Join our Investor Webinar on the 3rd December 18:00-19:30, with speakers from Sunda Energy and Blencowe Resources. Please register here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksEDL.L Regulatory News (EDL)

  • There is currently no data for EDL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Result of General Meeting & Open Offer

15 Feb 2019 16:08

RNS Number : 2709Q
Edenville Energy PLC
15 February 2019
 

15 February 2019

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Result of General Meeting & Open Offer

Edenville Energy Plc (AIM: EDL), the AIM quoted company developing a coal project in southwest Tanzania, announces that at the General Meeting of the Company held earlier today in London, all resolutions put to shareholders were duly passed.

The votes were cast as follows in respect of Shareholders who have appointed the Chairman of the General Meeting as their proxy:

 

 

Resolution

 

Votes

for

 

 

%

 

Discretionary votes

 

 

%

 

Votes

against

 

 

%

 

Votes

withheld

1

138,417,399

89.49

6,485,722

4.19

9,773,627

6.32

43,353,520

2

142,630,311

92.21

6,485,722

4.19

5,560,715

3.6

43,353,520

3

129,220,836

83.55

6,485,722

4.19

18,970,190

12.26

43,353,520

4

134,984,279

87.27

6,485,722

4.19

13,206,747

8.54

43,353,520

5

134,984,279

87.27

6,485,722

4.19

13,206,747

8.54

43,353,520

 

In addition, the Company announces the results of its Open Offer to raise up to £619,099 which was announced on 30 January 2019 and closed for acceptances, in accordance with its terms, at 11.00 a.m. on 14 February 2019.

The Company announces that it has received valid acceptances and excess applications from Qualifying Shareholders for a total of 52,015,192 Open Offer Shares pursuant to the terms of the Open Offer. As a result, a total of 52,015,192 Open Offer Shares will be issued to those Shareholders that participated in the Open Offer, raising gross proceeds of approximately £62,418. In addition, the Company has raised a further £15,000 following the issue of 12,500,000 Director Subscription Shares to Jeffrey Malaihollo, the Company's Chairman (the "Director Subscription").

The net proceeds of the Open Offer and the Director Subscription will provide the Company with additional working capital.

Directors' Participations in the Open Offer and Director Subscription Shares

The Company confirms that Rufus Short, the Company's CEO, subscribed for a total of 8,333,333 Open Offer Shares. In addition, Jeffrey Malaihollo the Company's Chairman, who was not eligible to apply for Open Offer Shares, has subscribed for 12,500,000 Director Subscription Shares.

 

Following the admission of the Open Offer Shares, the Director Subscription Shares and the Collateral Shares (see below) (together the "New Ordinary Shares") to trading on AIM ("Admission"), the holdings of the Directors in the enlarged issued share capital of the Company will be as follows:

 

Director

Number of Ordinary Shares currently held

Number of Open Offer Shares or Director Subscription Shares subscribed for

Holding following Admission

Percentage holding of Enlarged Share Capital

Rufus Short

3,333,428

8,333,333

11,666,761

0.71%

Jeffrey Malaihollo

0

12,500,000

12,500,000

0.76%

 

Arun Srivastava, the Company's Non-Executive Director, does not currently hold any Ordinary Shares.

Collateral Shares

The Company will now issue 36,000,000 Ordinary Shares to Lind as collateral for advancing funds pursuant to the terms of the Funding Agreement between Lind and the Company (the "Collateral Shares"). Lind will subscribe for the Collateral Shares at their nominal value of 0.02p per Ordinary Share. In addition, the options granted to Lind on 5 November 2018 to acquire a further 99,568,966 Ordinary Shares are now exercisable.

Provided all funds advanced to the Company have been repaid, Lind is required to transfer the Collateral Shares back to the Company after expiry of the term of the Funding Agreement. Lind may however at any time elect to own the Collateral Shares outright by paying the difference between the nominal value and the average five-day VWAP chosen by Lind during the 20 consecutive Business Days before making any such election.

 

Following the issue of the Collateral Shares and together with the options held by Lind, Lind will own a total of 36,000,000 Ordinary Shares in the Company's enlarged issued share capital along with 99,568,966 options over Ordinary Shares. Lind has also advanced a loan to the Company which has a face value of US$900,000 and may be converted at any time by Lind into Ordinary Shares at a conversion price of 0.29p per Ordinary Share.

 

Admission to Trading on AIM and Total Voting Rights

Application has been made for the 100,515,192 New Ordinary Shares, which will rank pari passu with the Company's issued Ordinary Shares, to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 20 February 2019.

Following the issue of the New Ordinary Shares, the Company will have 1,648,261,562 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 1,648,261,562 Ordinary Shares may be used by the Company's shareholders 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 Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Capitalised terms used but not otherwise defined in this announcement bear the meanings ascribed to them in the circular of the Company dated 30 January 2019.

 

For further information please contact:

Edenville Energy Plc

Jeff Malaihollo - Chairman

Rufus Short - CEO

 

+44 (0) 20 3934 6630

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

David Hignell

Jamie Spotswood

Abigail Wayne

 

 

+44 (0) 20 3470 0470

IFC Advisory

(Financial PR and IR)

Tim Metcalfe

Graham Herring

Heather Armstrong

+44 (0) 20 3934 6630

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Rufus Short

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

CEO

 

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Edenville Energy plc

b)

 

LEI

 

 

213800DBIRLNVAHNDU21

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

Ordinary Shares of 0.02p each

Identification code

GB00BFMX4873

b)

 

Nature of the transaction

 

 

Participation in Open Offer

 

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

0.12p

8,333,333

d)

 

Aggregated information

n/a - single transaction

- Aggregated volume

- Price

e)

 

Date of the transaction

 

 

15 February 2019

f)

 

Place of the transaction

 

 

Outside a trading venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Jeffrey Malaihollo

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chairman

b)

 

Initial notification /Amendment

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

Edenville Energy plc

b)

 

LEI

 

 

213800DBIRLNVAHNDU21

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

Ordinary Shares of 0.02p each

Identification code

GB00BD0S4T13

b)

 

Nature of the transaction

 

 

Direct Subscription

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

0.12p

12,500,000

d)

 

Aggregated information

n/a - single transaction

- Aggregated volume

- Price

e)

 

Date of the transaction

 

 

15 February 2019

f)

 

Place of the transaction

 

 

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ROMGGUAUPUPBGQA
Date   Source Headline
16th Aug 20237:00 amRNSAppointment of Joint Corporate Broker
15th Aug 20237:00 amRNSChange of Admission Date
3rd Aug 20235:40 pmRNSResult of AGM,Directorate Change,Director Dealings
10th Jul 20237:00 amRNSNotice of AGM
4th Jul 202311:14 amRNSHolding(s) in Company
30th Jun 20237:00 amRNSAnnual Results for the year ended 31 December 2022
22nd Jun 20232:51 pmRNSHolding(s) in Company
21st Jun 20235:43 pmRNSHolding(s) in Company
19th Jun 20235:28 pmRNSHolding(s) in Company
5th Jun 20239:30 amRNSHolding(s) in Company
2nd Jun 202311:25 amRNSHolding(s) in Company
2nd Jun 20237:00 amRNSProposed Change of Name
1st Jun 20239:05 amRNSStrategic Investment and Board Changes
24th May 202312:33 pmRNSHolding(s) in Company
23rd May 20234:01 pmRNSHolding(s) in Company
11th Apr 20237:00 amRNSRukwa Production Update
28th Mar 20239:16 amRNSRukwa Operational Update
24th Mar 20234:54 pmRNSHolding(s) in Company
9th Feb 20237:00 amRNSRukwa Operational Update
16th Dec 20229:07 amRNSHolding(s) in Company
14th Dec 20229:26 amRNSHolding(s) in Company
13th Dec 202211:38 amRNSHolding(s) in Company
13th Dec 202210:21 amRNSRejection of Unfair Dismissal Claim
7th Dec 20229:39 amRNSHolding(s) in Company
6th Dec 20227:00 amRNSPlacing to raise £0.4 million & Operational Update
9th Nov 20227:00 amRNSRukwa Operational Update & Corporate Update
13th Oct 20227:00 amRNSDirectors’ Dealings
11th Oct 20227:00 amRNSRukwa Coal Project Operational Update
29th Sep 20229:48 amRNSInterim Results
18th Aug 20225:20 pmRNSDirectors’ Dealings
16th Aug 20227:00 amRNSNew Coal Mining Agreement
4th Aug 20227:00 amRNSDirectorate Change
3rd Aug 20222:05 pmRNSSecond Price Monitoring Extn
3rd Aug 20222:00 pmRNSPrice Monitoring Extension
3rd Aug 202212:00 pmRNSCorporate Update
3rd Aug 202211:27 amRNSResult of AGM
8th Jul 20224:30 pmRNSNotice of AGM
5th Jul 20227:00 amRNSBoard Changes
30th Jun 20227:00 amRNSResults for the year ended 31 December 2021
31st May 20227:00 amRNSTermination of Coal Mining Agreement
26th May 20223:46 pmRNSHolding(s) in Company
18th May 20221:15 pmRNSOperational Update Rukwa Coal Project
4th May 20223:52 pmRNSOperational Update Rukwa Coal Project
3rd Feb 20221:20 pmRNSNew Coal Mining Agreement Signed
12th Jan 20227:00 amRNSAppointment of Broker
4th Jan 20227:00 amRNSAppointment of Interim Broker
7th Dec 20212:06 pmRNSSecond Price Monitoring Extn
7th Dec 20212:01 pmRNSPrice Monitoring Extension
7th Dec 202111:06 amRNSSecond Price Monitoring Extn
7th Dec 202111:00 amRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Make Better Investment Decisions

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.