i3 Energy PLC Loan Conversion (2672P)

TIDMI3E

RNS Number : 2672P

i3 Energy PLC

25 May 2018

i3 Energy plc

("i3" or the "Company")

Loan Conversion

The Company announces that on 25 May 2018, in relation to the Loan Note Agreement as announced on 6 February 2018, it received notice of exercise from James Caird Asset Management ("JCAM") to convert part of the loan with an aggregate par value of US$500,000, into shares. Following this conversion, the value outstanding on the Loan will be US$1,000,000.

i3 Energy has therefore today allotted 925,926 ordinary shares to JCAM which will rank pari passu in all respects with the existing ordinary shares.

Application has been made for these new ordinary shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 1 June 2018.

Following Admission, the Company's enlarged issued share capital will comprise 37,623,250 ordinary shares. The Company does not hold any shares in treasury. The total voting rights in the Company is therefore 37,623,250 ordinary shares and this figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

CONTACT DETAILS:

 
  i3 Energy plc 
  Neill Carson (CEO) / Graham Heath      c/o Camarco 
   (CFO)                                  Tel: +44 (0) 203 757 
                                          4980 
 
    WH Ireland Limited (Nomad and Joint 
    Broker) 
  James Joyce, James Sinclair-Ford       Tel: +44 (0) 207 220 
                                          1666 
  GMP FirstEnergy (Joint Broker) 
  Jonathan Wright, David van Erp         Tel: +44 (0) 207 448 
                                          0200 
  Camarco 
  Georgia Edmonds, Jane Glover, James    Tel: +44 (0) 203 757 
   Crothers                               4980

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END

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