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Interim Results

15 Sep 2017 07:00

RNS Number : 8193Q

Edenville Energy PLC

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

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.

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

IR QZLFFDKFFBBK

Date		Source	Headline
16th Aug 2023	7:00 am	RNS	Appointment of Joint Corporate Broker
15th Aug 2023	7:00 am	RNS	Change of Admission Date
3rd Aug 2023	5:40 pm	RNS	Result of AGM,Directorate Change,Director Dealings
10th Jul 2023	7:00 am	RNS	Notice of AGM
4th Jul 2023	11:14 am	RNS	Holding(s) in Company
30th Jun 2023	7:00 am	RNS	Annual Results for the year ended 31 December 2022
22nd Jun 2023	2:51 pm	RNS	Holding(s) in Company
21st Jun 2023	5:43 pm	RNS	Holding(s) in Company
19th Jun 2023	5:28 pm	RNS	Holding(s) in Company
5th Jun 2023	9:30 am	RNS	Holding(s) in Company
2nd Jun 2023	11:25 am	RNS	Holding(s) in Company
2nd Jun 2023	7:00 am	RNS	Proposed Change of Name
1st Jun 2023	9:05 am	RNS	Strategic Investment and Board Changes
24th May 2023	12:33 pm	RNS	Holding(s) in Company
23rd May 2023	4:01 pm	RNS	Holding(s) in Company
11th Apr 2023	7:00 am	RNS	Rukwa Production Update
28th Mar 2023	9:16 am	RNS	Rukwa Operational Update
24th Mar 2023	4:54 pm	RNS	Holding(s) in Company
9th Feb 2023	7:00 am	RNS	Rukwa Operational Update
16th Dec 2022	9:07 am	RNS	Holding(s) in Company
14th Dec 2022	9:26 am	RNS	Holding(s) in Company
13th Dec 2022	11:38 am	RNS	Holding(s) in Company
13th Dec 2022	10:21 am	RNS	Rejection of Unfair Dismissal Claim
7th Dec 2022	9:39 am	RNS	Holding(s) in Company
6th Dec 2022	7:00 am	RNS	Placing to raise £0.4 million & Operational Update
9th Nov 2022	7:00 am	RNS	Rukwa Operational Update & Corporate Update
13th Oct 2022	7:00 am	RNS	Directors’ Dealings
11th Oct 2022	7:00 am	RNS	Rukwa Coal Project Operational Update
29th Sep 2022	9:48 am	RNS	Interim Results
18th Aug 2022	5:20 pm	RNS	Directors’ Dealings
16th Aug 2022	7:00 am	RNS	New Coal Mining Agreement
4th Aug 2022	7:00 am	RNS	Directorate Change
3rd Aug 2022	2:05 pm	RNS	Second Price Monitoring Extn
3rd Aug 2022	2:00 pm	RNS	Price Monitoring Extension
3rd Aug 2022	12:00 pm	RNS	Corporate Update
3rd Aug 2022	11:27 am	RNS	Result of AGM
8th Jul 2022	4:30 pm	RNS	Notice of AGM
5th Jul 2022	7:00 am	RNS	Board Changes
30th Jun 2022	7:00 am	RNS	Results for the year ended 31 December 2021
31st May 2022	7:00 am	RNS	Termination of Coal Mining Agreement
26th May 2022	3:46 pm	RNS	Holding(s) in Company
18th May 2022	1:15 pm	RNS	Operational Update Rukwa Coal Project
4th May 2022	3:52 pm	RNS	Operational Update Rukwa Coal Project
3rd Feb 2022	1:20 pm	RNS	New Coal Mining Agreement Signed
12th Jan 2022	7:00 am	RNS	Appointment of Broker
4th Jan 2022	7:00 am	RNS	Appointment of Interim Broker
7th Dec 2021	2:06 pm	RNS	Second Price Monitoring Extn
7th Dec 2021	2:01 pm	RNS	Price Monitoring Extension
7th Dec 2021	11:06 am	RNS	Second Price Monitoring Extn
7th Dec 2021	11:00 am	RNS	Price Monitoring Extension

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