REG - Velocys PLC - Conversion of Convertible Loan Notes

VelocysAnnouncement

05/11/2018 07:00

RNS Number : 2650G
Velocys PLC
05 November 2018
 


News release
Velocys plc
("Velocys" or "the Company")
5 November 2018
 
Conversion of convertible loan notes
Velocys plc (VLS.L), the renewable fuels company, today announces that it has served conversion notices to the holders of the £9 million nominal convertible loan notes that it issued on 1 June 2017 (the "CLNs").
 
The CLNs (plus interest accrued thereon) will convert into an aggregate of 20,100,000 new ordinary shares at a conversion price of £0.50 per share in accordance with the terms of the CLNs.  Application will be made for 20,100,000  new ordinary shares to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 16 November 2018 ("Admission").
 
 
Total Voting Rights
With effect from Admission, the Company's issued share capital will comprise of 410,422,765 ordinary shares, with one voting right per share. Upon Admission, the figure of 410,422,765  may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
 
 
- Ends -
 
 For further information, please contact:



Velocys
David Pummell, CEO
 


+44 1235 838 621
 




Numis Securities (Nomad and joint broker)
Alex Ham
Stuart Skinner
Jamie Lillywhite
Tom Ballard
 
 


+44 20 7260 1000




Canaccord Genuity (Joint broker)
Henry Fitzgerald-O'Connor
Ben Griffiths
 
 


+44 20 7523 8000
 














Camarco (Financial communications & PR)
Billy Clegg
Georgia Edmonds
Tom Huddart
 


+44 20 3757 4983
 













 
www.velocys.com 




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