29th May 2009 18:10
Environmental Recycling Technologies plc (the "Company")
Additional Listing
The Company announces that in accordance with the Convertible Loan Agreement entered into with YA Global Investments LP (“Yorkville”), the Company will issue 7,999,602 ordinary shares of 2.5 pence each in the Company ("Ordinary Shares") in order to satisfy a conversion of part of the loan by Yorkville. The shares will be issued at par value, reducing the amount of the loan payable, by £199,990.
In addition, the Company will issue a further 7,811,012 Ordinary Shares at par value to satisfy amounts owed to creditors.
The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Company. Application has been made for the 15,810,614 Ordinary Shares to be admitted to trading on the London Stock Exchange's AIM market for listed securities ("Admission"). It is expected that Admission will become effective on 4 June 2009.
Following Admission the issued share capital of the Company will be and voting rights are 302,227,933 Ordinary Shares.
Related Shares:
ENRT.L