Scirocco Energy PLC Investment Facility Part Settlement and TVR (6583X)
05 Mayo 2021 - 7:03AM
UK Regulatory
TIDMSCIR
RNS Number : 6583X
Scirocco Energy PLC
05 May 2021
5 May 2021
Scirocco Energy plc
("Scirocco" or the "Company")
Investment Facility Part Settlement and TVR
Scirocco Energy (AIM: SCIR), the AIM investing Company targeting
attractive production and development opportunities within the
European energy market, announces that the subscriber under the
share subscription deed governing the investment facility
("Investment Facility"), the details of which were announced to the
market on 29 June 2020 (the "Subscriber"), has issued the Company a
settlement notice for US$500,000. This notice, together with the
settlement notice announced on 15 October 2020, means that an
aggregate US$925,000 of the total US$1 million subscribed for to
date by the Subscriber pursuant to the Investment Facility has been
settled.
Accordingly, the Company has issued and allotted 34,838,350
ordinary shares, with a deemed price of GBP0.0104 ("Settlement
Shares") to the Subscriber. The Subscriber's investment was made as
a prepayment for ordinary shares in the Company, the number (and
price) of which were to be determined at the time the Subscriber
elected to receive such shares, according to the average of five
daily volume-weighted average prices during the twenty trading days
prior to the date of such election.
Application will be made for the Settlement Shares to be
admitted to trading on AIM with admission expected to take place on
11 May 2021 ("Admission"). The Settlement Shares will rank pari
passu in all respects with all existing ordinary shares in the
Company.
Following Admission, the Company's enlarged issued share capital
will comprise 758,787,936 ordinary shares with voting rights.
This figure of 758,787,936 ordinary shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the Disclosure Rules and Transparency Rules of
the United Kingdom Financial Conduct Authority.
For further information:
Scirocco Energy plc
Tom Reynolds, CEO +44 (0) 20 7466
Doug Rycroft, COO 5000
Strand Hanson Limited, Nominated Adviser
& Broker +44 (0) 20 7409
James Spinney / Ritchie Balmer / Rory Murphy 3494
WH Ireland Limited, Broker +44 (0) 0207 220
Harry Ansell / Katy Mitchell 1666
Buchanan, Financial PR +44 (0) 20 7466
Ben Romney / Kelsey Traynor / James Husband 5000
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933 (the
"Securities Act"), or with any securities regulatory authority of
any state or other jurisdiction of the United States. The
securities may not be offered or sold in the United States, except
pursuant to an applicable exemption from or in a transaction not
subject to the registration requirements of the Securities Act and
in compliance with any applicable securities laws of any state or
other jurisdiction of the United States. No public offering of the
securities is being made in the United States.
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END
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May 05, 2021 08:03 ET (12:03 GMT)
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