Andalas Energy and Power
Plc
(‘Andalas’, or the ‘Company’)
Correction: Issue
of warrants
The following has been amended in the "Issue of Warrants"
announcement released on 6 December at 9:01am.
“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)."
Has been amended to:
“The warrants have been issued with a 5 year term with a strike
price of 0.05 pence per share; the
basis of calculation being a 25% premium to the closing bid price
(previously announced exercise price was 0.054375 pence per share being a 25% premium to
the closing price)."
All other information within the announcement remains
unchanged. The full amended text appears below.
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 0.05 pence per share; the
basis of calculation being a 25% premium to the closing bid price
(previously announced exercise price was 0.054375 being a 25%
premium to the closing 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 |