Conversion of Convertible Loan Notes

RNS Number : 2650G
Velocys PLC
05 November 2018
 

News release

Velocys plc

("Velocys" or "the Company")

5 November 2018

 

Conversion of convertible loan notes

Velocys plc (VLS.L), the renewable fuels company, today announces that it has served conversion notices to the holders of the £9 million nominal convertible loan notes that it issued on 1 June 2017 (the "CLNs").

 

The CLNs (plus interest accrued thereon) will convert into an aggregate of 20,100,000 new ordinary shares at a conversion price of £0.50 per share in accordance with the terms of the CLNs.  Application will be made for 20,100,000  new ordinary shares to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 16 November 2018 ("Admission").

 

 

Total Voting Rights

With effect from Admission, the Company's issued share capital will comprise of 410,422,765 ordinary shares, with one voting right per share. Upon Admission, the figure of 410,422,765  may 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

- Ends -

 

 For further information, please contact:

Velocys

David Pummell, CEO

 

+44 1235 838 621

 

Numis Securities (Nomad and joint broker)

Alex Ham

Stuart Skinner

Jamie Lillywhite

Tom Ballard

 

 

+44 20 7260 1000

Canaccord Genuity (Joint broker)

Henry Fitzgerald-O'Connor

Ben Griffiths

 

 

+44 20 7523 8000

 



Camarco (Financial communications & PR)

Billy Clegg

Georgia Edmonds

Tom Huddart

 

+44 20 3757 4983

 



 

www.velocys.com 


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