RNS10 Apr 2019 16:32
Shareholder Loan Conversion
10 April 2019: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) announces the receipt of a shareholder loan conversion notice in relation to 1,049,643 shares from lenders at a conversion price of 10.0p per share.
In relation to this conversion, the Company has issued and allotted 1,049,643 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 15 April 2019.
Following admission of the Ordinary Shares, the Company's enlarged issued share capital will comprise 315,975,997 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.