Clean Invest Africa plc
(“CIA” or the “Company”)
Result of General Meeting and Admission to Trading
Approval of acquisition of CoalTech Limited and Coal Agglomeration South Africa (Pty) Ltd
The Company is pleased to announce that at the General Meeting of the Company held today, all resolutions were duly passed.
Admission will become effective today and trading in the Ordinary Shares will commence at 8.00 a.m.
It has come to the Company’s attention that a member of the Concert Party who was deemed to be a Non- SA Vendor pursuant to the Acquisition, has been reclassified as a SA Resident Vendor. Accordingly, Consideration Shares of 49,391,382 to Jan Batist De Wachter are expected to be issued on about 30 August 2019, instead of presently. There is no change to the overall number of Consideration Shares to be issued.
Pursuant to the Acquisition, and taking into account Mr De Wachter’s Consideration Shares, 731,022,842 new Ordinary Shares have been issued. The remaining 256,845,316 SA Resident Vendor Consideration Shares are expected to be issued on about 30 August 2019. A further announcement will be made in due course. At a deemed Acquisition value including the SA Resident Vendor Consideration Shares, based on 2.75 pence per Share, the Company has a valuation of approximately £31,000,000.
A copy of the Admission Document is available at: https://www.cleaninvestafrica.com/.
Following the issue of the 731,022,842 Non-SA Resident Vendor Consideration Shares, there are now 892,122,842 Ordinary Shares of £0.0025 each in issue. 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.
The Directors of the Company accept responsibility for the contents of this announcement.
Clean Invest Africa PLC
Noel Lyons/Paul Ryan
Telephone: +44 7912 514 809/ +32 475 754 148
Peterhouse Capital Limited
Guy Miller/Mark Anwyl
Telephone: 020 7220 9795All Announcements