TIDMALR

RNS Number : 5637Z

Alternative Energy Limited

12 December 2014

For immediate release 12 December 2014

ALTERNATIVE ENERGY LIMITED

("AEL" or the "Company")

Draw-down of Convertible Note Programme

Further to the announcement released on 15 May 2014 in relation to the re-execution of the subscription agreement pertaining to the Convertible Note Programme ("Programme"), the Board of AEL (AIM: ARL.L) announces that on 13 June 2014 Advance Opportunities Fund (the "Subscriber") elected to convert an aggregate principal amount of GBP50,000 into ordinary shares of the Company ("Ordinary Shares"), following the draw-down of such amount by the Company for general working capital purposes. Under the terms of the Programme the sum of GBP50,000 converts into 10,264,832 Ordinary Shares at a floating conversion price of GBP0.004871.

In respect of the above the Company has now applied for the 10,264,832 new Ordinary Shares, which will rank, pari passu, with all existing ordinary shares in the Company, to be admitted to trading on AIM, with dealings expected to commence on or around 19 December 2014.

TVR

Following the issue of the new Ordinary Shares as described above, the Company's issued share capital will consist of 2,337,166,128 Ordinary Shares with voting rights. The Company also holds 1,922,966 Ordinary Shares in treasury and these shares have no voting rights. Therefore the total number of Ordinary Shares in the Company with voting rights is 2,337,166,128 and this figure may be used by shareholders at the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

Further announcements of draw-down in accordance with this Programme will be made as and when required.

For further information please see the Company's website: www.alternativenergy.com.sg or please contact:

 
ALTERNATIVE ENERGY LIMITED 
 Richard Lascelles, Independent Non-executive Director  Tel: +44 (0) 20 7408 1067 
  Eric Goh, Executive Director                           Tel: +65 68737782 
 
BEAUMONT CORNISH LIMITED (Nomad) 
 Roland Cornish and Emily Staples                       Tel: +44 (0) 20 7628 3396

This information is provided by RNS

The company news service from the London Stock Exchange

END

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