Additional Listing

RNS Number : 6315Y

Alkane Energy PLC

28 January 2014

 

Alkane Energy plc

("Alkane" or the "Company")

Additional Listing

Alkane announces that application has been made to the London Stock Exchange for the admission of 645,352 new ordinary shares of 0.5 pence each. The admission is being made pursuant to the conversion of £100,000 Convertible No.1 Loan Notes 2012 ("Loan Notes").  The Loan Notes were issued on 26 April 2012 in order to raise funds towards the acquisition by the Company of Greenpark Energy Limited, and the holding that has been converted is part of a total of £2,000,000 Loan Notes (the "Convertible Loan") that was issued for that purpose.  The terms of the Convertible Loan are:

·     Interest is at a fixed rate of 7.5% per annum, which is rolled up quarterly in arrears and included as principal to be repaid or converted;

·     If any element of the Convertible Loan is not converted it is otherwise repayable on 27 April 2015;

·     The loan notes are convertible at any time prior to repayment at a conversion price fixed at 17.5 pence per share.

It is expected that admission will occur and dealings in the new ordinary shares will commence at 8.00am on 3 February 2014. Following the admission of the new shares, the issued share capital of the Company will be 124,237,279 ordinary shares.

Enquiries:
Alkane Energy plc Steve Goalby, Company Secretary	01623 827 927
Liberum Capital Clayton Bush Tim Graham	020 3100 2222 020 3100 2225

 

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