Velocys PLC Conversion of Convertible Loan Notes (2650G)

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RNS Number : 2650G

Velocys PLC

05 November 2018

News release

Velocys plc

("Velocys" or "the Company")

5 November 2018

Conversion of convertible loan notes

Velocys plc (VLS.L), the renewable fuels company, today announces that it has served conversion notices to the holders of the GBP9 million nominal convertible loan notes that it issued on 1 June 2017 (the "CLNs").

The CLNs (plus interest accrued thereon) will convert into an aggregate of 20,100,000 new ordinary shares at a conversion price of GBP0.50 per share in accordance with the terms of the CLNs. Application will be made for 20,100,000 new ordinary shares to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 16 November 2018 ("Admission").

Total Voting Rights

With effect from Admission, the Company's issued share capital will comprise of 410,422,765 ordinary shares, with one voting right per share. Upon Admission, the figure of 410,422,765 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

- Ends -

For further information, please contact:

 
 Velocys                                      [phone] 
  David Pummell, CEO                           621 
 Numis Securities (Nomad and joint broker) 
  Alex Ham 
  Stuart Skinner 
  Jamie Lillywhite                            [phone] 
  Tom Ballard                                  1000 
 Canaccord Genuity (Joint broker) 
  Henry Fitzgerald-O'Connor                   [phone] 
  Ben Griffiths                                8000 
 
 Camarco (Financial communications & PR) 
  Billy Clegg 
  Georgia Edmonds                             [phone] 
  Tom Huddart                                  4983 
 
 

www.velocys.com

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November 05, 2018 02:00 ET (07:00 GMT)