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Oracle Power PLC - Conversion Notice and Issue of Equity

RNS Number : 4755Y
Oracle Power PLC
09 September 2020
 

 

 

 

Oracle Power PLC

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

 

Conversion notice and issue of equity

Total voting rights

 

 

Oracle (AIM: ORCP) announces that it has received a conversion notice from the Investors in respect of a further £100,000 of the £1.5 million Share Subscription announced on the 9 July 2020.

 

Accordingly, pursuant to the conversion, the Company has issued, in aggregate, 18,194,057 new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") to the Investors (the "Investor Shares").

 

Following the conversion, £1.0 million remains outstanding for conversion under the Share Subscription.

 

The Investor Shares will rank pari passu in all respects with the existing Ordinary Shares. Application will be made to the London Stock Exchange plc for the admission of the Investor Shares to trading on AIM ("Admission"). It is anticipated that Admission will occur at 8.00 a.m. on or around 14 September 2020 ("Admission").

 

Following Admission, the Company's issued share capital will comprise 2,069,878,598 Ordinary Shares.  As the Company does not hold any shares in treasury, this figure of 2,069,878,598 Ordinary Shares 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, or a change in their interest, in the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Unless defined herein, or the context requires otherwise, capitalised terms used in this announcement carry the same meaning as those ascribed to them in the Company's announcement of 9 July 2020.

 

 

 

*ENDS*

 

For further information:

Oracle Power PLC

Naheed Memon

+44 (0) 203 580 4314

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) 203 463 5000

Shard Capital (Joint Broker)

Damon Heath

Isabella Pierre

 

St Brides Partners Limited (Financial PR)

Susie Geliher

Catherine Leftley

+44 (0) 20 7186 9952

 

 

 

+44 (0) 20 7236 1177

 

 

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Quick facts: Oracle Power PLC

Price: 0.625

Market: AIM
Market Cap: £13.03 m
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