Result of General Meeting

RNS Number : 9666M

Camco Clean Energy PLC

22 July 2014

 



THIS ANNOUNCEMENT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR NEW ZEALAND OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

22 July 2014

CAMCO CLEAN ENERGY PLC

("Camco" or the "Company")

RESULT OF GENERAL MEETING

On 27 June 2014 the Company announced details of a conditional Placing by N+1 Singer to raise £1.0 million (before expenses) through the issue of 25,000,000 Ordinary Shares at an Issue Price of 4 pence per share and an Open Offer to raise up to a further approximately £0.5m through the issue of up to 13,007,947 New Ordinary Shares at an Issue Price of 4 pence per share. On 15 July 2014 the Company announced that all of the 13,007,947 Open Offer Shares had been subscribed under the Open Offer.

Capitalised terms used in this announcement are as defined and used in the New Circular dated 7 July 2014.

The Company is pleased to announce that at the New General Meeting held earlier today, the New Resolution proposed in connection with the Placing and Open Offer was passed by Shareholders.

Accordingly, application has been made to AIM for the admission of 38,007,947 new Ordinary Shares to be issued pursuant to the Placing and Open Offer, such admission being expected on 23 July 2014. The Open Offer Shares, when issued and fully paid, will rank pari passu in all respects with the existing Ordinary Shares of €0.01 each.

The following table sets out the Directors' shareholdings and percentage interests in the issued share capital of the Company following Admission, including shares taken up by Directors in the Open Offer:

	Number of existing ordinary shares	No. of Open Offer Shares subscribed	Number of Ordinary Shares (following Admission)		Percentage of existing share capital (following Admission)
Scott McGregor	4,241,592	728,559	4,970,151	2.0%
Jonathan Marren	3,310,892	1,203,881	4,514,773	1.8%
Jeff Kenna	2,037,830	124,495	2,162,325	0.9%
Michael Farrow	81,158	5,072	86,230	0.0%
	9,671,472	2,062,007	11,733,479

The new Ordinary Shares (in uncertificated form) are expected to be credited to CREST accounts on 23 July 2014 and definitive share certificates for the new Ordinary Shares (in certificated form) are expected to be despatched to certificated shareholders by 31 July 2014.

Following Admission of the new Ordinary Shares and in accordance with Disclosure and Transparency Rules, the Company's issued voting ordinary share capital will be comprised of 246,135,113 Ordinary Shares of €0.01 each.

The above figure may be used by shareholders as a 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, Camco Clean Energy under the FCA's Disclosure and Transparency Rules.

Enquiries:

Camco Clean Energy plc                                             [phone]

Scott McGregor, Chief Executive Officer

Jonathan Marren, Chief Financial Officer

N+1 Singer (Nominated Adviser and Broker)              [phone]

Andrew Craig

Ben Wright

Newgate Threadneedle

Caroline Forde, Josh Royston, Hilary Millar                      [phone]

 

END

 

 

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