Business
Posting of Circular
Posting of Circular.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n \nRNS Number : 2257T RedT Energy PLC 19 March 2019 \n\nTHE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR AUSTRALIA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL\n \n19 March 2019\nredT energy plc (\"redT\" or \"the Company\")\nPosting of Circular\nredT energy plc (the \"Company\") announces that, further to the announcement on 14 March 2019 relating to the proposed Placing of 47,000,000 new Ordinary Shares and Open Offer of a maximum of 113,031,304 new Ordinary Shares at a price of 2 pence per share, the Company has today posted to Qualifying Shareholders the Circular which sets out the terms of the Open Offer and how to apply for Open Offer Shares. The Circular will also be made available on the Company's website at https://redtenergy.com/.\n \nThe ex-entitlement date for the Open Offer is 19 March 2019. \n \nTerms not otherwise defined herein, shall have the meanings given in the section entitled \"Definitions\" at the front of the Circular.\n \nThe Open Offer is being made to Qualifying Shareholders on the register as at the Record Date, being 5.00 p.m. on 15 March 2019, for up to 113,031,304 Open Offer Shares at 2 pence per Open Offer Share (being the same price as the Issue Price for the Placing) on the basis of:\n \n1 Open Offer Share for every 7 Existing Ordinary Shares\n \nFull details of the Open Offer, including terms and conditions and details on how to accept the Open Offer, are set out in the Circular.\n \nThe Open Offer is conditional on, inter alia, \n \n(i) completion of the Placing; \n \n(ii) the proceeds of the Fundraising being at least £1.5 million;\n \n(iii) the passing of the Resolution; and\n \n(iv) Admission occurring by no later than 8:00 a.m. on 10 April 2019 (or such later times and /or dates as may be agreed between the Company and VSA Capital Limited, being no later than 8:00 a.m. on 18 April 2019).\n \nFollowing the issue of the New Ordinary Shares (assu...