Westmount Energy Limited Issue of Equity (8972R)
01 Noviembre 2019 - 1:00AM
UK Regulatory
TIDMWTE
RNS Number : 8972R
Westmount Energy Limited
01 November 2019
1 November 2019
WESTMOUNT ENERGY LIMITED
("Westmount" or the "Company")
1(st) Interest Payment Conversion and Partial Early Repayment of
Convertible Loan Notes via Subscription for New Ordinary Shares at
14.93 pence per share
The Board of Westmount is pleased to announce that the Company
has elected to make the 1(st) Interest Payment of GBP67,446.56, due
on 31(st) October 2019 in relation to the residual GBP660,000
principal of 10% p.a. convertible unsecured loan notes 2021
("Convertible Loan Notes"), through the issue of 451,751 new
ordinary shares of no par value ("New Ordinary Shares") by way of a
subscription (the "Subscription").
In addition, the Board is pleased to announce the proposed early
repayment of GBP260,000 principal of the GBP660,000 residual
principal of Convertible Loan Notes through the issue of a further
1,741,459 New Ordinary Shares pursuant to the Subscription.
Details of the Subscription
The total of 2,193,210 New Ordinary Shares to be issued pursuant
to the Subscription ("Subscription Shares") will represent 1.997%
of the enlarged issued ordinary share capital of the Company. The
subscription price is 14.93 pence per share ("Subscription Price"),
representing a 10% discount to the volume weighted average price
("VWAP") for the period of five trading days immediately prior to
the 1(st) Interest Payment Date, as prescribed by the Loan Note
Instrument.
Following the Subscription, Mr Walsh will hold 11,933,565
Ordinary Shares, representing approximately 10.86% of the Company's
issued ordinary share capital. In aggregate GBP400,000 of
Convertible Loan Notes will remain in issue to Mr. Gerard Walsh
after this transaction. Mr. Walsh has waived his rights with
respect to early repayment of this amount. The CLN Repayment and
Subscription are expected to complete on or around 6 November
2019.
Total Voting Rights
An application will be made for admission of the total of
2,193,210 New Ordinary Shares to trading on AIM, which is expected
to occur at 8.00 a.m. on or around 6 November 2019. Following
admission, the Company's issued share capital will comprise
109,831,486 ordinary shares, each with voting rights, which may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in the Company under the
FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Westmount Energy Limited www.westmountenergy.com
David King, Director Tel: +44 (0) 1534 823133
Jane Vlahopoulou
Cenkos Securities plc (Nomad and Broker) Tel: +44 (0) 20 7397 8900
Nicholas Wells / Harry Hargreaves (Corporate Finance)
Template for notification and public disclosure of transactions
by persons discharging managerial responsibilities and persons
closely associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gerard Walsh
------------------------------------- --------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------
a) Position/status Chairman
------------------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Westmount Energy Limited
------------------------------------- --------------------------------------
b) LEI 213800GJISWVBB5S3L84
------------------------------------- --------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value
financial instrument,
type of instrument
Identification code ISIN: GB00B0S5KR31
------------------------------------- --------------------------------------
b) Nature of the transaction Subscription
------------------------------------- --------------------------------------
c) Price(s) and volume(s)
----------------- ----------------
Price(s) Volume(s)
----------------- ----------------
GBP0.1493 1,012,027
------------------------------------------------------------ ----------------
d) Aggregated information
- Aggregated volume 1,012,027
- Price GBP151,095.63
------------------------------------- -------------------------------------------
e) Date of the transaction 31 October 2019
------------------------------------- --------------------------------------
f) Place of the transaction Outside of trading venue
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This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
IOELFFILIALLVIA
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November 01, 2019 03:00 ET (07:00 GMT)
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