Columbus Energy Resources PLC Issue of Equity and TVR (1220T)
10 October 2017 - 5:00PM
UK Regulatory
TIDMCERP
RNS Number : 1220T
Columbus Energy Resources PLC
10 October 2017
For Immediate Release
10 October 2017
COLUMBUS ENERGY RESOURCES PLC
("Columbus", "CERP" or the "Company")
Allotment and Issue of Ordinary Shares following Receipt of
Conversion Notice
CERP wishes to announce that the Company has received a
conversion notice from Lind Asset Management VII, LLC ("Lind") to
the value of U.S.$150,000, in accordance with the Convertible
Security Funding Agreement entered into on 6 December 2016. The
conversion price is fixed at 4.5 pence per share, as announced on
11 September 2017. Pursuant to this notice, 2,512,333 new ordinary
shares ("New Ordinary Shares") fall to be issued.
The New Ordinary Shares will rank pari passu in all respects
with the Company's existing Ordinary Shares. Application has been
made for the New Ordinary Shares to be admitted to trading on AIM,
("Admission"), and it is expected that Admission will become
effective and that dealings in the New Ordinary Shares will
commence on 13 October 2017.
Following the issue of the New Ordinary Shares, the Company's
enlarged issued share capital will comprise 624,009,835 Ordinary
Shares with voting rights. This figure may be used by Shareholders
in the Company as denominator for the calculations by which they
may determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
On 9 October 2017, the Company announced an acceleration of its
growth strategy funded by way of a Placing and Subscription of
GBP3.1 million and an Open Offer of up to approximately GBP1.0
million. The proposed Open Offer involved the issue of up to
20,048,306 shares at 5.0p per share, on a 1 for 31 basis.
Based on the enlarged share capital, following the issue of New
Ordinary Shares to Lind under the conversion notice, the Open Offer
will now comprise the issue of up to 20,129,349 shares at 5.0p per
share, on a 1 for 31 basis.
Enquiries:
Columbus Energy Resources
Plc +44 (0) 203 794 9230
Leo Koot / Gordon Stein
Beaumont Cornish Limited +44 (0) 20 7628 3396
Nomad and Joint Broker
Roland Cornish / Rosalind
Hill Abrahams
VSA Capital +44 (0) 20 3005 5000
Joint Broker
Andrew Monk / Andrew Raca/
Justin McKeegan
Camarco +44 (0) 20 3757 4983
Public and Investor Relations
Georgia Edmunds / James
Crothers / Billy Clegg
This information is provided by RNS
The company news service from the London Stock Exchange
END
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