Clean Invest Africa Plc - Issue of Convertible Loan Notes
PR Newswire
London, October 27
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
28 October 2020
Clean Invest Africa plc ("Clean Invest Africa" or the "Company")
Issue of Convertible Loan Notes
Clean Invest Africa Plc (AQSE: CIA), the AQUIS Exchange quoted clean technology and renewable energy investment company, is pleased to announce that it has issued unsecured convertible loan notes for a total of £155,000 (the "CLNs"). The CLNs have an annual cash coupon of 8% payable semi-annually, mature on 31st December 2022 and are convertible then at the option of the holder into 7,750,000 ordinary shares of 0.25p each in the Company ("Shares") at a price of 2.00 pence per share. The funds raised as a result of the issue of the CLNs will be used to provide additional working capital for the Company.
Filippo Fantechi, Chief Executive Officer & Director of Clean Invest Africa plc and CEO of CoalTech Group, commented "By participating in this fund raising the investors have shown their confidence in the Company. The operating business, CoalTech Group, continues to have bright prospects particularly through international expansion and we will update shareholders as events unfold."
The directors of the Company accept responsibility for the contents of this announcement
ENQUIRIES:
Company
Clean Invest Africa PLC
Filippo Fantechi, Director
Telephone: +973 3969 6273
Corporate Adviser
Peterhouse Capital Limited
Guy Miller/Mark Anwyl
Telephone: 020 7220 9795
