Oracle Power PLC Exercise of Warrants (4035R)
June 29 2020 - 8:15AM
UK Regulatory
TIDMORCP
RNS Number : 4035R
Oracle Power PLC
29 June 2020
29 June 2020
Oracle Power PLC
("Oracle" or the "Company")
Exercise of Warrants by HH Sheikh Ahmed Bin Dalmook Juma Al
Maktoum
& Issue of Equity
Oracle Power PLC (AIM:ORCP) announces that today it has received
notices of exercise from the private office of His Highness Sheikh
Ahmed Bin Dalmook Juma Al Maktoum ("HH Private Office") in respect
of certain pre-existing warrants to subscribe for, in aggregate,
100,000,000 new ordinary shares of 0.1p each in the capital of the
Company ("Ordinary Shares") at a price of 0.25 pence per share. The
exercise of these warrants amounts to an aggregate cash
subscription of GBP250,000.
Application will be made to the London Stock Exchange plc for
the admission of the 100,000,000 new Ordinary Shares to trading on
AIM ("Admission"). Admission is expected to become effective at
8.00 a.m. on 3 July 2020. On Admission HH Private Office will hold
300,000,000 Ordinary Shares of the shares in issue.
On Admission, the Company will have 1,977,913,151 Ordinary
Shares in issue. The Company holds no shares in treasury.
Accordingly, the figure of 1,977,913,151 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.
Naheed Memon, CEO of Oracle, said:
"The continued support that we receive from His Highness Sheikh
Ahmed Bin Dalmook Juma Al Maktoum is gratefully received and I am
delighted that he is increasing his exposure to Oracle Power as a
long-term strategic investor. With the overall shareholding of HH
Private Office increasing by 50%, I believe that today's exercise
of warrants reinforces His Highness's confidence in the quality of
our existing interests and our ability to deliver on our commercial
milestones. This is also a testament to the trust he places in the
management of the Company and the belief he has in Oracle's
potential to grow into an international natural resource and power
developer. The management is striving to expedite progress at Thar
Block VI Project and achieve its stated commercial and operational
objectives. The board appreciates the support of its strategic and
investment partners and remains committed to delivering high
returns for the benefit of all stakeholders."
**ENDS**
For further information please contact:
Oracle Power PLC +44 (0) 203 580
Naheed Memon 4314
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
Rory Murphy, James Harris, Jack Botros 3494
Brandon Hill Capital Limited (Joint Broker) +44 (0) 203 463
Oliver Stansfield 5000
Shard Capital (Joint Broker)
Damon Heath
Isabella Pierre
St Brides Partners Limited (Financial +44 (0) 20 7186
PR) 9952
Susie Geliher +44 (0) 20 7236
Catherine Leftley 1177
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
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END
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