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Share Name Share Symbol Market Type Share ISIN Share Description
Altona Resources LSE:ANR London Ordinary Share GB00BFZNKV91 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 17.50p 15.00p 20.00p 17.50p 17.50p 17.50p 20,088 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.6 -63.1 - 0.27

Altona Energy PLC Conditional Subscriptions for Convertible Notes

11/01/2019 7:00am

UK Regulatory (RNS & others)

Altona Energy (LSE:ANR)
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RNS Number : 8151M

Altona Energy PLC

11 January 2019

Altona Energy plc

("Altona" or the "Company")

Conditional Subscription Commitments for Convertible Loan Notes

Altona (AIM: ANR) announces that it is to raise up to GBP500,000 by conditional subscription commitments for convertible unsecured loan notes (the "Notes"). This funding is conditional on the appointment by the Company of a replacement Nominated Adviser ("Nomad") as the Company's current Nomad will be removed from the register of nominated advisers with effect from 7.00 a.m. on 1 February.

The subscription commitments permit the Company to call for the subscription and payment of tranches of the Notes. The maximum amount of Notes which each subscriber can be called on to subscribe for, on any one occasion is GBP25,000. The maximum amount of Notes to be issued by the Company will be limited to GBP1 million.

The proceeds of the issue of the Notes are to be applied for general working capital purposes and to develop further the Company's coal and pyrolysis opportunities. The Notes, which are subject to the conditional subscription agreement above, are to be issued in equal tranches to two private investors.

Key Terms of the Notes

1. Interest will be payable at the rate of 7 per cent per annum on the amount outstanding under the Notes.

2. Interest will accrue from the date of issue of the Notes and interest payments will be made semi-annually in arrears except that the first such interest payment will be made on 31 December 2019.

3. Notes are convertible at any time in multiples of GBP5,000, at the option of the noteholders, into ordinary shares of 10p each of the Company, at a conversion price of GBP1.50 per share.

4. Notes not previously converted or purchased will be redeemed at their nominal value, being GBP1 per Note, with accrued interest on 31 January 2021.

5. The Company may purchase the Notes at any time, but only pursuant to an offer made simultaneously to all noteholders on the same financial terms. All Notes redeemed or purchased by the Company will be cancelled and shall not be reissued.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.



Altona Energy plc                                     +44 7769 906 
 Nicholas Lyth, Chief Executive Officer                        686 
Northland Capital Partners Ltd (Nomad and Broker) 
 Matthew Johnson / Gerry Beaney / Jamie Spotswood 
 (Corporate Finance)                                   +44 20 3861 
 Abigail Wayne (Corporate Broking)                            6625 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit



(END) Dow Jones Newswires

January 11, 2019 02:00 ET (07:00 GMT)

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