Rule 2.10 Announcement

14 Sep 2007 07:01

Global Energy Development PLC14 September 2007 For immediate release 14 September 2007 GLOBAL ENERGY DEVELOPMENT PLC Rule 2.10 Announcement Relevant securities is issue In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, GlobalEnergy Development PLC confirms that on 14 September 2007 it has 35,328,428ordinary shares of 1 pence each ("Ordinary Shares") in issue and there are noOrdinary Shares held in treasury. In addition, the Company has in issueUS$5,798,000 of unsecured variable coupon convertible notes due 30 October 2012which are convertible into Ordinary Shares using a fixed exchange rate of $1.78and a conversion price of 305.8 pence. The Company also has in issueUS$11,903,000 of unsecured variable coupon convertible notes due 8 December 2012which are convertible into Ordinary Shares using a fixed exchange rate ofUS$1.90 and a conversion price of 179 pence. Conversion of the notes on thebasis described above would result in the issue of an additional 4,565,027Ordinary Shares. The ISIN reference for the Ordinary Shares is GB0031461949. For further information: Global Energy Development PLC +44 (0) 20 7763 7177Catherine Miles, Company Secretary +44 (0) 7909918034www.globalenergyplc.com Landsbanki Securities (UK) Limited +44 (0) 20 7426 9000(Financial Adviser to the Company)Jeff Keating / Fred Walsh This information is provided by RNS The company news service from the London Stock Exchange