Conversion of loan and issue of equity

About this update from Alien Metals Ltd

[{"type":"text","content":"\n \n                                                                                                                          Alien Metals                                                                                       Trading Symbols\n\nAIM: UFO\n\nFWB: I3A1\n\n10 April 2019\n\nAlien Metals Ltd(“Alien” or “the Company”)\n\nConversion of loan and issue of equity\n\nAlien Metals Ltd, the AIM quoted exploration and development company, reports today that pursuant to the convertible loan agreement entered into on 26 February 2019 (“CLA”), the Company has today issued 202,247,000 units to Gravner Ltd at a price of 0.1 pence each, in full settlement of the subsisting convertible loan (announced by the Company on 27 February 2019), of £202,247 (being a principal amount of £200,000 and interest thereon).\n\nEach unit comprises one new Common share of no par value (“Common Shares”), and one share purchase warrant exercisable at a price of 0.15 pence until 31 January 2022.\n\nThis conversion extinguishes all amounts outstanding under the CLA. £300,000 remains available, to be drawn down exclusively at the Company’s discretion, under the terms of the CLA.\n\nApplication will be made to the London Stock Exchange plc for 202,247,000 new Common Shares to be admitted to trading on AIM with admission expected to occur on or around 15 April 2019.\n\nThe new Common Shares rank pari passu in all respects with the existing Common Shares including the right to receive any dividend or other distribution thereafter declared, made or paid.  There are no Ordinary Shares held in treasury. Therefore, the total number of voting rights in the Company, following the issue of 202,247,000 new Common Shares will be 918,389,941.\n\nFollowing this issuance of shares, Gravner Ltd is interested in 22.02% of the ...

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