23 Apr 2015 07:00
23 April 2015
EDENVILLE ENERGY PLC
("Edenville" or the "Company")
Completion of £250,000 Placing and appointment of adviser
Placing
The Company is pleased to announce completion of a demand led placing of 625,000,000 new ordinary shares of 0.02p each (the "Placing"). The Placing price is equal to the closing bid price of 0.04 pence on 20 April 2015, providing the Company with £250,000 of additional funds.
The Placing has been undertaken with an existing long-term shareholder along with an institution wishing to purchase Edenville stock. The funds from the Placing will bring sufficient new money into the Company in order to complete the mining licence application process along with moving forward discussions with several groups interested to partner with the Company in the Rukwa Coal Project.
Application will be made for the Placing shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 8 May 2015. Following the Placing, the issued share capital of the Company will be 7,811,921,206. The shares issued in the Placing will rank pari passu with the existing ordinary shares.
In addition, the subscribers to the Placing have been issued with 625,000,000 warrants excercisable for 12 months from Admission at 0.054p per warrant into an equivalent number of ordinary shares in the Company.
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that, following the Placing, it has 7,811,921,206 ordinary shares of 0.02p each in issue, each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.
The above figure of 7,811,921,206 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Appointment of adviser
Edenville is pleased to announce the appointment of IFC Advisory Limited as its new financial public relations and investor relations adviser.
Contact
| |
Edenville Energy Plc Rufus Short - CEO | +44 (0) 20 3053 8671 |
Cantor Fitzgerald Europe (Nominated Advisor and Corporate Broker) Stewart Dickson Jeremy Stephenson
| +44 (0) 20 7894 7000 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring | +44 (0) 20 3053 8671 |