Published on 26/7/2019 • Category:
TIDMCIA
Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
until the release of this announcement.
26 July 2019
Clean Invest Africa plc ("Clean Invest Africa" or the "Company")
Issue of Convertible Loan Notes and Equity
Clean Invest Africa Plc (NEX:CIA), the NEX Exchange quoted clean technology and
renewable energy investment company, is pleased to announce that it has issued
unsecured convertible loan notes for a total of GBP130,000 (the "CLNs"). The CLNs
have an annual coupon of 8%, expire on 24th July 2020 and are convertible into
4,727,272 ordinary shares of 0.25p each in the Company ("Shares") at a price of
2.75 pence per share being the listing price of the Company on its recent
re-admission. The funds raised as a result of the issue of the CLNs will be
used to provide additional working capital for the Company.
Two Directors of the Company, Mr Noel Lyons and Mr Paul Ryan have subscribed
for the CLNs as follows:
Director GBP
Mr N Lyons (Non-Executive 65,000
Director)
Mr Paul Ryan (Non-Executive 65,000
Director)
Total 130,000
In addition to the working capital requirements, a number of creditors have
agreed to settle outstanding invoices totalling GBP54,000, into a total of
2,088,888 Ordinary Shares comprising 1,200,000 Ordinary Shares at GBP0.025 per
share (being equivalent to GBP30,000.00 including VAT and 888,888 Ordinary Shares
at GBP0.027 (being equivalent to GBP24,000.00 including VAT) (the "Conversion
Shares").
Filippo Fantechi, Director of Clean Invest Africa plc and CEO of CoalTech
Group, commented "By participating in this modest fund raising at the listing
price of 2.75p, the two Directors have shown their continuing confidence in the
Company.
The operating business, CoalTech Group, continues to have bright prospects
particularly through international expansion and we will update shareholders as
events unfold."
Related party transaction and shareholder vote
The participation of the directors of the Company in the CLNs constitutes a
related party transaction and those directors considered to be independent in
relation to the transaction, consider that the terms of the transaction are
fair and reasonable insofar as the Company's shareholders are concerned.
Details of the Conversion Shares
Application will be made for the Conversion Shares, which will rank pari
passu with the existing ordinary shares in the Company, to be admitted to
trading on NEX ("Admission"). It is expected that admission will become
effective and dealings will commence at 8:00 a.m. on or around 2 August 2019.
Total Voting Rights
Following the issue of the Conversion Shares, the total issued share capital of
the Company will consist of 894,211,730 ordinary shares of 0.25p each in issue,
none of which are held in treasury. Therefore, the total number of voting
rights in the Company is 894,211,730.
The above figure of 894,211,730 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 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
ENQUIRIES:
ENQUIRIES:
Company
Clean Invest Africa PLC
Noel Lyons/Paul Ryan
Telephone: +44 7912 514 809/ +32 475 754 148
Corporate Adviser
Peterhouse Capital Limited
Guy Miller/Mark Anwyl
Telephone: 020 7220 9795
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. Details of the person discharging managerial responsibilities/
person closely associated
a) Name: Mr. NOEL LYONS
2. Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name: Clean Invest Africa plc
b) LEI: 21380018O4YRPUEJUS57
4. Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
a) Description of the financial Ordinary shares of 0.25
instrument, type of instrument: pence each
Identification code: ISIN:GB00BF52QX07
b) Nature of the transaction: a. CLN Subscription
b. Issue of shares in
lieu of fees
c) Price(s) and volume(s): a. CLN Subscription
Price(s) Volume(s)
2.75 p 2,363,636
d) Aggregated information: See 4c) above
Aggregated volume:
Price:
e) Date of the transaction: 26 July 2019
f) Place of the transaction: Outside a trading venue
1. Details of the person discharging managerial responsibilities/
person closely associated
a) Name: Mr. Paul Ryan
2. Reason for the notification
a) Position/status: Non-Executive Director
b) Initial notification/Amendment: Initial notification
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
a) Name: Clean Invest Africa plc
b) LEI: 21380018O4YRPUEJUS57
4. Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
a) Description of the financial Ordinary shares of 0.25
instrument, type of instrument: pence each
Identification code: ISIN:GB00BF52QX07
b) Nature of the transaction: a. CLN Subscription
c) Price(s) and volume(s): a. CLN Subscription
Price(s) Volume(s)
2.75 p 2,363,636
d) Aggregated information: See 4c) above
Aggregated volume:
Price:
e) Date of the transaction: 26 July 2019
f) Place of the transaction: Outside a trading venue
END
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