RE: Share price22 Nov 2023 19:48
Seemed a good deal, even said so themselves a year ago.
The Facility contains standard warranties and indemnities from the Company.
Issue of Equity and TVR
Application will be made for the 15,550,710 Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or about 14 December 2022. The Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.
Following admission of the Initial Shares, the Company's enlarged issued share capital will comprise 4,287,190,896 Ordinary Shares. The Company does not hold any shares in treasury. This figure of 4,287,190,896 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 and Transparency Rules.
The Board comments:
"This is a good short-term facility providing near-term funding while the engineering team work on the final phase of our Waste Heat Recovery application on which the Board will provide further updates in due course"