

4,731,190

 

                

                

                

 

 

 

 

 

 

 

 

 

 

 

 

 

Exploration and evaluation assets

 

 

 

 

Tanzanian Licences

 

Goodwill

 

Total

 

 

£

£

£

Cost or valuation

As at 1 January 2016

 

 

3,993,976

 

1,367,301

 

5,361,277

Additions

 

231,360

-

231,360

Foreign exchange adjustment

 

409,658

140,069

549,727

 

 

                

                

                

At 30 June 2016

 

4,634,994

1,507,370

6,142,364

 

 

                

                

                

Accumulated amortisation and impairment

 

 

 

As at 1 January 2016

 

-

-

-

 

 

                

                

                

As at 30 June 2016

 

-

-

-

 

 

                

                

                

 

 

 

 

 

Net book value

 

 

 

 

As at 30 June 2016

 

4,634,994

1,507,370

6,142,364

 

 

                

                

                

 

 

 

 

 

Cost or valuation

As at 1 January 2016

 

 

3,993,976

 

1,367,301

 

5,361,277

Additions

 

541,455

-

541,455

Foreign exchange adjustment

 

800,538

274,050

1,074,588

Written Off

 

(977,300)

(1,294,259)

(2,271,559)

 

 

                

                

                

 

At 31 December 2016

 

 

4,358,669

 

347,092

 

4,705,761

 

 

                

                

                

 

 

 

 

 

Accumulated amortisation and impairment

 

 

As at 1 January 2016

 

-

-

-

Charge for the year

 

-

-

-

 

 

                

                

                

At 31 December 2016

 

-

-

-

 

 

                

                

                

Net book value

 

 

 

 

As at 31 December 2016

 

4,358,669

347,092

4,705,761

 

 

                

                

                

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The outcome of ongoing exploration and evaluation, and therefore whether the carrying value of exploration and evaluation assets will ultimately be recovered, is inherently uncertain.  The directors have assessed the value of exploration and evaluation expenditure carried as intangible assets.  In their opinion there has been no impairment loss to intangible exploration and evaluation assets in the period. 

6.         Share capital

 

No

£

No

£

£

 

Ordinary shares of 0.02p each

Ordinary shares of 0.02p each

Deferred shares of 0.0001p each

Deferred shares of 0.0001p each

Total share capital

Issued and fully paid

 

 

 

 

 

At 1 January 2017

754,202,898

150,840

241,248,512,346

2,412,485

2,563,325

On 26 January 2017 the Company issued 963,855 new ordinary shares of 0.02p each for a consideration of 0.83p per share in lieu of consultancy fees.

963,855

193

-

-

193

On 26 January 2017 the Company issued 1,948,051 new ordinary shares of 0.02p each for a consideration of 0.77p per share in lieu of consultancy fees.

1,948,051

390

-

-

390

On 26 January 2017 the Company issued 1,375,000 new ordinary shares of 0.02p each for a consideration of 0.80p per share, on exercise of warrants.

1,375,000

275

-

-

275

On 26 January 2017 the Company issued 34,699,778 new ordinary shares of 0.02p each for a consideration of 0.54p per share, on exercise of warrants.

34,699,778

6,940

-

-

6,940

On 26 January 2017 the Company issued 5,555,555 new ordinary shares of 0.02p each for a consideration of 0.60p per share, on exercise of warrants.

5,555,555

1,111

-

-

1,111

On 31 January 2017 the Company issued 3,304,167 new ordinary shares of 0.02p each for a consideration of 0.80p per share, on exercise of warrants.

3,304,167

661

-

-

661

On 6 February 2017 the Company issued 612,500 new ordinary shares of 0.02p each for a consideration of 0.80p per share, on exercise of warrants.

612,500

123

-

-

123

On 13 February 2017 the Company issued 6,625,002 new ordinary shares of 0.02p each for a consideration of 0.8 0p per share, on exercise of warrants.

6,625,002

1,325

-

-

1,325

On 13 February 2017 the Company issued 14,999,780 new ordinary shares of 0.02p each for a consideration of 0.60p per share, on exercise of warrants.

14,999,780

3,000

-

-

3,000

On 23 February 2017 the Company issued 250,000,000 new ordinary shares of 0.02p each for a consideration of 0.80p per share, together with 125,000,000 warrants at an exercise price of 1.08p per warrant, on exercise of warrants.

250,000,000

50,000

 

 

50,000

On 17 March 2017 the Company issued 10,000,000 new ordinary shares of 0.02p each for a consideration of 0.60p per share.

10,000,000

2,000

 

 

2,000

On 29 March 2017 the Company issued 2,777,778 new ordinary shares of 0.02p each for a consideration of 0.60p per share.

2,777,778

556

 

 

556

On 16 June 2017 the Company issued 14,722,442 new ordinary shares of 0.02p each for a consideration of 0.60p per share.

14,722,442

2,944

 

 

2,944

On 23 June 2017 the Company issued 4,273,505 new ordinary shares of 0.02p each for a consideration of 0.60p per share.

4,273,505

855

 

 

855

As at 30 June 2017

1,106,060,311

221,213

241,248,512,341

2,412,485

2,633,698

 

 

 

 

No

£

No

£

No

£

No

£

No

£

£

 

Ordinary shares of 0.02p each

Ordinary shares of 0.02p each

Ordinary shares of 0.01p each

Ordinary shares of 0.01p each

Deferred shares of 0.08p each

Deferred shares of 0.08p each

Deferred shares of 0.0001p each

Deferred shares of 0.0001p each

Deferred shares of 0.019p each

Deferred shares of 0.019p each

Total share capital

Issued and fully paid

 

 

 

 

 

 

 

 

 

 

 

At 1 January 2016

9,108,171,206

1,821,634

-

-

64,179,632

51,344

-

-

-

-

1,872,978

7 March 2016 (a)

1,333,333,333

266,667

-

-

-

-

-

-

-

-

266,667

1 June 2016 (b)

63,333,333

12,666

-

-

-

-

-

-

-

-

12,666

17 June 2016 (c)

1,922,222,222

384,444

-

-

-

-

-

-

-

-

384,444

At 30 June 2016

12,427,060,094

2,485,411

-

-

64,179,632

51,344

-

-

-

-

2,536,755

 

a)     On 7 March 2016 the Company issued 1,333,333,333 new ordinary shares of 0.02p each for a consideration of 0.03p per share. The Company also issued 666,666,666 warrants with an exercise price of 0.04p each.

 

b)     On 1 June 2016 the Company issued 63,333,333 new ordinary shares of 0.02p each for consideration of 0.03p in satisfaction of creditors totalling £19,000.

 

c)     On 17 June 2016 the Company issued 1,922,222,222 new ordinary shares of 0.02p each for a consideration of 0.0225p per share. The Company also issued 961,111,111 warrants with an exercise price of 0.03p each

 

 

 

 

No

£

No

£

No

£

No

£

No

£

£

 

Ordinary shares of 0.02p each

Ordinary shares of 0.02p each

Ordinary shares of 0.01p each

Ordinary shares of 0.01p each

Deferred shares of 0.08p each

Deferred shares of 0.08p each

Deferred shares of 0.0001p each

Deferred shares of 0.0001p each

Deferred shares of 0.019p each

Deferred shares of 0.019p each

Total share capital

Issued and fully paid

 

 

 

 

 

 

 

 

 

 

 

At 1 January 2016

9,108,171,206

1,821,634

-

-

64,179,632

51,344

-

-

-

-

1,872,978

7 March 2016 (a)

1,333,333,333

266,667

-

-

-

-

-

-

-

-

266,667

1 June 2016 (b)

63,333,333

12,666

-

-

-

-

-

-

-

-

12,666

17 June 2016 (c)

1,922,222,222

384,444

-

-

-

-

-

-

-

-

384,444

 

12,427,060,094

2,485,411

-

-

64,179,632

51,344

-

-

-

-

2,536,755

30 August 2016 (d)

 

 

 

 

 

 

 

 

 

 

 

Subdivision of deferred shares (d) (i) and (ii)

-

-

-

-

(64,179,632)

(51,344)

5,134,370,560

51,344

-

-

-

Subdivision of ordinary shares

(12,427,060,094)

(2,485,411)

12,427,060,094

124,270

-

-

-

-

12,427,060,094

2,361,141

-

 

-

-

12,427,060,094

124,270

-

-

5,134,370,560

51,344

12,427,060,094

2,361,141

-

Subdivision of ordinary shares

621,353,005

124,270

(12,427,060,094)

(124,270)

 

 

 

 

 

 

-

 

 

 

 

 

 

 

236,114,141,786

2,361,141

(12,427,060,094)

(2,361,141)

-

 

621,353,005

124,270

-

-

-

-

241,248,512,346

2,412,485

-

-

2,536,755

9 November 2016 (e)

1,602,563

320

-

-

-

-

-

-

-

-

320

4 October 2016 (f)

125,000,000

25,000

-

-

-

-

-

-

-

-

25,000

25 October 2016 (g)

6,247,330

1,250

-

-

-

-

-

-

-

-

1,250

As at 31 December 2016

754,202,898

150,840

-

-

-

-

241,248,512,346

2,412,485

-

-

2,563,325

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

a)     On 7 March 2016 the Company issued 1,333,333,333 new ordinary shares of 0.02p each for a consideration of 0.03p per share. The Company also issued 666,666,666 warrants with an exercise price of 0.04p each.

 

b)     On 1 June 2016 the Company issued 63,333,333 new ordinary shares of 0.02p each for consideration of 0.03p in satisfaction of creditors totalling £19,000.

 

c)     On 17 June 2016 the Company issued 1,922,222,222 new ordinary shares of 0.02p each for a consideration of 0.0225p per share. The Company also issued 961,111,111 warrants with an exercise price of 0.03p each.

 

 

d)     On 30 August 2016 undertook a capital reorganisation comprising three subdivisions:

 

·      The company subdivided of the 64,179,632 existing deferred shares of £0.0008 each in the capital of the Company into 5,134,370,560 deferred shares of £0.00001 each in the capital of the Company.

 

·      Then, the 12,427,060,094 Existing Ordinary Shares were subdivided into two share classes:

 

 

(i)            12,427,060,094 ordinary shares of £0.00001 each in the capital of the Company (the "Subdivided Ordinary Shares"); and

(ii)           12,427,060,094 deferred shares of £0.00019 each in the capital of the Company (the "New Deferred Shares") (the "Second Subdivision").

 

 

 

·      The 12,427,060,094 new deferred shares will then be subdivided into 236,114,141,786 deferred shares of 0.001p each.

 

·      The subdivided Ordinary Shares were consolidated into 621,353,005 ordinary shares of £0.0002 each in the capital of the Company (the "Consolidated Shares") (the "Consolidation"), the Consolidated Shares have the same rights and are subject to the same restrictions as the Existing Ordinary Shares.

 

e)     On 9 November 2016 the Company issued 1,602,563 Ordinary shares of 0.02p each for consideration of 0.54p each on exercise of warrants.

 

f)     On 4 October 2016 the Company issued 125,000,000 Ordinary shares of 0.02p each for consideration of 0.40p each. The company also issued 62,500,000 warrants with an exercise price of 0.54p each

 

g)     On 25 October 2016 the Company issued 6,247,330 Ordinary shares of 0.02p in settlement of invoices totalling £28,000.

 

 

7.         Distribution of interim report to shareholders

 

The interim report will be available for inspection by the public at the registered office of the company during normal business hours on any weekday and from the Company's website http://www.edenville-energy.com/. Further copies are available on request.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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