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Ncondezi Energy announces exercise of warrants

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World Coal,

Ncondezi Energy Limited has announced the receipt of an exercise notice in relation to 500 000 warrants issued on 25 May 2018.

In relation to this exercise, the company has resolved to issue and allot 500 000 new ordinary shares of no par value (ordinary shares). An application has been made for these 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 5 April 2019.

Following admission of the ordinary shares, the company's enlarged issued share capital will comprise 286 070 294 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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