Clean Invest Africa Plc Placing to raise £210,000, CLN Conversion and Total Voting Rights

 
TIDMCIA 
 
30 November 2023 
 
Clean Invest Africa Plc 
 
 ("CIA", the "Company" or the "Group") 
 
Placing to raise £210,000, CLN Conversion and Total Voting Rights 
 
Clean Invest Africa Plc, the mineral fines waste processing company quoted on 
the Aquis Growth Market, is pleased to announce the successful completion of a 
placing (the "Placing"), to raise £210,000 to support the continuing growth of 
its wholly owned subsidiaries, CoalTech Limited ("CoalTech") and Coal 
Agglomeration South Africa (Pty) Ltd ("CASA"), and to provide working capital to 
the Group. 
 
Placing 
 
A total of 60,000,000 ordinary shares of 0.25p nominal value each ("Placing 
Shares") have been placed with one investor at 0.35p per share. For each one 
Placing Share issued, one warrant will be granted, exercisable at 0.7p, valid 
for a period of three years from the date of admission of the Placing Shares to 
the Aquis Growth Market. Application has been made for the Placing Shares to be 
admitted to trading on the Aquis Growth Market and this is expected to occur on 
or around 5 December 2023. 
 
Following the Placing, Clear Water Holding WLL will own 60,000,000 ordinary 
shares, representing approximately 3.10% of the issued share capital of the 
Company. Clear Water Holding WLL is 90% owned by the adult children (Shaikh 
Abdulla Alkhalifa, Shaikh Fai Alkhalifa and Shaikha Reem Alkhalifa) of the 
Company's Non-Executive Chairman, Shaikh Mohamed Abdulla Khalifa Alkhalifa. 
 
CLN Conversion 
 
Filippo Fantechi, Chief Executive Officer of the Company has converted £20,000 
of principal plus £1,593.42 of interest of an outstanding convertible loan note 
("CLN"), plus director's fees, into 24,237,368 ordinary shares of the Company. 
Following the CLN conversion and issue of the director's fees, Filippo is 
interested in 542,035,789 Ordinary Shares in the Company, representing 
approximately 28.01% of the issued share capital. 
 
The Company has also issued 19,298,400 ordinary shares to a consultant of the 
Company to settle outstanding professional fees. 
 
Total Voting Rights 
 
Following the issue of the Placing Shares, the issued share capital of the 
Company will consist of 1,935,399,170 ordinary shares. No shares were held in 
treasury at the date of this announcement. The total current voting rights in 
the Company are therefore 1,935,399,170. The above figure of 1,935,399,170 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. 
 
About CoalTech technology ("CoalTech") 
 
In the context of the global policy of environmental improvement, reconditioning 
of polluted areas and development of sustainable solutions for those industries 
(such as, but not limited to, coal) which have an impact in terms of 
environmental pollution, but which, at least for the next two to three decades, 
will have to continue to produce in order to sustain the demand for 
energy, CoalTech believes that the application of its technology, in addition to 
meeting the Global Environmental Improvement Policy, also effectively addresses 
the following problems: 
 
(i)         how to clean up/dispose of the more than 30 billion tonnes of coal 
dust now found worldwide as an unavoidable residue of coal mining processes, and 
 
(ii)         how to minimize the accumulation of further coal dust in those 
areas where coal mining ponds are still active and/or at the loading/unloading 
hubs of the coal trade routes such as ports and/or stations and/or in those 
industries that still use coal. 
 
In other words, even if the ecological transition is making great strides, coal 
dusts will continue to damage the environment if they are not removed or 
minimised in cases where industries use coal (e.g. power plants, steel mills, 
etc.) and these last will takes years to complete the ecological transition with 
less polluting technologies, if available. 
 
CoalTech uses the agglomeration process (pelletizing) to transform coal dust 
into spherical agglomerates (pellets) through the rotational and inclination 
forces generated in a Pelletizer and the amalgamation action of an organic, non 
-polluting agent developed in-house. The transformation process is then 
finalised by drying treatments to make the pellets transportable and reusable in 
various industrial applications. 
 
CoalTech technology is the right balance for merging energy demand with 
governments' commitment to a clean world. In particular, it is a valuable 
vehicle for achieving goals #8, #9 and #15 of the UN 2030 Agenda combining the 
useful with the enjoyable. Useful because it is certainly effective in carrying 
out the initial reclamation of the land and/or the hubs of the trade routes 
and/or the coal storage areas of the power stations where tonnes of unused and 
environmentally harmful coal dust are still being deposited. Enjoyable because 
it is a business with a potential of millions of dollars as the process used 
does not alter the original characteristics of the coal (e.g. the calorific 
value and the chemical composition) and therefore the pellets produced, becoming 
transportable, can be sold on the market and have multiple uses, such as for 
example: 
 
-           be introduced into the coal market by blending with the original raw 
material, thus solving at the root the problem of coal dust accumulation and, in 
time, reducing the existing accumulation at the washing and/or storage plants 
 
-           be introduced into the circuit of those industries that use coal to 
produce other products such as: the steel industry to produce coke and the 
chemical industry for the production of ammonia, hydrogen, synthetic products 
such as solvents, dyes, pesticides, synthetic rubbers, explosives, plastics, 
medicines, and others 
 
-           originate a circular economy system as from the distillation of 
coal, it is also possible to obtain tar, benzol, phosphates, nitrates, sulfates, 
naphthalene, celluloid 
 
-           to become a raw material in the coal gasification process for the 
production of syngas; and 
 
-           to support, during the transition period, the less affluent 
populations that still live-in rural areas where the energy distribution network 
is not yet in place and will require years of work to make it available, so 
becoming a source of energy and house heating through the use of domestic 
stoves, already existing on the market, which, in addition to heating, can also 
produce a few kW useful to turn on a few light bulbs. 
 
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] 
 
Market Abuse Regulation (MAR) Disclosure 
 
This announcement contains inside information for the purposes of Article 7 of 
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as 
defined in the European Union (Withdrawal) Act 2018). 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

November 30, 2023 05:51 ET (10:51 GMT)