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.
6 August 2024
MetalNRG plc
(the "Company" or "MetalNRG")
Issue of Convertible Loan Notes
MetalNRG (LON:MNRG), the natural resources and energy company, announces that is has raised £244,000 via the issue of convertible loan notes ("CLNs"). The CLNs carry a 15% per annum coupon and are convertible into new ordinary shares in the Company, at a 20% discount to the prevailing share price, 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 will be used to undertake specific operational and legal due diligence work on projects that have been identified as potential reverse takeover targets for the Company and for general corporate purposes.
The person responsible for the release of this information on behalf of the Company is Rolf Gerritsen, Executive Director.
For further information, please contact:
| MetalNRG PLC: | ||
| Rolf Gerritsen | +44 (0) 207 796 9060 | |
| Chris Chadwick | +44 (0) 207 796 9060 | |
| Hannam & Partners - Financial Adviser |
| |
| Andrew Chubb | +44 (0) 207 907 8500 | |
| 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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