Ncondezi Energy Limited Issue of Warrants (9208I)
December 16 2020 - 12:02PM
UK Regulatory
TIDMNCCL
RNS Number : 9208I
Ncondezi Energy Limited
16 December 2020
News Release
Issue of Warrants
16 December 2020: Ncondezi Energy Limited ("Ncondezi" or the
"Company") (AIM: NCCL) is pleased to announce that following the
passing of the resolutions at the Annual General Meeting held
earlier today and in accordance with the announcement made on 25
November 2020, a total 8,333,334 Placing warrants and 833,333
Broker warrants related to the Placing concluded on 25 November
2020 will now be issued.
The Placing warrants are non-transferable warrants each carrying
a right to subscribe for an Ordinary Share in the Company with an
exercise period of one year from 8 December 2020 and exercisable at
a price of 7.5 pence per Ordinary Share.
Each Broker Warrant entitles the holder to subscribe for one
Ordinary Share in the Company at the Placing Price of 4.5 pence and
will be exercisable at any time for a period of one year from 8
December 2020.
The total number of Placing warrants include 888,900 warrants
issued to Non Executive Director Scott Fletcher which if exercised
in full, would take his holding to 64,328,587 Ordinary Shares which
would represent 17.5% of the company's enlarged share capital,
assuming that no other warrants are exercised.
Enquiries
For further information please visit www.ncondezienergy.com or
contact:
Ncondezi Energy Hanno Pengilly +27 (0) 71 362 3566
Liberum Capital Limited Scott Mathieson, Edward Thomas, +44 (0) 20 3100
NOMAD & Joint Broker Kane Collings 2000
Novum Securities
Limited +44 (0) 20 7399
Joint Broker Colin Rowbury 9427
Pimlico Advisory
Ltd +44 (0) 777 56 55
Investor Relations Elizabeth Johnson 927
The notification below is made in accordance with the
requirements of the EU Market Abuse Regulation.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Scott Fletcher
---------------------------------- --------------------------------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------------- --------------------------------------------------------------------------
b) Initial notification /Amendment Initial notification
---------------------------------- --------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
--------------------------------------------------------------------------------------------------------------
a) Name Ncondezi Energy Limited
---------------------------------- --------------------------------------------------------------------------
b) LEI 2138003W75PP9STE9J18
---------------------------------- --------------------------------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
--------------------------------------------------------------------------------------------------------------
a) Description of the financial Ncondezi Energy Limited o rdinary shares of no par value
instrument, type of instrument
Identification code VGG640631039
b) Nature of the transaction Warrants to subscribe for an Oridnary Shared at a price of 7.5 pence per
Ordinary Shares.
---------------------------------- --------------------------------------------------------------------------
c) Price(s) and volume(s)
----------------------------------- ----------------------------------
Price(s) Volume(s)
----------------------------------- ----------------------------------
1. nil 1. 888,900
--------------------------------------------------------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 888,900
- Price nil
e) Date of the transaction 16/12/2020
---------------------------------- --------------------------------------------------------------------------
f) Place of the transaction London Stock Exchange, AIM
---------------------------------- --------------------------------------------------------------------------
Note:
About Ncondezi Energy
Ncondezi is an African power development company with an
advanced staged, integrated 300MW thermal coal power plant and mine
project located in the Tete Province, Northern Mozambique.
The Company is focused on providing reliable, affordable and
accessible baseload energy to Mozambique and secure against the
effects of water drought and intermittency of new renewables. This
project supports Mozambique's energy strategy of universal
electricity access by 2030. According to the World Bank, only 30%
of the Mozambican population had access to energy in 2017. The
Ncondezi Project would provide 300MW of reliable and available
power helping to close the infrastructure gap of the region and
serving as a catalyst for economic development.
The power plant will be designed to be equipped with
state-of-the-art emissions controls technologies that will reduce
local air pollutants, minimizing the plant's impact on the
environment and ensuring its compliance with the most stringent
emission standards
In 2019, the Company entered into the Commercial and Industrial
("C&I") renewable and battery storage sector
and in October 2019 announced its first investment in an off
grid solar battery project. The Company has also
secured the right to fund a US$5.5m C&I project development
pipeline in Mozambique through a Relationship
Agreement with a C&I developer. The move into the C&I
solar and battery storage sector offers a significant
opportunity for the Company to complement the existing
large-scale baseload power project and access near-term low-risk
annuity income streams which have significant growth potential.
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END
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