Posting of Circular
Edenville Energy Plc (AIM: EDL), the AIM quoted company operating the Rukwa Coal Project in southwest Tanzania (“Rukwa”) is pleased to announce that it is today posting a Circular to Shareholders convening a General Meeting in respect of the Placing announced 5 May 2021.
The Circular will shortly be available on the Company’s website: https://edenville-energy.com/aim-rule-26/
The General Meeting will be held at 11.00 a.m. on 25 May 2021 at the offices of Womble Bond Dickinson (UK) LLP at 4 More London Riverside, London, SE1 2AU. In light of the current Covid-19 situation, the General Meeting will be held as a closed meeting and accordingly, save for the Board, no Shareholders will be able to physically attend the General Meeting.
Proceeds from the Placing, coupled with the Company’s existing cash resources, will be used to augment working capital and target additional asset acquisitions, leveraging the natural resources and capital markets expertise of its Board, and significant shareholders, which will be materially boosted by the involvement of Mr Buckingham who is set to become the Company’s largest shareholder. The Company also intends to use the Placing proceeds to repay in cash the outstanding amount of US$421,313 owing to Lind Partners LLC under the Funding Agreement dated 6 November 2018.
The Board therefore unanimously recommends that Shareholders vote in favour of the Resolutions to be proposed at the General Meeting, as those Directors who hold Existing Ordinary Shares intend to do.
Capitalised terms are as defined in the Company’s 7.00 am announcement released on 5 May 2021.