PNPL Pineapple Power Corporation Plc

TIDMPNPL

RNS Number : 1359N

Pineapple Power Corporation PLC

28 January 2021

Press Release

28(th) January 2021

Pineapple Power Corporation PLC

('PNPL' or 'The Company')

Exercise of Warrants

Pineapple Power Corporation PLC, trading on the London Stock Exchange under the symbol PNPL, is pleased to announce that over the past several days it has received notice of the exercise of broker warrants ("Warrants") over ordinary shares of GBP0.01 each in the capital of the Company ("Ordinary Shares"). These exercise notices relate to Warrants granted in connection with the Company's Initial Public Offering, admission to the Official List and to trading on the Main Market.

As a result of the exercise of the Warrants, the Company has issued in aggregate 1,981,333 new Ordinary Shares to the holders of the Warrants. These Ordinary Shares were issued at the exercise price of GBP0.05 per share. The aggregate gross proceeds to the Company from this option exercise is GBP99,566.65.

Application will be made for the new Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange. Admission is expected to occur at 8:00 a.m. on 2nd February 2021. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the total number of Ordinary Shares in issue will be 59,348,544 and the total number of voting rights will therefore be 59,348,544. This figure 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Company Highlights

Pineapple Power Corporation PLC was formed as a special purpose acquisition company with the intention to acquire renewable or clean energy technology companies and to finance, develop and promote those environmentally sound projects internationally.

The Company believes that, due to the highly visible global concerns regarding environmental damage and climate change as a result of fossil-fuelled power generation, there exists considerable commercial opportunities in the renewable and clean energy sector which will play an increasingly significant role in meeting future energy needs while reducing further environmental damage.

Clean energy investment globally has grown in real and relative terms. It is this opportunity which Pineapple Power intends to participate in and augment as a fund-raising vehicle for enterprises seeking access to international capital markets.

For further information please contact:

 
 Pineapple Power Corporation PLC 
 
 Claudio Morandi - Director               +44 203 039 3913 
 
  Clive de Larrabeiti 
  Corporate Finance Advisor 
  clive.d.l@pineapple-powercorp.com       +44 797 317 7973 
                                       ------------------- 
 Joint Corporate Broker 
  Peterhouse Capital 
  Charles Goodfellow 
  cg@peterhousecap.com 
                                          +44 207 220 9791 
  Joint Corporate Broker 
  Axis Capital Markets 
  Richard Hutchison 
  rh@axcap247.com                         +44 203 026 0320 
                                       ------------------- 
 Media Relations 
 David Burton 
  Total Market Solutions 
  davidburton.tms@gmail.com 
 Tancredi Intelligent Communications 
  Salamander Davoudi                      +44 7957 549 906 
  salamander@tancredigroup.com 
 
  Helen Humphrey 
  helen@tancredigroup.com                 +44 7449 226 720 
                                       ------------------- 
 

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January 28, 2021 02:00 ET (07:00 GMT)

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