Alternative Energy Limited Conversion of Loan and TVR (6316I)

TIDMALR

RNS Number : 6316I

Alternative Energy Limited

27 March 2015

ALTERNATIVE ENERGY LIMITED

(the "Company")

Conversion of Loan Note and Total Voting Rights

Further to the Company's announcements of 15 July 2014 entitled 'Senior Loan Note Instrument' and of the 5 March 2015 entitled 'Conversion of Loan Note and Total Voting Rights', Darwin Strategic Limited ("Darwin"), on 26 March 2015, issued the Company with a conversion notice ("Conversion Notice") in relation to GBP100,000 of the senior loan note amounting to GBP270,000. Following such conversion the senior loan will stand at a total of GBP120,000. As a result of the Conversion Notice and a conversion price of 0.017733 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 563,909,774 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 2 April 2015.

Following the issue of the Conversion Shares as described above, the Company's issued share capital will consist of 3,101,480,664 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 3,101,480,664 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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