Scirocco Energy PLC Investment Facility Part Settlement and TVR (5367K)
06 Mai 2022 - 8:00AM
UK Regulatory
TIDMSCIR
RNS Number : 5367K
Scirocco Energy PLC
06 May 2022
6 May 2022
Scirocco Energy plc
("Scirocco" or the "Company")
Investment Facility Part Settlement and TVR
Scirocco Energy (AIM: SCIR), the AIM investing company targeting
attractive assets within the European sustainable energy and
circular economy markets , announces that the subscriber (the
"Subscriber") under the share subscription deed governing the
investment facility ("Investment Facility"), the details of which
were announced to the market on 29 June 2020, has issued the
Company a settlement notice for US$100,000.
This notice, together with the settlement notices announced on
15 October 2020, 5 May 2021, 24 January 2022, and 18 March 2022
means that an aggregate US$1.425 million of the total US$2.0
million subscribed for to date by the Subscriber pursuant to the
Investment Facility has been settled through the issue of new
ordinary shares in Scirocco.
Accordingly, the Company has issued and allotted 17,459,747
ordinary shares, with a deemed price of GBP0.0046 ("Settlement
Shares") to the Subscriber. The Subscriber's investment was made as
a prepayment for ordinary shares in the Company, the number (and
price) of which were to be determined at the time the Subscriber
elected to receive such shares, according to the average of five
daily volume-weighted average prices during the twenty trading days
prior to the date of such election.
Application will be made for the Settlement Shares to be
admitted to trading on AIM with admission expected to take place on
or around 10 May 2022 ("Admission"). The Settlement Shares will
rank pari passu in all respects with all existing ordinary shares
in the Company.
Following Admission, the Company's enlarged issued share capital
will comprise 825,203,178 ordinary shares with voting rights.
This figure of 825,203,178 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 Disclosure Rules and Transparency Rules of
the United Kingdom Financial Conduct Authority.
For further information:
Scirocco Energy plc
Tom Reynolds, CEO +44 (0) 20 7466
Doug Rycroft, COO 5000
Strand Hanson Limited, Nominated Adviser
& Broker +44 (0) 20 7409
Ritchie Balmer / James Spinney / Rory Murphy 3494
WH Ireland Limited, Broker +44 (0) 0207 220
Harry Ansell / Katy Mitchell 1666
Buchanan, Financial PR +44 (0) 20 7466
Ben Romney / Jon Krinks / James Husband 5000
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933 (the
"Securities Act"), or with any securities regulatory authority of
any state or other jurisdiction of the United States. The
securities may not be offered or sold in the United States, except
pursuant to an applicable exemption from or in a transaction not
subject to the registration requirements of the Securities Act and
in compliance with any applicable securities laws of any state or
other jurisdiction of the United States. No public offering of the
securities is being made in the United States.
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