24 Jan 2019 07:00
News Release
Shareholder Loan Conversion
24 January 2019: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) Ncondezi Energy announces the receipt of shareholder loan conversion notice in relation to 2,244,221 shares from lenders at a conversion price of 10.0p per share.
The Company has issued and allotted 2,244,221 new ordinary shares of no par value ("Ordinary Shares"). An application has been made for the Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM with admission expected to take place at 8.00 am on 31 January 2019.
Following admission of the Ordinary Shares, the Company's enlarged issued share capital will comprise 285,070,294 ordinary shares with voting rights. This figure 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 in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Enquiries
For further information please visit www.ncondezienergy.com or contact:
Ncondezi Energy: | Hanno Pengilly | +27 (0) 71 362 3566 |
Liberum Capital Limited:NOMAD & Joint Broker
| Christopher Britton / Richard Crawley | +44 (0) 20 3100 2000 |
Novum Securities Limited Joint Broker | Colin Rowbury | +44 (0) 20 7399 9427 |
Note:
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Hanno Pengilly, Chief Development Officer of the Company (responsible for arranging release of this announcement) on +27 (0) 71 362 3566.
Ncondezi owns 100% of the Ncondezi Project which is strategically located in the power generating hub of the country, the Tete Province in northern Mozambique. The Company is developing an integrated thermal coal mine and power plant in phases of 300MW up to 1,800MW. The first 300MW phase is targeting domestic consumption in Mozambique using reinforced existing transmission capacity to meet current demand.