Clean Invest Africa Plc - Issue of Convertible Loans and Equity PR Newswire

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.

26 July 2019 

Clean Invest Africa plc ("Clean Invest Africa" or the "Company")

Issue of Convertible Loan Notes and Equity

Clean Invest Africa Plc (NEX:CIA), the NEX 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 £130,000 (the “CLNs”). The CLNs have an annual coupon of 8%, expire on 24th July 2020 and are convertible into 4,727,272 ordinary shares of 0.25p each in the Company ("Shares") at a price of 2.75 pence per share being the listing price of the Company on its recent re-admission. The funds raised as a result of the issue of the CLNs will be used to provide additional working capital for the Company.

Two Directors of the Company, Mr Noel Lyons and Mr Paul Ryan have subscribed for the CLNs as follows:


Director                              £

Mr N Lyons (Non-Executive Director)   65,000

Mr Paul Ryan (Non-Executive Director) 65,000

Total                                 130,000



In addition to the working capital requirements, a number of creditors have agreed to settle outstanding invoices totalling £54,000, into a total of 2,088,888 Ordinary Shares comprising 1,200,000 Ordinary Shares at £0.025 per share (being equivalent to £30,000.00 including VAT and 888,888 Ordinary Shares at £0.027 (being equivalent to £24,000.00 including VAT) (the “Conversion Shares”).

Filippo Fantechi, Director of Clean Invest Africa plc and CEO of CoalTech Group, commented "By participating in this modest fund raising at the listing price of 2.75p, the two Directors have shown their continuing 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.”

 Related party transaction and shareholder vote

The participation of the directors of the Company in the CLNs constitutes a related party transaction and those directors considered to be independent in relation to the transaction, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

Details of the Conversion Shares

Application will be made for the Conversion Shares, which will rank pari passu with the existing ordinary shares in the Company, to be admitted to trading on NEX (“Admission”).  It is expected that admission will become effective and dealings will commence at 8:00 a.m. on or around 2 August 2019.

Total Voting Rights

Following the issue of the Conversion Shares, the total issued share capital of the Company will consist of 894,211,730 ordinary shares of 0.25p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 894,211,730.

The above figure of 894,211,730 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The directors of the Company accept responsibility for the contents of this announcement

ENQUIRIES:

ENQUIRIES:

Company

Clean Invest Africa PLC

Noel Lyons/Paul Ryan

Telephone: +44 7912 514 809/ +32 475 754 148

Corporate Adviser

Peterhouse Capital Limited

Guy Miller/Mark Anwyl

Telephone: 020 7220 9795

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM


1. Details of the person discharging managerial responsibilities/person closely
   associated

a) Name:                                    Mr. NOEL LYONS

2. Reason for the notification

a) Position/status:                         Non-Executive Director

b) Initial notification/Amendment:          Initial notification

3. Details of the issuer, emission allowance market participant, auction
   platform, auctioneer or auction monitor

a) Name:                                    Clean Invest Africa plc

b) LEI:                                     21380018O4YRPUEJUS57

4. Details of the transaction(s): section to be repeated for (i) each type of
   instrument; (ii) each type of transaction; (iii) each date; and (iv) each
   place where transactions have been conducted

a) Description of the financial instrument, Ordinary shares of 0.25 pence each
   type of instrument:                      ISIN:GB00BF52QX07
   Identification code:

b) Nature of the transaction:                 a. CLN Subscription
                                              b. Issue of shares in lieu of fees
c) Price(s) and volume(s):                    a. CLN Subscription

                                            Price(s) Volume(s)

                                            2.75 p   2,363,636


d) Aggregated information:                  See 4c) above
   Aggregated volume:
   Price:

e) Date of the transaction:                 26 July 2019

f) Place of the transaction:                Outside a trading venue



   


1. Details of the person discharging managerial responsibilities/person
   closely associated

a) Name:                                    Mr. Paul Ryan

2. Reason for the notification

a) Position/status:                         Non-Executive Director

b) Initial notification/Amendment:          Initial notification

3. Details of the issuer, emission allowance market participant, auction
   platform, auctioneer or auction monitor

a) Name:                                    Clean Invest Africa plc

b) LEI:                                     21380018O4YRPUEJUS57

4. Details of the transaction(s): section to be repeated for (i) each type of
   instrument; (ii) each type of transaction; (iii) each date; and (iv) each
   place where transactions have been conducted

a) Description of the financial instrument, Ordinary shares of 0.25 pence each
   type of instrument:                      ISIN:GB00BF52QX07
   Identification code:

b) Nature of the transaction:                 a. CLN Subscription

c) Price(s) and volume(s):                    a. CLN Subscription

                                            Price(s) Volume(s)

                                            2.75 p   2,363,636


d) Aggregated information:                  See 4c) above
   Aggregated volume:
   Price:

e) Date of the transaction:                 26 July 2019

f) Place of the transaction:                Outside a trading venue