MetalNRG PLC ISSUE OF CONVERTIBLE LOAN NOTES
RNS Number : 3921A
02 February 2022
2 February 2022
("MetalNRG" or the "Company")
ISSUE OF CONVERTIBLE LOAN NOTES
MetalNRG (LON:MNRG), the natural resources and energy investment
company , today announces that it has agreed to issue up to
GBP200,000 of Convertible Loan Notes ("CLN") to Global Investment
Strategy UK Limited ("GIS").
The CLN carry the following conditions; the CLN are fixed rate,
unsecured loan notes carrying a simple, non-compounding interest
rate of 10% per annum (accruing on a daily basis).
The CLN are repayable, if not previously converted, on the
applicable maturity date. The maturity date will be , either:
(a) the date falling 6 months after the date of execution of the
CLN instrument or
(b) the date of the first material equity fund raising by the
Company following the date of execution of the CLN instrument.
Holders of the CLN may convert the principal and interest into
new ordinary shares in the capital of MetalNRG ("New Shares") at a
price equal to a 20% discount to the average price at which New
Shares are issued by MetalNRG.
The CLN instrument contains customary events of default and
should an event of default occur, the conversion price will be
equal to the nominal value of MetalNRG ordinary shares.
Conversion of the CLN is subject to the Company maintaining
sufficient headroom within the Company's share authorities or, if
required, the Company filing a secondary prospectus which will
enable the admission to listing and trading of the further New
Shares to be issued on conversion.
A copy of the CLN Instrument will be posted on the Company's web
Christopher Latilla-Campbell +44 (0) 20 7796 9060
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey +44 (0) 20 7469 0930
SI CAPITAL LIMITED
Nick Emerson +44 (0) 1483 413500
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