Andalas Energy and Power
Plc
(‘Andalas’, or the
‘Company’)
Issue of
warrants
Further to the Company’s announcement of 27 November regarding
the equity investment of £500,000 and provision of a convertible
loan note facility of up to £2 million by 1798 Volantis Fund Ltd
(“Volantis”), 638,569,604 warrants over ordinary shares have been
issued to Volantis.
The warrants have been issued with a 5 year term with a strike
price of 0.5 pence per share; the
basis of calculation being a 25% premium to the closing bid price
(previously announced exercise price was 0.54375 being a 25%
premium to the closing mid-market price).
The Company also confirms that it has received the £500,000
subscription proceeds and notes today’s notification of major
holdings announcement by Lombard Odier Asset Management
(Europe) Limited that they are the
beneficial owner of the entire subscription amount.
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 ('MAR’). Upon the publication of this
announcement via a Regulatory Information Service ('RIS'), this
inside information is now considered to be in the public
domain.
For further information, please contact:
David Whitby |
Andalas Energy and Power Plc |
Tel: +62 21 2783 2316 |
Sarah Wharry
|
Cantor Fitzgerald Europe
(Nominated Adviser and Joint Broker) |
Tel: +44 20 7894 7000 |