14 February 2012
METROELECTRIC PLC
("Metroelectric" or the "Company")
Loan Settlement and Issue of Equity
The Company is pleased to announce that it has reached an agreement with Ashwillow Limited to settle it outstanding loan to the Company of £122,500 including all interest payments, through the issue of 122,500,000 shares at a price of 0.1p per share.
Following the issue of the shares above, Metroelectric has a total of 602,011,405 ordinary shares in issue. As a result of the above transaction, Ashwillow Limited now holds 122,500,000 ordinary shares representing 20.34% of the issued share capital of the Company.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in the Company under the FSA's Disclosure and Transparency Rules.
The Directors of the Company accept responsibility for this announcement.
--ENDS--
Enquiries:
Metroelectric Plc
Greg Collier
Tel: 07830 182501
Rivington Street Corporate Finance Ltd
Eran Zucker
Tel: 020 7562 3373