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Admission of New Ordinary Shares

4th Feb 2011 08:00

RNS Number : 6456A
Environmental Recycling Tech. PLC
04 February 2011
 



Environmental Recycling Technologies plc (the "Company")

 

Admission of New Ordinary Shares

 

On 31 January 2011, the Company announced a subscription of 13,500,000 new ordinary shares of 2.5 pence each in the Company ("Ordinary Shares") by a new investor (the "Subscription Shares") and the full repayment of the Company's convertible loan with YA Global Investments LP to be partly satisfied by the issue of 8,673,628 new Ordinary (the "Repayment Shares"). At the same time the Company announced the issue of 992,063 Ordinary Shares in accordance with a settlement agreement with Mr Sean Daley (the "Settlement Shares"). Together the Subscription Shares, Repayment Shares and Settlement Shares amount to 23,165,691 new Ordinary Shares.

 

The Company is pleased today to confirm the admission to trading on the AIM market of the London Stock Exchange of the Subscription Shares, Repayment Shares and Settlement Shares ("Admission"). Following Admission, the Company has 517,992,754 Ordinary Shares in issue. The new Ordinary Shares represent approximately 4.47 per cent. of the issued share capital of the Company immediately following Admission.

4 February 2011

Enquiries:

Environmental Recycling Technologies plc

Tel: 0845 071 1394

Roger Baynham (Managing Director)

Ken Brooks (Chairman)

Evolution Securities

Tel: 020 7071 4300

Bobbie Hilliam

Patrick Castle

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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