Petroleum Africa
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Wednesday, May 17, 2017
Aminex received a notice for the exercise of 167,561,032 warrants over ordinary shares with a nominal value of €0.001 each. All the warrants exercised had an exercise price of Stg 1 pence per warrant. Accordingly, 167,561,032 new Ordinary Shares will be issued.
The warrants were originally granted in accordance with a warrant deed signed on January 13, 2013 in conjunction with a corporate loan facility with a fund managed by Argo Capital Management (Cyprus) Ltd. The exercise price was originally €0.06 per warrant but subsequently amended on January 29, 2014 to Stg 1 pence per warrant as part of a capital raise. Additional warrants were granted in accordance with anti-dilution provisions following capital raisings undertaken by the Company. The warrants were exercisable by 30 June 2017. No warrants remain outstanding.
The proceeds from the exercise of the warrants will be used for working capital purposes.
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