11th
Issue of New Ordinary Shares and Trading Update
The Company announces that it has issued a total of 873,250,000 new ordinary shares of 0.01p as set out below:
Exercise of 0.01p warrants
The Company received warrant exercise notices and certificates on 6th
As a result of the exercise of these warrants, EME has issued and allotted a total of 213,250,000 new ordinary shares at a price of
Convertible loan notes
Pursuant to the convertible loan notes which were issued in various amounts since 2015, in compliance with the conversion terms that all must be converted into new ordinary shares of 0.01p by the end of 2017, EME has issued and allotted a total 610,000,000 new ordinary shares.
Three new investors remitted a total
Additional fund raise
The Company has raised an additional
The new shares will rank pari passu with the Company's existing ordinary shares.
The 873,250,000 new ordinary shares will be admitted to trading on NEX Exchange Growth Market on
As a result, the changes to the Company's shares, warrants and convertible loan notes in issue are tabulated below:
|
|
Warrants to subscribe for ordinary shares at 0.01p by |
Previously in issue |
6,058,941,670 |
1,080,000,000 |
Currently in issue |
6,932,191,670 |
966,750,000 |
Changes to the Directors' stock interests are set out below:
|
Ord shares of 0.01p |
% of issued share capital |
Warrants to subscribe for ordinary shares at 0.01p by |
|
|
393,500,000 |
5.7 |
190,000,000 |
891,990,000 |
|
30,750,000 |
0.4 |
30,000,000 |
200,000,000 |
Shareholders with 3% or more of the issued share capital
Registered Shareholder |
Shareholding |
% of enlarged share capital |
|
1,332,400,000 |
19.2 |
|
1,178,811,667 |
17.0 |
|
890,533,335 |
12.9 |
|
800,000,000 |
11.5 |
|
800,000,000 |
11.5 |
|
218,500,000 |
3.1 |
|
250,000,000 |
3.6 |
Trading Update
The Company provided its last trading update on the 19th September as part of the interim results.
Since that time progress has continued and EME reports that the
Once EME considers that it is successfully mining and delivering, it hopes to widen the list of potential buyers to capitalise upon the mine's expected capacity of up to 20,000 tonnes per month, subject to further investment.
A further update will be provided at the time of the Company's publication of final results expected in
Enquiries:
|
|
NEX Exchange Adviser and Broker |
+44 (0) 207 448 9820
|
The Directors take responsibility for this announcement.
This information is provided by RNS