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Oracle Power PLC - Exercise of Warrants

RNS Number : 7421X
Oracle Power PLC
23 December 2019
 

23 December 2019

 

Oracle Power PLC

("Oracle", the "Company" or the "Group")

 

Exercise of warrants and issue of equity

 

Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan, announces that it has received a notice of exercise in respect of certain pre-existing warrants to subscribe for 15,882,325 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") at a price of 0.85p per share. The exercise of these warrants amounts to a cash subscription of approximately £135,000.

 

Application will be made to the London Stock Exchange plc for the admission of the 15,882,325 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 2 January 2020.

 

On Admission, the Company will have 1,755,350,959 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,755,350,959 can be used by shareholders as the denominator for the calculations by which they will 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.

 

 

For further information please contact:

 

Oracle Power PLC

Naheed Memon

 

+44 (0) 20 3580 4316

Strand Hanson Limited (Nominated Adviser)

Rory Murphy, James Harris, Jack Botros

 

+44 (0) 20 7409 3494

Brandon Hill Capital Limited (Joint Broker)

Oliver Stansfield

 

+44 (0) 20 3463 5000

Shard Capital (Joint Broker)

Damon Heath

 

+44 (0) 20 7186 9952

 

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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Oracle Power PLC

Price: 0.975

Market: AIM
Market Cap: £17.84 m
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