Issue of Convertible Loan Notes
20/11/2024 07:00
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RNS Number : 8684M MetalNRG PLC 20 November 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.
20 November 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 £475,000 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 cover certain
transaction costs in relation to the Company's proposed acquisition of
Compagnie Minière de l'Oumejrane S.A. ("CMO"), as announced on 17 October
2024, and for general corporate purposes.
For further information, please contact:
MetalNRG PLC:
Christopher Chadwick +44 (0) 207 796 9060
Rolf Gerritsen
Hannam & Partners - Financial Adviser and Joint Broker
Andrew Chubb +44 (0) 207 907 8500
SPARK Advisory Partners Limited - Sponsor
James Keeshan +44 (0) 203 368 3550
Andrew Emmott
Peterhouse Capital Limited - Joint Broker:
Lucy Williams + 44 (0) 207 469 0930
Duncan Vasey
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
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