Columbus Energy Resources PLC Issue of Equity and TVR (9654V)

TIDMCERP

RNS Number : 9654V

Columbus Energy Resources PLC

08 November 2017

For Immediate Release

8 November 2017

COLUMBUS ENERGY RESOURCES PLC

("Columbus", "CERP" or the "Company")

Allotment and Issue of Ordinary Shares following Receipt of Conversion Notice

CERP wishes to announce that the Company has received a conversion notice from Lind Asset Management VII, LLC ("Lind") to the value of U.S.$300,000, in accordance with the Convertible Security Funding Agreement as announced on 7 December 2016. The conversion price is fixed at 4.5 pence per share, as announced on 11 September 2017. Pursuant to this notice, 5,067,242 new ordinary shares ("New Ordinary Shares") fall to be issued.

This conversion does not affect the Company's schedule of monthly repayments of the first security and the next repayment due on 22 November 2017, will be paid in cash as agreed with Lind.

The New Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares. Application has been made for the New Ordinary Shares to be admitted to trading on AIM, ("Admission"), and it is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on 14 November 2017.

Following the issue of the New Ordinary Shares, the Company's enlarged issued share capital will comprise 649,206,426 Ordinary Shares with voting rights. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

 
 Columbus Energy Resources 
  Plc                             [phone] 
 Leo Koot / Gordon Stein 
 
 Beaumont Cornish Limited         [phone] 
 Nomad and Joint Broker 
 Roland Cornish / Rosalind 
  Hill Abrahams 
 
 VSA Capital                      [phone] 
 Joint Broker 
 Andrew Monk / Andrew Raca/ 
  Justin McKeegan 
 
 Camarco                          [phone] 
 Public and Investor Relations 
 Georgia Edmunds / James 
  Crothers / Billy Clegg 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 08, 2017 11:26 ET (16:26 GMT)