Clean Invest Africa Plc - Placing of £155,000 and TVR
Announcement provided byClean Invest Africa Plc · CIA
8 December 2022
Clean Invest Africa Plc
(“CIA”, the “Company” or the “Group”)
Placing to raise £155,000 and Total Voting Rights
Clean Invest Africa Plc, the AQUIS quoted investment company is pleased to announce the successful completion of a placing (the "Placing"), to raise £155,000 to support the continuing growth of its wholly- owned subsidiaries, CoalTech Limited (“CoalTech”) and Coal Agglomeration South Africa (Pty) Ltd (“CASA”), and to provide limited working capital to the Group.
Coaltech is continuing the development of its marketing and commercialisation strategy with a number of commercial models being considered and a further announcement on this is expected, subject to progress, to follow in the coming weeks. As part of the ongoing development the Group is evaluating overall cashflow and financing.
A total of 31,000,000 ordinary shares of 0.25p nominal value each ("Placing Shares") have been placed with investors at 0.5p per share. For every two Placing Share issued, one warrant will be granted, exercisable at 1.5p, valid for a period of three years from the date of admission of the Placing Shares to the AQSE Growth Market. Further, should the placees validly exercise the 1.5p warrants in full, these will be replaced by a further one warrant, exercisable at 3p, for every two Placing Shares, valid for three years from grant. Application has been made for the Placing Shares to trading on the AQSE Growth Market and this is expected to occur on or around 14 December 2022.
Total Voting Rights
Following the issue of the Placing Shares, the issued share capital of the Company will consist of 1,813,863,402 ordinary shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 1,813,863,402. The above figure of 1,863,863,402 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.
Clean Invest Africa plc
Filippo Fantechi – Chief Executive Officer: +973 3 9696273
Peterhouse Capital Limited
Guy Miller +44 20 7469 0930
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