Business
Draw Down of Funds and Issue of Equity
Draw Down of Funds and Issue of Equity.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 8749C Edenville Energy PLC 22 April 2013 \n\n22 April 2013\n \nEdenville Energy \n(\"Edenville\" or the \"Company\")\n \nDraw Down of Funds and Issue of Equity\n \nEdenville Energy plc (AIM:EDL), the coal focused African energy exploration and development company, is pleased to announce that it has raised £106,895 following a subscription for new ordinary shares of 0.02p each in the capital of the Company (\"Ordinary Shares\") by Darwin Strategic Limited (\"Darwin\"), a majority owned subsidiary of Henderson Global Investors' Volantis Capital, under the Equity Finance Facility (\"EFF\") announced on 27 March 2013. Pursuant to the terms of this draw down the Company has agreed to issue 53,000,000 new Ordinary Share (the \"New Shares\") to Darwin at a price of 0.2p per New Share, conditional on admission of the New Shares to trading on AIM. The New Shares rank pari passu with the existing Ordinary Shares.\n \nApplication will be made for the admission of the New Shares to trading on AIM (\"Admission\"). It is expected that Admission will occur and that dealings will commence at 8.00 a.m. on 25 April 2013.\n \nFollowing Admission, the Company's enlarged issued share capital will comprise 4,624,216,406 Ordinary Shares. The Company does not hold any shares in treasury. This figure of 4,624,216,406 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\n \nCommenting, Sally Schofield, Chairman, said \"The first draw down under the Darwin Equity Finance Facility ('EFF') is now complete, raising the Company £106,895 at a subscription price of 0.02 pence for working capital purposes. We are pleased that the issue price of the shares has been completed at a premium to the current market price. . Further use of the EFF is entirely at Edenville's discretion and we retain complete control over timing, amount and, importantly, the 'floor price' of any future drawdown. This allows Edenville to set the lowest price at which it is prepared to issue shares to Darwin. We are pleased that Darwin continues to demonstrate its su...