REG - Cloudbreak Discovery - Issue of Equity

Cloudbreak DiscoveryAnnouncement

22/05/2024 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240522:nRSV4453Pa&default-theme=true

RNS Number : 4453P  Cloudbreak Discovery PLC  22 May 2024

22 May 2024

 

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

 

Cloudbreak Completes Issuance of Equity for Debt

Cloudbreak Discovery Plc, (LSE: CDL), the natural resource project generator,
is pleased to announce that it has completed the issuance of equity in
exchange for debt.

As announced on 11 July 2023, the Company issued Convertible Loan Notes,
("CLN's"), totalling £340,000. These CLN's now total £375,456.57 including
accrued interest. The two of the four CLN holders are converting to equity at
£0.005 per share, representing 66,608,220 Ordinary Shares of £0.001 in the
Company ("Ordinary Shares").

The Company has also been supported by the Board and Management and at this
time Andrew Male and Paul Gurney will also be converting part of their
outstanding fees aggregating to £58,895 into equity at £0.005 per share,
representing 11,779,111 Ordinary Shares.

Following the conversion, the direct and indirect holdings of Andrew Male and
Paul Gurney will be as follows:

 Director     New shares via conversion  Total shareholding post conversion  % of enlarged issued share capital
 Andrew Male  10,144,850                 12,145,742                          1.66%
 Paul Gurney  1,634,261                  1,634,261                           0.0022%

Crescita Capital LLP, who the Company owes £177,802.80 in shares under the
terms of the equity drawdown agreement entered into on 16 February 2021 will
be issued 35,560,560 Ordinary Shares at £0.005 per share.

Two Creditors of the Company have also converted their debt totalling £37,920
into equity at £0.005 per share, representing 7,584,000 Ordinary Shares.

Total shares being issued are therefore 121,531,891

 Ordinary Shares at £0.005 per share. This represents a total of
£599,809.96 of debt that has been converted and all at a premium to the
current share price.

Application is being made for the new Ordinary Shares to be admitted to
trading on the Main Market of the London Stock Exchange which is expected to
be on or around 24 May 2024. These shares rank pari passu with the existing
ordinary shares of the Company. Following the issue of these shares, the
Company's issued ordinary share capital shall consist of 729,210,696 ordinary
shares. The figure of 729,210,696 represents the total voting rights in the
Company and should be used by shareholders as the denominator for the
calculation by which they can determine if they are required to notify their
interest in, or a change to their interest in, the Company under the Financial
Conduct Authority's ("FCA") Disclosure Guidance & Transparency Rules.

- Ends -

 

For additional information please contact:

 

 Cloudbreak Discovery PLC  Tel: +44 792 6 397675
                           Andrew Male, Interim CEO         am@cloudbreakdiscovery.com

 Novum Securities          Tel: +44 7399 9400
 (Financial Adviser)       David Coffman / George Duxberry

 Oberon Capital            Tel: +44 20 3179 5355 /

                           +44 20 3179 5315
 (Broker)                  Nick Lovering / Adam Pollock

 

 

About Cloudbreak Discovery PLC

Cloudbreak Discovery PLC is a leading natural resource project generator and
royalty business. Cloudbreak is focused on energy royalty acquisitions with
the aim of bringing near-term cashflow and driving shareholder value. Its
primary operating jurisdiction is the United States, but the Company also
deploys its project generation model in the international energy sector to
acquire minority interests in projects of merit.

 

Through its wholly owned but independently operated subsidiary, Cloudbreak
Exploration Inc., the Company will develop its array of mineral assets, whilst
continuing to generate new projects with a particular focus on commodities key
to the energy transition.

 

Cloudbreak's generative model across the energy and mineral sector enables a
multi-asset approach to investing and exploration. Diversification within the
natural resource sector and amongst resource classes is key to withstanding
the cycles of investing.

 

 1.                Details of the person discharging managerial responsibilities / person closely
                   associated
 a)                Name                                                         Andrew Male
 2.                Reason for the notification
 a)                Position/status                                              Interim CEO and Director
 b)                Initial notification / Amendment                             Initial Notification
 3.                Details of the issuer, emission allowance market participant, auction
                   platform, auctioneer or auction monitor
 a)                Name                                                         Cloudbreak Discovery PLC
 b)                LEI                                                          213800ZLZVEPOS7YID88
 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 financial instrument, type of instrument  Ordinary shares of £0.001
                   Identification code                                          GB00B44LQR57
 b)                Nature of the transaction                                    Conversion of debt
 c)                Price(s) and volume(s)                                       Price: £0.005

                                                                                Volume: 10,144,850

 d)                Aggregate information
                   - Aggregate volume                                           10,144,850
                   - Total Price                                                £50,724.25
 e)                Date of the transaction                                      22 May 2024
 f)                Place of the transaction                                     London Stock Exchange
 g)                Additional information                                       N/A

 

 

 1.                Details of the person discharging managerial responsibilities / person closely
                   associated
 a)                Name                                                         Paul Gurney
 2.                Reason for the notification
 a)                Position/status                                              Non-Executive Director
 b)                Initial notification / Amendment                             Initial Notification
 3.                Details of the issuer, emission allowance market participant, auction
                   platform, auctioneer or auction monitor
 a)                Name                                                         Cloudbreak Discovery PLC
 b)                LEI                                                          213800ZLZVEPOS7YID88
 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 financial instrument, type of instrument  Ordinary shares of £0.001
                   Identification code                                          GB00B44LQR57
 b)                Nature of the transaction                                    Conversion of debt
 c)                Price(s) and volume(s)                                       Price: £0.005

                                                                                Volume: 10,144,850

 d)                Aggregate information
                   - Aggregate volume                                           1,634,261
                   - Total Price                                                £8,171.31
 e)                Date of the transaction                                      22 May 2024
 f)                Place of the transaction                                     London Stock Exchange
 g)                Additional information                                       N/A

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEQLLBLZELZBBF