Purchase and Cancellation of Loan Notes (5401Z)
January 17 2011 - 2:00AM
UK Regulatory
TIDMGED
RNS Number : 5401Z
Global Energy Development PLC
17 January 2011
Immediate Release 17 January 2011
GLOBAL ENERGY DEVELOPMENT PLC
(the "Company")
PURCHASE AND CANCELLATION OF LOAN NOTES
Global Energy Development PLC, the Latin America focused
petroleum exploration and production company (LSE-AIM: "GED"),
announces that it has issued 317,000 ordinary shares of 1p each in
consideration for the purchase and cancellation of US$600,000
variable coupon convertible notes due 2012 (the "Notes") plus all
accrued interest due under the Notes.
The new ordinary shares will rank pari passu with the existing
ordinary shares of the Company. Application will be made for the
317,000 new ordinary shares to be admitted to trading on AIM
("Admission") and it is expected that Admission will become
effective and dealings in the new ordinary shares will commence at
08:00 a.m. on or around 20 January 2011.
As a result of this issue, the Company's issued share capital
now consists of 35,756,009 ordinary shares of 1p each. The Company
does not hold any shares in treasury. Therefore, the total number
of ordinary shares with voting rights is 35,756,009. The above
figure may 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
share capital of the Company under the FSA Disclosure and
Transparency Rules.
For further information:
Global Energy Development PLC
Patrick Garo, Company Secretary +44 (0)20 3178 5156
www.globalenergyplc.com +44 (0)7909918034
Matrix Corporate Capital LLP
Louis Castro +44 (0)20 3206 7000
Tim Graham +44 (0)20 3206 7000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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