Clean Invest Africa Plc Placing of £155,000 and TVR

 
TIDMCIA 
 
8 December 2022 
 
                            Clean Invest Africa Plc 
 
                     ("CIA", the "Company" or the "Group") 
 
               Placing to raise £155,000 and Total Voting Rights 
 
Clean Invest Africa Plc, the AQUIS quoted investment company is pleased to 
announce the successful completion of a placing (the "Placing"), to raise £ 
155,000 to support the continuing growth of its wholly- owned subsidiaries, 
CoalTech Limited ("CoalTech") and Coal Agglomeration South Africa (Pty) Ltd 
("CASA"), and to provide limited working capital to the Group. 
 
Coaltech is continuing the development of its marketing and commercialisation 
strategy with a number of commercial models being considered and a further 
announcement on this is expected, subject to progress, to follow in the coming 
weeks. As part of the ongoing development the Group is evaluating overall 
cashflow and financing. 
 
Placing 
 
A total of 31,000,000 ordinary shares of 0.25p nominal value each ("Placing 
Shares") have been placed with investors at 0.5p per share. For every two 
Placing Share issued, one warrant will be granted, exercisable at 1.5p, valid 
for a period of three years from the date of admission of the Placing Shares to 
the AQSE Growth Market. Further, should the placees validly exercise the 1.5p 
warrants in full, these will be replaced by a further one warrant, exercisable 
at 3p, for every two Placing Shares, valid for three years from grant. 
 Application has been made for the Placing Shares to trading on the AQSE Growth 
Market and this is expected to occur on or around 14 December 2022. 
 
Total Voting Rights 
 
Following the issue of the Placing Shares, the issued share capital of the 
Company will consist of 1,813,863,402 ordinary shares. No shares were held in 
treasury at the date of this announcement. The total current voting rights in 
the Company are therefore 1,813,863,402. The above figure of 1,863,863,402 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 
FCA's Disclosure and Transparency Rules. 
 
The directors of the Company accept responsibility for the contents of this 
announcement. 
 
ENQUIRIES : 
 
Clean Invest Africa plc 
 
Filippo Fantechi - Chief Executive Officer:  [phone] 
 
Peterhouse Capital Limited 
 
Guy Miller [phone] 
 
 
 
END 
 
 

(END) Dow Jones Newswires

December 08, 2022 02:00 ET (07:00 GMT)