Completion of £250,000 Placing

RNS Number : 6565H

Edenville Energy PLC

02 December 2015

 

2 Dec 2015                                                                                            

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Completion of £250,000 Placing

The Company is pleased to announce completion of a placing of 625,000,000 new ordinary shares of 0.02p each in the capital of the Company ("New Ordinary Shares" or "Placing Shares") at 0.04 pence per New Ordinary Share (the "Placing").

The funds from the Placing will bring new money into the Company and will be used to advance work on the power plant engineering tasks with Runh Power, along with moving forward negotiations on the development of the Rukwa project with the Tanzanian Ministry of Energy and Minerals (MEM) and Tanzanian Electric Supply Company (Tanesco).  The company has always used funds prudently and only raised capital when needed to advance the project and to ensure its continued operational viability and commitments. The Company will continue to operate in this manner and only seek funding when appropriate or available.

Application will be made for the Placing shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 7 December 2015. Following the Placing, the issued share capital of the Company will be 9,108,171,206. The shares issued in the Placing will rank pari passu with the existing ordinary shares.

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that, following the Placing, it has 9,108,171,206 ordinary shares of 0.02p each in issue, each share carrying the right to one vote. The Company does not hold any ordinary shares in treasury.

The above figure of 9,108,171,206 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Contact
Edenville Energy Plc Rufus Short - CEO	[phone]
Cantor Fitzgerald Europe (Nominated Advisor and Corporate Broker) Stewart Dickson Jeremy Stephenson Phil Davies	[phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring	[phone]

 

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