Oracle Power PLC Conversion Notice and Total Voting Rights (7522U)
April 08 2021 - 1:00AM
UK Regulatory
TIDMORCP
RNS Number : 7522U
Oracle Power PLC
08 April 2021
Oracle Power PLC
("Oracle", the "Company" or the "Group")
Conversion Notice and Total voting rights
Oracle Power PLC (AIM: ORCP), the AIM listed natural resources
and power project developer, announces that it has received a
conversion notice from the Investors in respect of a further
GBP100,000 of the GBP1.5 million Share Subscription announced on 9
July 2020.
Accordingly, pursuant to the conversion, the Company will issue,
in aggregate, 20,838,542 new ordinary shares of 0.1p each in the
capital of the Company ("Ordinary Shares") to the Investors (the
"Investor Shares"), split equally between them.
Following the conversion, GBP600,000 remains outstanding for
conversion under the Share Subscription.
The Investor Shares will rank pari passu in all respects with
the existing Ordinary Shares. Application will be made to the
London Stock Exchange plc for the admission of the Investor Shares
to trading on AIM ("Admission"). It is anticipated that Admission
will occur at 8.00 a.m. on AIM on or around 15 April 2021.
Following Admission, the Company's issued share capital will
comprise 2,195,521,479 Ordinary Shares. As the Company does not
hold any shares in treasury, this figure of 2,195,521,479 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 in their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Unless defined herein, or the context requires otherwise,
capitalised terms used in this announcement carry the same meaning
as those ascribed to them in the Company's announcement of 9 July
2020.
*ENDS*
For further information please visit the Company's website,
http://www.oraclepower.co.uk or contact:
Oracle Power PLC
Naheed Memon +44 (0) 203 580 4314
Strand Hanson Limited (Nominated
Adviser)
Rory Murphy, Rob Patrick +44 (0) 20 7409 3494
Brandon Hill Capital Limited (Joint
Broker)
Oliver Stansfield +44 (0) 203 463 5000
Shard Capital (Joint Broker)
Damon Heath
Isabella Pierre
+44 (0) 20 7186 9952
St Brides Partners Limited (Financial
PR)
Susie Geliher
Catherine Leftley +44 (0) 20 7236 1177
About Oracle Power PLC:
Oracle Power PLC is an international natural resource and power
project developer listed on London's AIM market. The Company is
focussed on delivering reliable and affordable power in emerging
developing markets, unlocking the value of underutilised and
undeveloped natural resources to provide energy security and
support economic growth and development. Its initial project is the
Thar Block VI Project in the Thar desert in the south-east of the
Sindh province of Pakistan. The Thar Project is a 66.1 sq km
licence containing 1.4 billion tonnes of coal, where the Company,
together with its partners China National Coal Development Company
Ltd. (CNCDC) and the private office of His Highness Sheikh Ahmed
Bin Dalmook Juma Al Maktoum, is advancing a combined lignite coal
mine, a 1,320MW mine mouth power plant and a proposed coal
gasification to urea project.
The Company also holds two highly prospective gold assets in two
globally significant gold regions of Western Australia. The
Northern Zone Project is located 25km east of the major gold mining
centre of Kalgoorlie, the home of the 'Super Pit' mine, the second
largest gold mine in Australia, and the Jundee East Gold Project is
located 9km east of Northern Star's Jundee Gold Mine, one of
Australia's largest gold mines.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014, which forms part of United
Kingdom domestic law by virtue of the European (Withdrawal) Act
2018.
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END
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