Alternative Energy Limited Conversion of Loan and TVR (6956G)

TIDMALR

RNS Number : 6956G

Alternative Energy Limited

05 March 2015

5 March 2015

ALTERNATIVE ENERGY LIMITED

(the "Company")

Conversion of Loan Note and Total Voting Rights

Further to the Company's announcement of 15 July 2014 entitled 'Senior Loan Note Instrument' Darwin Strategic Limited ("Darwin"), on 24 February 2015, issued the Company with a conversion notice ("Conversion Notice") in relation to GBP50,000 of the senior loan note amounting to GBP270,000. Following such conversion the senior loan will stand at a total of GBP220,000. As a result of the Conversion Notice and a conversion price of 0.0672 pence (being the lesser of (i) GBP0.0125 and (ii) the average price of the Company's ordinary shares ("Ordinary Shares") for three trading days selected by Darwin during the twenty trading days prior to and including the date of conversion, multiplied by 0.80 and subject to any agreed adjustments)) Darwin will be issued with 74,404,762 Ordinary Shares ("Conversion Shares").

Application will be made for the Conversion Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. Dealings in the Conversion Shares on AIM are expected to commence on or around 12 March 2015.

Following the issue of the Conversion Shares as described above, the Company's issued share capital will consist of 2,537,570,890 Ordinary Shares with voting rights. The Company also holds 1,922,966 Ordinary Shares in treasury and these shares have no voting rights. Therefore the total number of Ordinary Shares in the Company with voting rights is 2,537,570,890 and this figure may be used by shareholders at the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

 
 
  ALTERNATIVE ENERGY LIMITED 
Richard Lascelles, Independent Non-executive Director  Tel: +44 (0) 20 7408 1067 
 Eric Goh, Executive Director                           Tel: +65 68737782 
BEAUMONT CORNISH LIMITED (Nomad) 
 Roland Cornish and Emily Staples                      Tel: +44 (0) 20 7628 3396 
BEAUFORT SECURITIES LIMITED (Broker) 
Jon Levinson and Elliot Hance                          Tel: +44 (0)20 7382 8300

This information is provided by RNS

The company news service from the London Stock Exchange

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