10th Jul 2008 09:00
Environmental Recycling Technologies plc (the "Company")
Share Issue Update
Further to the announcement released on 11 June 2008, the Company advises that, owing to an administrative error, it has failed to announce and seek listing for a further 11,800,134 shares which have been issued to Cornell Capital Partners Offshore LP ("Cornell") and to Montgomery Equity Partners LP ("Montgomery") in reduction of its outstanding debt due to Cornell and Montgomery. The numbers of shares, dates issued and issue prices of the 11,800,134 shares referred to above are as follows:-
|
Date |
Shares Issued |
Issue Price (p) |
Value |
|
01/08/2007 |
1,193,742 |
4.19 |
£50,000 |
|
06/08/2007 |
2,373,648 |
4.21 |
£100,000 |
|
13/08/2007 |
1,193,742 |
4.19 |
£50,000 |
|
17/08/2007 |
2,072,617 |
4.82 |
£100,000 |
|
21/08/2007 |
4,966,385 |
3.83 |
£190,000 |
As previously stated the outstanding amount owed to YA Global Investments Limited, including estimated accrued interest, is £1,850,000 but this will continue to be reduced as YA Global Investments Limited requests that further shares be issued to it.
Application has been made for the 11,800,134 shares issued to YA Global Investments Limited to be admitted to trading.
The total number of shares currently in issue is 271,297,319
9 July 2008
For further information please contact:
Environmental Recycling Technologies plc
Chairman, Ken Brooks 01993 702 491
Evolution Securities 0207 071 4300
Tim Worlledge/Sam Plumptre
Related Shares:
ENRT.L