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RNS Number : 9223Z
Oracle Power PLC
15 January 2020
 

 15 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 today it has received notices from shareholders of the Company for the exercise of certain pre-existing warrants to subscribe for, in aggregate, 44,162,192 new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares").

 

Of the 44,162,192 new Ordinary Shares issued, 38,162,192 have been issued at a price of 0.5 pence per share and 6,000,000 have been issued at a price of 0.25 pence per share.

 

The exercise of these warrants amounts to a cash subscription of £205,811 in aggregate.

 

Application will be made to the London Stock Exchange plc for the admission of the 44,162,192 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 21 January 2020.

 

On Admission, the Company will have 1,803,913,151 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,803,913,151 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.


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