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Partial Conversion of Convertible Note

28th Mar 2022 08:01

RNS Number : 2043G
Empyrean Energy PLC
28 March 2022
 

Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas

 

Empyrean Energy plc

 

Partial Conversion of Convertible Note

 

28 March 2022

 

Empyrean Energy ("Empyrean" or the "Company"), the oil and gas development company with interests in China, Indonesia and the United States, advises that it has received a conversion notice to issue 18,750,000 Ordinary Shares ("Shares") at a conversion price of 8p per Share under the existing Convertible Loan Note Agreement as announced on 16 December 2021 ('Partial Conversion"). The Partial Conversion reduces the amount owing on the Convertible Note by £1,500,000.

 

Application will be made for the admission of the Shares to trading on AIM ("Admission"). Admission is expected to take place on 1 April 2022. The Shares will rank pari passu with the existing ordinary shares on issue.

 

Following Admission, the Company's enlarged issued share capital will comprise 664,820,780 ordinary shares of 0.2p each (the "Shares"), each with voting rights. This figure 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, securities of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

-ENDS-

 

 

For further information please contact the following:

 

Empyrean Energy plc

Tom Kelly

Tel: +61 6146 5325

Cenkos Securities plc (Nominated Advisor and Broker)

Neil McDonald

Tel: +44 (0) 131 220 9771

Pete Lynch

Tel: +44 (0) 131 220 9772

 

First Equity Limited (Joint Broker)

Jason Robertson

Tel: +44 (0) 20 7330 1883

 

 

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