logo-loader
viewOracle Power PLC

Oracle Power PLC - Exercise of warrants and issue of equity

RNS Number : 4668Y
Oracle Power PLC
02 January 2020
 

02 JANUARY 2020

 

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 from Andreas Migge, a non-Executive Director of the Company, that, on 31 December 2019, he exercised certain pre-existing warrants to subscribe for 4,400,000 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") at a price of 0.50p per share. The exercise of these warrants amounts to a cash subscription of approximately £22,000.

 

Application will be made to the London Stock Exchange plc for the admission of the 4,400,000 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 8 January 2020.

 

On Admission, the Company will have 1,759,750,959 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,759,750,959 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

 


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.
 
END
 
 
MSCBIGDBRGGDGGB

Quick facts: Oracle Power PLC

Price: 0.9522

Market: AIM
Market Cap: £17.42 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: Oracle Power highlights 'significant' talks over rail...

Headlines from the Proactive UK newsroom. Oracle Power PLC (LON:ORCP) has highlighted recent talks between the Pakistan authorities and the chair of the China-Pakistan Economic Corridor (CPEC) organisation which, among other things, covered proposals to build a rail line through the Thar...

23 hours, 33 minutes ago