Oracle Power PLC Exercise of warrants and issue of equity (9223Z)
January 15 2020 - 8:45AM
UK Regulatory
TIDMORCP
RNS Number : 9223Z
Oracle Power PLC
15 January 2020
15 January 2020
Oracle Power PLC
("Oracle", the "Company" or the "Group")
Exercise of warrants and issue of equity
Oracle Power PLC (AIM:ORCP), the UK energy developer of a
combined lignite coal mine and mine mouth power plant located in
Block VI of the Thar desert in the south-east of the Sindh Province
of Pakistan, announces that today it has received notices from
shareholders of the Company for the exercise of certain
pre-existing warrants to subscribe for, in aggregate, 44,162,192
new ordinary shares of 0.1p each in the capital of the Company
("Ordinary Shares").
Of the 44,162,192 new Ordinary Shares issued, 38,162,192 have
been issued at a price of 0.5 pence per share and 6,000,000 have
been issued at a price of 0.25 pence per share.
The exercise of these warrants amounts to a cash subscription of
GBP205,811 in aggregate.
Application will be made to the London Stock Exchange plc for
the admission of the 44,162,192 new Ordinary Shares to trading on
AIM ("Admission"). Admission is expected to become effective at
8.00 a.m. on 21 January 2020.
On Admission, the Company will have 1,803,913,151 Ordinary
Shares in issue. The Company holds no shares in treasury.
Accordingly, the figure of 1,803,913,151 can be used by
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.
For further information please contact:
Oracle Power PLC +44 (0) 20 3580
Naheed Memon 4316
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
Rory Murphy, James Harris, Jack Botros 3494
Brandon Hill Capital Limited (Joint Broker) +44 (0) 20 3463
Oliver Stansfield 5000
Shard Capital (Joint Broker) +44 (0) 20 7186
Damon Heath 9952
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
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
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