REG - MetalNRG PLC - Issue of Convertible Loan Notes

MetalnrgAnnouncement

06/08/2024 10:30

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RNS Number : 3677Z  MetalNRG PLC  06 August 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

6 August 2024

MetalNRG plc

(the "Company" or "MetalNRG")

Issue of Convertible Loan Notes

 

MetalNRG (LON:MNRG), the natural resources and energy company, announces that
is has raised £244,000 via the issue of convertible loan notes ("CLNs").
The CLNs carry a 15% per annum coupon and are convertible into new ordinary
shares in the Company, at a 20% discount to the prevailing share price, upon
the earlier of the Company completing a transaction classified as a reverse
takeover under Listing Rule 5.6.4 or two years from the date of issue.  The
CLNs are also subject to customary events of default.

 

The funds raised through the issue of the CLNs will be used to undertake
specific operational and legal due diligence work on projects that have been
identified as potential reverse takeover targets for the Company and for
general corporate purposes.

 

The person responsible for the release of this information on behalf of the
Company is Rolf Gerritsen, Executive Director.

 

For further information, please contact:

 MetalNRG PLC:
 Rolf Gerritsen                                                     +44 (0) 207 796 9060
 Chris Chadwick                                                     +44 (0) 207 796 9060
 Hannam & Partners - Financial Adviser
 Andrew Chubb                                                       +44 (0) 207 907 8500
 Peterhouse Capital Limited - Joint Broker:
 Lucy Williams                               + 44 (0) 207 469 0930
 Duncan Vasey                                + 44 (0) 207 469 0930
 S I Capital Limited - Joint Broker:
 Nick Emerson                                +44 (0) 1483 413500
 IFC Advisory Limited - Financial PR and IR
 Tim Metcalfe                                +44 (0) 203 934 6630
 Florence Chandler                           +44 (0) 203 934 6630

 

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