Andalas Energy and Power Plc Issue of Warrants

 
TIDMADL 
 
Andalas Energy and Power Plc 
                         ('Andalas', or the 'Company') 
 
                               Issue of warrants 
 
Further to the Company's announcement of 27 November regarding the equity 
investment of GBP500,000 and provision of a convertible loan note facility of up 
to GBP2 million by 1798 Volantis Fund Ltd ("Volantis"), 638,569,604 warrants over 
ordinary shares have been issued to Volantis. 
 
The warrants have been issued with a 5 year term with a strike price of 0.5 
pence per share; the basis of calculation being a 25% premium to the closing 
bid price (previously announced exercise price was 0.54375 being a 25% premium 
to the closing mid-market price). 
 
The Company also confirms that it has received the GBP500,000 subscription 
proceeds and notes today's notification of major holdings announcement by 
Lombard Odier Asset Management (Europe) Limited that they are the beneficial 
owner of the entire subscription amount. 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
(EU) No. 596/2014 ('MAR').  Upon the publication of this announcement via a 
Regulatory Information Service ('RIS'), this inside information is now 
considered to be in the public domain. 
 
For further information, please contact: 
 
David       Andalas Energy and Power Plc         Tel: [phone] 
Whitby 
 
Sarah       Cantor Fitzgerald Europe             Tel: [phone] 
Wharry      (Nominated Adviser and Joint Broker) 
 
 
 
 
END 
 

(END) Dow Jones Newswires

December 06, 2017 04:01 ET (09:01 GMT)