Exercise of warrants and issue of equity

RNS Number : 4668Y

Oracle Power PLC

02 January 2020

 

02 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 it has received a notice from Andreas Migge, a non-Executive Director of the Company, that, on 31 December 2019, he exercised certain pre-existing warrants to subscribe for 4,400,000 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") at a price of 0.50p per share. The exercise of these warrants amounts to a cash subscription of approximately £22,000.

Application will be made to the London Stock Exchange plc for the admission of the 4,400,000 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on 8 January 2020.

On Admission, the Company will have 1,759,750,959 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,759,750,959 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	[phone]
Strand Hanson Limited (Nominated Adviser) Rory Murphy, James Harris, Jack Botros	[phone]
Brandon Hill Capital Limited (Joint Broker) Oliver Stansfield	[phone]
Shard Capital (Joint Broker) Damon Heath	[phone]

 

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