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Ncondezi Energy issues equity

Published by
World Coal,

Ncondezi Energy Ltd, which is developing a thermal coal mine and power plant in northern Mozambique, has announced the receipt of shareholder loan conversion notice in relation to 526 229 shares from a lender at a conversion price of 10.0p per share.

The company has issued and allotted 526 229 new ordinary shares of no par value (‘Ordinary Shares’). An application has been made for the Ordinary Shares, which will rank pari passu with the company's existing ordinary shares, to be admitted to trading on AIM with admission expected to take place at 8.00 am on 18 January 2019.

Following admission of the Ordinary Shares, the company's enlarged issued share capital will comprise 282 826 073 ordinary shares with voting rights. This figure 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 and Transparency Rules.

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