Eurasia Mining PLC Early Settlement of Loan Through Equity Conversion (4577W)
01 August 2018 - 6:20PM
UK Regulatory
TIDMEUA
RNS Number : 4577W
Eurasia Mining PLC
01 August 2018
Eurasia Mining plc (AIM: EUA)
("Eurasia" or the "Company")
Early Settlement of Loan Through Equity Conversion
Eurasia Mining plc ("Eurasia" or "the Company"), the PGM and
gold producing company, is pleased to announce it has received a
conversion notice from Sanderson Capital Partners ("SCP"),
regarding the outstanding amount of GBP250,000 which was due for
repayment in September of this year.
As per the agreement entered into in May 2017 (See RNS dated 19
May 2017) SCP could at its choosing convert all or part of the
principal amount into ordinary shares in the Company's share
capital at an agreed fixed price of 0.475p per share (reflecting
the share price at the time of the agreement in H1 2017). SCP has
notified the Company that it has elected to utilise this option and
accordingly the Company has today issued 52,631,579 new ordinary
shares ('The New Shares'). SCP has voluntarily agreed an orderly
disposal agreement and intend to remain a supportive shareholder in
Eurasia.
An application will be made for the New Shares to be admitted to
trading on AIM and dealings in these shares are expected to
commence on the 6 August 2018. This concludes the loan agreement
between the parties and repays in full all applicable principal and
interest.
Following the issue of the New Shares the total number of issued
ordinary shares in the Company will then be 2,117,516,768 ordinary
shares and consequently the total number of voting rights in the
Company will be 2,117,516,768. 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 the share capital of the Company under the Disclosure
and Transparency Rules.
Christian Schaffalitzky commented ' We are pleased to fulfil our
obligations under this loan agreement and thank SCP for the support
they have shown the company over the past number of years. We
welcome their continued participation as a supportive shareholder
in our future prospects as we continue to produce at the West
Kytlim Mine, and bring our Monchetundra Project towards
production.'
Enquiries:
Eurasia Mining Plc
Christian Schaffalitzky
+44 (0)207 932 0418
WH Ireland Limited (Nomad and Joint Broker)
Katy Mitchell / James Sinclair-Ford
+44 (0)161 832 2174
First Equity Limited (Joint Broker)
Jason Robertson
Tel: +44 (0)20 7374 2212
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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