METROELECTRIC PLC
("Metroelectric" or the "Company")
Issue of Equity
Metroelectric is pleased to announce that the Company has raised £100,000 by way of a subscription for 50,000,000 new ordinary shares in the Company at a price of 0.2p pence per share. The shares were subscribed by Manilva Investments Limited, which is now interested in 50,000,000 ordinary shares, representing 5.21% of the issued share capital of the Company.
As announced on 24 September 2013, the funds raised will be used for working capital and to identify opportunities for the Company in the environmental sector, in order to widen its business remit.
Following the issue of the shares above, Metroelectric has a total of 961,011,405 ordinary shares in issue.
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 Imperial under the FSA's Disclosure and Transparency Rules.
The Directors of the Company accept responsibility for this announcement.
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Enquiries:
Metroelectric Plc
Greg Collier
Tel: 07830 182501
Peterhouse Corporate Finance Limited
Eran Zucker
Tel: 020 7469 0934