Metroelectric PLC
("Metroelectric" or the "Company")
Issue of Equity
Metroelectric announces that it has received notice from Gatcombe Holdings Limited ("Gatcombe") to convert their remaining £200,000 nominal of unsecured convertible loan notes. As a result, the Company has issued 200,000,000 ordinary shares in the Company at the conversion price of 0.1 pence per share.
Gatcombe now holds a total of 250,000,000 ordinary shares representing 19.07% of the enlarged issued share capital of the Company.
In accordance with the FCA's Disclosure and Transparency Rules, the Board of Metroelectric confirms that following the above allotment, the Company has 1,311,011,405 ordinary shares of 0.1p in issue carrying voting rights.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA'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: 078 3018 2501
Peterhouse Corporate Finance Limited
Eran Zucker and Fungai Ndoro
Tel: 020 7469 0934