Business
Placing and Subscription, Conversion of Debt
Placing and Subscription, Conversion of Debt.
About this update from Clontarf Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8010M Clontarf Energy PLC 21 July 2014 \n \n\n \n \n21 July 2014\n\n\n\nClontarf Energy plc\n(\"Clontarf\" or \"the Company\")\n \nPlacing and Subscription\n \nConversion of Debt\n \nIntended Conversion of Directors' Loans\n \nClontarf Energy Plc is pleased to announce that the Company has conditionally raised £121,500 before expenses through a placing and subscription of 16,200,000 new ordinary shares (\"the Placing Shares\") at a price of 0.75p per Placing Share.\n \nIn addition, in order to strengthen the Company's balance sheet, the Board has agreed to issue 9,111,067 new ordinary shares to a creditor (\"Creditor Shares\") at a price of 0.75p per Creditor Share and intends to issue a further 70,302,632 new ordinary shares in repayment of directors' loans and accrued remuneration totalling £409,382 and £117,888 respectively (\"the Directors' Loan Shares\") at a price of 0.75p per Directors' Loan Share.\n \nIt is intended that the Directors' Loan Shares will be issued as shown in the table below. \n \n\n\n\n\nDirector\n\n\nExisting shareholding\n\n\nDirectors' Loan Shares\n\n\nEnlarged shareholding\n\n\n% of enlarged share capital\n\n\n\n\n...