Update re: Collateral Shares issued to Lind

RNS Number : 9582X

Edenville Energy PLC

03 May 2019

 

3 May 2019

EDENVILLE ENERGY PLC

("Edenville" or the "Company" or the "Group")

Update re: Collateral Shares issued to Lind

Following the Company's General Meeting on 15 February 2019 and pursuant to the terms of the Conditional Convertible Funding Agreement between Lind and the Company, which was first announced on 6 November 2018 (the "Funding Agreement"), Edenville Energy Plc (AIM: EDL), the AIM quoted company developing a coal project in southwest Tanzania, issued 36,000,000 ordinary shares of 0.02p each ("Ordinary Shares") to an entity managed by Lind Partners LLC ("Lind") as collateral for advancing funds (the "Collateral Shares").

Lind have now elected to own the Collateral Shares outright by paying for the Collateral Shares at a price of 0.02p per Collateral Shares being the 5 days VWAP of the Company's share price on 17 - 25 April 2019. There are no changes in the total issued share capital of the Company.

For further information please contact:

Edenville Energy Plc Jeff Malaihollo - Chairman Rufus Short - CEO	[phone]
SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) David Hignell Jamie Spotswood Abigail Wayne	[phone]
Brandon Hill Capital Ltd (Joint Broker) Oliver Stansfield, Jonathan Evans	[phone]
IFC Advisory Limited (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong	[phone]

 

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