18 July 2017
Issue of Ordinary Shares
The Company announces that pursuant to, and subject to, the terms and conditions set out in the share purchase and convertible security deed with Bergen Global Opportunities Fund, LP (details of which were set out in the Company's announcement on 8 May 2017) (the "Agreement") on 18 July 2017 it issued 13,389,719 new ordinary shares (the "Relevant Shares") at a purchase price of GBP0.07 per share, in connection with the second funding tranche of $1,200,000 under the Agreement. Application has been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 24 July 2017. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.
Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 316,473,908 ordinary shares with voting rights. This figure of 316,473,908 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the United Kingdom Listing Authority.
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