Sunda Energy plc will issue 15,426,039 new ordinary shares following notice from Alumni Capital Ltd to convert £250,000 of the balance of its convertible loan note, plus a £25,000 finance charge.
TVRs
The conversion into ordinary shares of 0.1 pence each is at a price of 1.7827 pence, which is a 15% discount to the lowest daily volume weighted average price on any of the ten trading days before the issue of the conversion notice.
Sunda has additionally has granted 8,899,676 CLN warrants to Alumni Capital.
One warrant entitles the holder to subscribe for one ordinary share, at a 30% premium to the conversion price, being 2.3175 pence.
On admission, Sunda’s issued share capital will comprise 400,941,457 ordinary shares.
The company holds oil and gas interests in Timor-Leste, the Philippines and New Zealand.