2 Jun 2020 14:59
AIM share code: MWG
2 June 2020
Modern Water PLC
("Modern Water" or "Company")
Exercise of Warrants
Total Voting Rights
Modern Water announces that it has received exercise notices in respect of a total of 22,000,000 warrants, exercisable at 0.5p per ordinary share, which results in the receipt of an additional £110,000 cash by the Company.
Application will be made for the admission of 22,000,000 new ordinary shares of 0.25p each ("New Shares") to trading on AIM, and it is expected that dealings in the New Shares will commence on or around 8 June 2020. On admission the New Shares will rank pari passu in all respects with the Company's existing ordinary shares.
Total Voting Rights
Following the admission of the New Shares as described above, the Company's issued share capital will consist of 524,693,214 ordinary shares of 0.25p each, each with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.
The above figure of 524,693,214 may be used by shareholders in the Company as the denominator for the calculation 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 FCA's Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information, please contact:
Modern Water plc | Simon Humphrey, CEO
| +44 (0)20 3827 3439 |
Cairn Financial Advisers LLP (Nominated Adviser)
| Sandy Jamieson Liam Murray Ludovico Lazzaretti
| +44 (0)20 7213 0880 |
Turner Pope Investments (TPI) Limited (Broker) | Andy Thacker / Zoe Alexander | +44 (0) 20 3657 0050 |
About Modern Water
Modern Water was established in 2006 to develop and commercialise water recovery technologies to counter water crisis problems arising from climate change and a growing global population. Having invested £20m over the last 14 years, the results comprise a robust patent portfolio of cutting edge technology, focused on monitoring of contaminated water and decontamination of wastewater, making recycling of water more efficient. Six countries across the world have legislated that Modern Water monitoring test systems are written into their environmental protection legislation.