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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Evolve Capital | LSE:EVOL | London | Ordinary Share | GB00B29WXB29 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.375 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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15 February 2012
Evergreen Oil Plc ("Evergreen" or the "Company")
GBP225,000 Funding Facility
and
Change of Registered Office
Further to the announcement on 23 December 2011 concerning the funding
facility, Evergreen Oil Plc, the producer of biodiesel from waste cooking oil,
announces that the Company has received GBP225,000 in the form of convertible
loans.
Funding Facilities
The Company has received GBP200,000 through a convertible loan facility provided
by a member of CEO Roberto Avondo's family. Under the facility, the funds will
be used solely for the purchase of feedstock and related expenses. The loan is
repayable on or before 31 December 2012 and carries an interest rate of 15% per
annum. The loan is convertible at the lender's option into ordinary shares of
1p each in the Company ("Ordinary Shares") at a conversion price of GBP0.0788.
The Company has received a further GBP25,000 through a convertible loan facility
provided by the Company's Chairman, David Cowham. The loan is repayable on or
before 31 December 2012 and carries an interest rate of 15% per annum. This
loan is also convertible into Ordinary Shares at a price of GBP0.0788.
Both loans are secured by a fixed and floating charge on the property and
assets of Evergreen Oil (High Laver) Limited, the Company's wholly-owned
subsidiary.
As the convertible loans constitute a related party transaction, the Board
(excluding Roberto Avondo and David Cowham), having consulted with the
Company's financial adviser, consider the terms of the loan are fair and
reasonable insofar as shareholders are concerned.
Change of Registered Office
The Company's registered office address has been changed to 16 Union Road,
Cambridge CB2 1HE.
For further information please contact:-
Evergreen Oil plc
Roberto Avondo, CEO Tel: +44 (0) 7894 567341
Email:roberto.avondo@evergreenoil.co.uk
Web: www.evergreenoil.co.uk
Alexander David Securities Ltd
Fiona Kinghorn Tel: (0) 207 448 9829
Email: fiona.kinghorn@ad-securities.com
Tel: (0) 207 448 9800
www.ad-securities.com
This announcement has been issued by Evergreen Oil plc, 16 Union Road,
Cambridge CB2 1HE.
The directors of Evergreen Oil plc accept responsibility for this announcement.
END
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