THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
9 January 2024
MetalNRG plc
(the "Company" or "MetalNRG")
Issue of Convertible Loan Notes
MetalNRG (LON:MNRG), the natural resources and energy investment company, announces that is has raised £223,000 via the issue of convertible loan notes ("CLNs"). The CLNs carry a 15% per annum coupon and are convertible upon the earlier of the Company completing a transaction classified as a reverse takeover under Listing Rule 5.6.4 or two years from the date of issue. The CLNs are also subject to customary events of default.
The funds raised through the issue of the CLNs, together with an additional unsecured short-term loan of £150,000 that has been provided to the Company, will be used to undertake specific due diligence work on projects that have been identified as potential reverse takeover targets for the Company and for general corporate purposes.
For further information, please contact:
| MetalNRG PLC: | ||
| Rolf Gerritsen | +44 (0) 207 796 9060 | |
| Chris Chadwick | +44 (0) 207 796 9060 | |
| Peterhouse Capital Limited - Joint Broker: | ||
| Lucy Williams | + 44 (0) 207 469 0930 | |
| Duncan Vasey | + 44 (0) 207 469 0930 | |
| S I Capital Limited - Joint Broker: | ||
| Nick Emerson | +44 (0) 1483 413500 | |
| IFC Advisory Limited - Financial PR and IR | | |
| Tim Metcalfe | +44 (0) 203 934 6630 | |
| Florence Chandler | +44 (0) 203 934 6630 | |
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