Last checked at 17 Jul 2014 07:00
17 July 2014
Clontarf Energy plc
("Clontarf" or "the Company")
Conversion of Debt
Clontarf Energy Plc announces that pursuant to the receipt of conversion notices in respect of loans from its South American lenders, it has agreed to issue 79,767,067 ordinary shares at a price of 0.75p per share in respect of the total principal amount outstanding and interest accrued (the "Loan Shares").
Application will be made for the Loan Shares to be admitted to trading on AIM and it is expected that dealings will commence on 24 July 2014. Following admission of the Loan Shares, the Company's issued share capital will consist of 287,183,511 Ordinary Shares, with each ordinary share carrying the right to one vote. The Company does not hold any ordinary shares in treasury. This figure of 287,183,511 may therefore 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.
ENDS
For further information please visit http://clontarfenergy.com or contact:
Clontarf Energy plc
John Teeling, Chairman +353 (0) 1 833 2833
James Finn, Director
Nominated Adviser and Broker
Northland Capital Partners Limited
Gavin Burnell / Lauren Kettle +44 (0)20 7382 1100
Alice Lane / John Howes (Broking)
Public Relations
Blytheweigh +44 (0)20 7138 3204
Tim Blythe +44 (0) 7816 924 626
Halimah Hussain +44 (0) 7725 978 141
Camilla Horsfall +44 (0) 7871 841 793
Pembroke Communications
Natalie Tennyson +353 (0) 1 649 6486
Alan Tyrrell +353 (0) 1 649 6486