Cradle Arc Plc / EPIC: CRA.L / Market: AIM / Sector: Mining
1 March 2018
Cradle Arc plc
("Cradle Arc" or the "Company")
Conversion of Loan Notes & Total Voting Rights
Cradle Arc, the African focused base and precious metals exploration and production company, announces that a holder (the "Noteholder") of certain of the convertible loan notes issued by the Company on 16 January 2017 (the "Notes") has elected to convert its Notes into new ordinary shares of £0.0001 each in the capital of the Company ("Ordinary Shares") under the terms of the Notes.
Accordingly, 1,088,436 new Ordinary Shares (the "Conversion Shares") have been issued to the Noteholder at a price of 4.59375 pence per share in accordance with the terms of the Notes.
Total Voting Rights
Application has been made for the admission of the Conversion Shares to trading on AIM, with such admission expected to become effective at 8.00 a.m. on 7 March 2018. Following admission, the share capital of the Company will comprise 208,357,806 Ordinary Shares and, accordingly, the total number of voting rights will be 208,357,806.
The above figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Cradle Arc under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please visit www.cradlearc.com or contact:
Cradle Arc plc
Kevin van Wouw
Tel: +44 (0)20 7499 5881
Strand Hanson Limited
Tel: +44 (0)20 7409 3494
Beaufort Securities Limited
Tel: +44 (0)20 7382 8300
Tamesis Partners LLP
Tel: +44 (0)20 3882 2868
St Brides Partners Limited
Tel: +44 (0)20 7236 1177
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
This information is provided by RNS