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Following the passing of the resolutions at the AGM, the Conditional Placing, as announced on 11 July 2018, was approved. Accordingly, the Company has issued the conditional placing shares totalling 3,000,000,000 Ordinary Shares, which will rank pari passu in all respects with all existing ordinary shares in the Company, and has applied for Admission to trading on AIM of such shares with effect from 6 August 2018. Following Admission, the Company will have an issued share capital of 14,662,162,387 Ordinary Shares.
Furthermore following the passing of the Share Consolidation resolution at the AGM, every 50 Existing Ordinary Shares that are in issue as at the close of business 9 August 2018, will be consolidated into one New Ordinary Share. Accordingly there will be 293,243,247 New Ordinary Shares in issue compared with the pre-consolidation total of 14,662,162,387 Ordinary Shares.
The New Ordinary Shares arising on implementation of the share consolidation will have the same rights as the Existing Ordinary Shares, including voting and other rights. The Company’s new Stock Exchange Daily Official List (“SEDOL”) code will be BZ7PNY7 and its new ISIN code will be IM00BZ7PNY71. The Company’s Tradable Instrument Display Mnemonic (“TIDM”) remains unchanged: “ADL”.
Application will be made for the New Ordinary Shares to be admitted to trading on AIM (“Admission”) and dealings are expected to commence at 8:00 am on 10 August 2018.
As no shares are held in treasury, the above figure of 14,662,162,387 should be used by shareholders as the denominator for the calculations by which they 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 with effect from 6 August 2018.
From 10 August 2018, the Company will have an issued share capital of 293,243,247 New Ordinary Shares and it is this figure that should then be used by shareholders as the denominator for the calculations by which they 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 information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR). Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
|Simon Gorringe||Andalas Energy and Power Plc||Tel: +62 21 2965 5800|
|Roland Cornish/ James Biddle||Beaumont Cornish Limited
|Tel: +44 20 7628 3396|
|Colin Rowbury||Novum Securities Limited
|Tel: +44 207 399 9427|
|Christian Dennis||Optiva Securities Limited
|Tel: +44 20 3411 1881|
|Stefania Barbaglio||Cassiopeia Services Ltd||Stefania@cassiopeia-ltd.com|