METROELECTRIC PLC
("Metroelectric" or the "Company")
Loan Settlement, Issue of Equity and Total Voting Rights
Metroelectric today announces that it has issued a total of 309,000,000 ordinary shares of 0.1p following full conversion of all outstanding convertible loan notes issued by the Company amounting to a total of £309,000. The conversion of these loan notes has resulted in the following holdings of ordinary shares in the Company:
| Name: | Loan notes converted (£): | Number of ordinary shares issued at 0.1pence: | Total holding following conversion: | Resultant holdings: |
| Pictou Limited | 106,000 | 106,000,000 | 106,000,000 | 11.63% |
| Mayfair International FCZ | 133,000 | 133,000,000 | 186,555,817 | 20.48% |
| Manilva Investments Ltd | 70,000 | 70,000,000 | 82,500,000 | 9.05% |
Following the conversion of the above loan notes, the Company no longer has any convertible loan notes outstanding.
The Company has also been notified that Union MedTech Plc no longer holds a disclosable interest in the Company.
In accordance with the FSA's Disclosure and Transparency Rules, the Board of Metroelectric Plc confirms that the Company has 911,011,405 shares of 0.1p in issue carrying voting rights.
This 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.
Enquiries:
Metroelectric Plc
Greg Collier
Tel: 078 3018 2501
Peterhouse Corporate Finance Ltd
Eran Zucker/Fungai Ndoro
Tel: 020 7469 0934