MetalNRG PLC Issue of Convertible Loan Notes (2746R)
June 26 2020 - 11:19AM
UK Regulatory
TIDMMNRG
RNS Number : 2746R
MetalNRG PLC
26 June 2020
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
26 June 2020
MetalNRG plc
("MetalNRG" or the "Company")
Issue of a Convertible Loan Note
MetalNRG (LON:MNRG), the natural resource investing and
exploration company, today announces that, it has entered into an
agreement, via SI Capital and Peterhouse Capital, the Company's
brokers, with a number of shareholders in relation to the issue of
up to GBP375,000 of Convertible Loan Notes ("CLNs"). All MetalNRG
Directors have participated in the issue.
In summary the CLNs carry the following conditions; up to
GBP375,000 of the CLNs will be issued; the CLNs are fixed rate,
unsecured loan notes carrying a simple, non-compounding interest
rate of 10% per annum (accruing on a daily basis) with an expiry
date of 31 January 2021.
The CLNs are repayable, if not previously converted, on 31
January 2021.
Holders of the CLNs may convert them into new MetalNRG plc
Ordinary Shares ("New Shares") at a price of 0.6 pence or at 85% of
the average published volume weighted average share price over the
10 trading days prior to conversion ("VWAP") at any time prior to
or on 31 January 2021.
Conversion is subject to the Company maintaining sufficient
headroom within the Company's share authorities or the Company
filing a prospectus which will enable the admission to listing and
trading of New Shares to be issued on conversion.
A copy of the CLN Instrument will be posted on the Company's web
site.
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014:
The release of this information was arranged by Rolf Gerritsen,
Chief Executive Officer.
END
Contact details:
MetalNRG PLC
Christopher Latilla-Campbell +44 (0) 20 7796 9060
Corporate Adviser
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey +44 (0) 20 7469 0930
----------------------
Corporate Broker
SI CAPITAL LIMITED
Nick Emerson +44 (0) 1483 413500
----------------------
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
IODFLFLERFIRFII
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