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Regulatory Story
Company Edenville Energy PLC
TIDM EDL
Headline Interim Results
Released 07:00 27-Sep-2019
Number 8607N07

RNS Number : 8607N
Edenville Energy PLC
27 September 2019
 

27 September 2019

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

 

Interim Results for the six months to 30 June 2019

 

 

Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, announces the Company's unaudited interim results for the six months ended 30 June 2019.

 

Key Period Highlights

 

·     

Executed equity placing to raise £510,000 (gross) in April 2019 to advance coal production

·     

Coal wash plant upgraded and now fully operational; including a Lamella water treatment plant, the introduction of a coal sizer and installation of a pre-screening plant, thereby enabling greater efficiency and productivity

·     

Started to re-treat fine coal, recovering approximately 40% of coal material above 8mm for either direct sale or subsequent blending with existing coal stocks to increase saleable product

·     

Completed the land compensation for the New Northern Mining Area (the "Northern Area")

·     

In June 2019 the Company established the new road to the Northern Area and commenced stripping and exposing of coal



 

Post Period Highlights

 

·     

Coal mining commenced in the Northern Area

·     

Encouraging coal sampling results. Analysis of unwashed Northern Area coal returned energy values averaging 6,200kcal/kg, with the highest being over 6,800kcal/kg.  These energy values are significantly higher than those seen in previously mined areas, which averaged approximately 5,000kcal/kg; the yielding of +6,000 kcal/kg GCV from unwashed coal provides the opportunity to sell coal without the requirement to put it through the wash plant

·     

Large coal measures of approximately 20m (and up to 40m) in thickness, 4 metres from surface, have been exposed in the Northern Area, compared to measures of approximately 3.5m in thickness in previously mined areas

·     

Mining now focused in the Northern Area given lower strip ratio, improved economics and better quality of coal

·     

Purchased two 30 tonne trucks from TATA, to be used in mining load and haul, moving away from contractor haulage to owner operated haulage

·     

In September 2019 the Company raised an additional £300,000 by way of a placing of 600,000,000 new ordinary shares, envisaged to provide sufficient capital until the Company turns cash flow positive from operations

·     

Appointment of mining industry expert Alistair Muir as a Non-Executive Director replacing Arun Srivastava

 

 

Jeff Malaihollo, Chairman of Edenville, commented: "During 2019 the Company has achieved encouraging operational progress at the Rukwa coal project.  The completion of the various upgrades to the wash plant are already providing greater recoveries, a reduction in consumables and should also enable greater throughput as mining operations continue to expand.  The opening up of the Northern Mining Area has yielded materially positive results, with thicker seams and higher quality coal than previously experienced at Rukwa.  As a consequence the Board believes both the economics and the profitability of operations should improve further as we continue to increase coal sales to new and historic customers.

 

"From a corporate perspective, the Company has recapitalised itself and formed a solid foundation from which to further build and achieve our primary short term objective, to become cash flow positive from operations during H1 2020.

 

"Whilst additional work naturally remains to be done, we are confident of reaching those value-enhancing milestones for shareholders in the timeframes previously outlined.  We would like to thank all of our shareholders for their continuing support and we look forward to the remainder of 2019 with confidence."

 

For further information please contact:

Edenville Energy Plc

+44 (0) 20 3934 6630

Jeff Malaihollo - Chairman


Rufus Short - CEO




SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

(Nominated Adviser and Joint Broker)


David Hignell


Jamie Spotswood


Abigail Wayne 




Brandon Hill Capital Limited

+44 (0) 20 7936 5200

(Joint Broker)


Oliver Stansfield


Jonathan Evans




IFC Advisory Limited

+44 (0) 20 3934 6630

(Financial PR and IR)


Tim Metcalfe


Graham Herring


Florence Chandler


 

 

CEO's report

 

Operational Report

 

Production of Coal

 

During the period the Company's primary focus was on the coal mining operations at the Company's Rukwa Coal Project (the "Project") in southwest Tanzania.

 

January 2019 got off to a good start with the addition of a second excavator to open up the mine along with the existing machine.  The Lamella Plant was operational and the newly constructed pre-screen plant started processing test material in January 2019 and became fully operational in February.  

 

In January 2019 the Company decided to carry out an Open Offer to existing shareholders in order to raise the remaining capital needed to open up the Northern Mining Area and subsequently increase production.  However, the Open Offer, at 0.12p per share, was poorly received and only approximately 10% of the planned £619,099 was eventually raised.  This left the Company in a challenging situation on how best to meet customers' orders and expand the operation.  

 

From February 2019 the Company took measures to conserve capital and continue supply to key customers whilst seeking alternative funding arrangements.  As announced on 1 April 2019, production was adversely impacted in H1 2019 with approximately 18,772 tonnes of Run of Mine ("ROM") coal processed to produce 4,411 tonnes of washed coal and 11,134 tonnes of fine coal between 1 January 2019 and 30 June 2019.

 

On 29 April 2019 the Company announced a conditional fundraising of £510,000 along with certain cost saving measures and started to make preparations to apply some of this funding to the Project development.  The main areas targeted were the opening up of the pit in the Northern Area, which has higher quality coal and thicker and easier to access coal seams.  At the same time we made small upgrades to the plant and infrastructure, such as an improved water pumping system and installation of a coal sizer prior to the plant.  At the end of the period land compensation work and the building of the road to the Northern Area were completed.  In addition, overburden stripping, which exposed coal, was undertaken in the Northern Area and mining subsequently commencing in July 2019.

 

The Company's target is to firstly reach a steady state production rate of 6,000 tonnes per month of washed coal product, which we believe will enable the Tanzania operations to break even.  Following this the second target is to reach 10,000 tonnes of washed coal produced per month which will provide positive cash flow for the Company.  The Directors believe the Company remains on track to become cash flow positive from existing operations during H1 2020.

 

The fine coal is effectively produced as a by-product and, to that end, we are continuing discussions with the previously outlined buyers of fine coal. The introduction of the pre-screen means that some of the stockpiled fine coal can now be reprocessed.  During the period we targeted areas of stockpiled fine coal that contained economically recoverable coal to feed through the pre-screen. Approximately 4,500 tonnes of the fine stockpile have been treated yielding 1,800 tonnes of sized coal.

 

Until recently, the Company had been relying on trucks supplied by contractors, which had sometimes proved to be an expensive and inefficient option.  To this end, as announced on 21 August 2019, Edenville took the decision to purchase two 30 tonnes trucks which are now used to provide the backbone of load and haul operations at the Project.  The wash plant is currently operating on a two shift basis, with the new trucks currently supplying the plant on one shift with the other shift being used to process coal from stockpiles.  As the Northern Area continues to develop the focus of mining is moving to this area and a double shift operation of extracting coal from the Northern Area will start once training of operators is completed by mid-October 2019.

 

Production in H2 2019 started well with the plant producing 1,134 tonnes of washed product, principally in the first half of July 2019, as the effects of the upgrades began to show.  The wash plant was reaching production rates of over 100 tonnes per day from a single shift during this period.  However, during the second half of July and the majority of August 2019, mining was adversely affected by the lack of available contractor trucks and a delay on the delivery of our own trucks, which in turn compromised the plant's production ability.  With the arrival of our own trucks in late August 2019 this issue has now been resolved and the available coal supply is steadily increasing, with further increases in production rates anticipated in the short term.  This will subsequently enable increased sales to identified customers, many of whom require a surety of supply, which the Company should now be able to offer.  As production of washed coal increases the Directors expect unit sales costs to progressively fall.  Post period end approximately 1,510 tonnes of washed coal has been shipped between 1 July 2019 and 20 September 2019.

 

 

Coal to Power Project

 

In October 2018 the Company submitted a Request for Qualification ("RFQ") for coal fired generation projects in Tanzania to Tanzania Electric Supply Company ("Tanesco"), which Tanesco officially accepted as being complete and complying with their requirements.  However, two weeks later, for reasons not given by Tanesco, the RFQ was cancelled and subsequently reinstated for a resubmission date in December 2018.  Edenville resubmitted their RFQ documents in line with the criteria set forward by Tanesco, which appeared identical to the previous criteria.  On 14 February 2019 Tanesco informed the Company that it had been unsuccessful in moving through the RFQ process to supply power to Tanesco.  No clear explanation has been given for this decision to date.  As far as the Company is aware no other privately held coal projects in Tanzania progressed successfully through the process.

 

The AFR RI-3A Tanzania - Zambia Transmission Interconnector project, which is being part financed by the World Bank, is continuing to move forward which we believe will have positive implications for our proposed coal to power project.  The financing agreement for credit is now in place and the procurement plan is continuing to progress.  As previously stated the Company's long term plan is to provide electricity to this transmission grid once it is completed and we are continuing to work towards this goal.  Currently completion is stated as being in 2024.

 

However, in the short to medium term the focus of the Company is on it coal mining operations and the sale of coal to Tanzanian and other customers in East Africa.

 

 

Financial Results

 

For the six month period ended 30 June 2019 the Company had revenue of £151,140 (H1 2018: £59,310). 

 

The Group made a loss after taxation of £888,045 (H1 2018 loss of £544,959).  The net assets at 30 June 2019 amounted to £6,367,559 (30 June 2018 £7,568,436).

 

The total comprehensive loss for the period was £887,339 (H1 2018 loss of £387,412), which included a gain of £706 (H1 2017 gain of £157,457) arising from the translation of the Tanzanian subsidiary accounts from US Dollars to Sterling.

 

 

Rufus Short

Chief Executive Officer

 

 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

 

 



Six months ended

30 June 19

Six months ended

30 June 18

Year

ended

31 Dec 18



Unaudited

Unaudited

Audited


Note

£

£

£

Revenue


151,140

59,310

337,125

Cost of sales


(476,352)

(54,663)

(1,191,312)



                

                

                

Gross profit


(325,212)

4,647

(854,187)

Administrative expenses


(483,112)

(526,648)

(839,515)

Share based payments


(16,077)

(23,235)

(76,319)

Written off intangible asset


-

-

-



                

                

                

Group operating loss


(824,401)

(545,236)

(1,770,021)

Finance income


56

277

529

Finance costs


(63,700)


(16,212)



                

                

                

Loss on operations before taxation


(888,045)

(544,959)

(1,785,704)






Taxation


-

-

-



                

                

                

Loss for the period after taxation


(888,045)

(544,959)

(1,785,704)

Other comprehensive income/(loss):





Gain/(loss) on translation of overseas subsidiary


706

157,547

(378,531)



                

                

                

Total comprehensive (loss)/income for the period


 

(887,339)

 

(387,412)

 

(1,407,173)



                

                

                

Attributable to:





Equity holders of the Company


(886,401)

(386,955)

(1,404,725)

Non-controlling interest


(938)

(457)

(2,448)



                

                

                



(887,339)

(387,412)

(1,407,173)



                

                

                

Loss per share





- basic and diluted (pence)

2

(0.04)

(0.04)

(0.12)



                

                

                

 

The income for the period arises from the Group's continuing operations.

CONSOLIDATED statement of financial position

 

as at 30 june 2019



As at

30 June 19

As at

30 June 18

As at

31 Dec 18



Unaudited

Unaudited

Audited


Note

£

£

£

Non-current assets





Property, plant and equipment

4

1,027,062

975,267

1,139,031

Intangible assets

5

5,779,973

5,664,122

5,775,829



                   

                   

                   



6,807,035

6,639,389

6,914,860

Current assets





Inventories


329,559

163,184

256,082

Trade and other receivables


506,042

390,755

396,671

Cash and cash equivalents


75,843

537,478

160,042



                   

                   

                  



911,444

1,091,417

812,795

Current liabilities





Trade and other payables


(749,860)

(162,370)

(556,063)

Convertible loan notes


(252,428)


(288,118)



                   

                   

                   



(1,002,280)

(162,370)

(844,181)



                   

                   

                   

Current assets less current liabilities


(90,844)

929,047

(31,386)



                   

                   

                   

Total assets less current liabilities


6,716,191

7,568,438

6,883,474






Non - current liabilities





Convertible loan notes


(348,632)

-

(282,076)



                   

                   

                   



6,367,559

7,568,436

6,601,398



                   

                   

                   

Capital and reserves





Called-up share capital

6

3,294,935

2,722,036

2,722,036

Share premium account


18,631,157

18,566,642

18,566,642

Share based payment reserve


291,540

224,376

275,463

Foreign currency translation reserve


934,202

712,512

933,496

Retained earnings


(16,771,838)

(14,647,974)

(15,884,731)



                   

                   

                   

Issued capital and reserves attributable to owners of the parent company


6,379,996

7,577,592

6,612,906

Non-controlling interest


(12,437)

(9,156)

(11,508)



                   

                   

                   

Total equity


6,367,559

7,568,436

6,601,398



                   

                   

                   

CONSOLIDATED statement of changes in equity

 





----------------------------------Equity Interests--------------------------------





 

 

 

Share capital

 

 

 

Share premium

 

 

 

Retained Earnings

 

 

Share option reserve

 

Foreign currency translation reserve

 

 

 

 

Total

 

 

Non- Controlling interest

 

 

 

 

Total


£

£

£

£

£

£

£

£










Balance at 1 January 2019

2,722,036

18,566,642

(15,884,731)

275,463

933,496

6,612,906

(11,508)

6,601,398

Issue of share capital

572,899

64,515

-

-

-

637,414

-

637,414

Share based payment charge

-

-

-

16,077

-

16,077

-

16,077

Foreign currency translation

-

-

-

-

706

706

9

715

Loss for the period

-

-

(887,107)

-

-

(887,107)

(938)

(888,045)


                

                 

                 

                 

                 

                 

                 

                 

Balance at 30 June 2019

3,294,935

18,631,157

(16,771,838)

291,540

934,202

6,379,996

(12,437)

6,367,559


                 

                 

                 

                 

                 

                 

                 

                 










Balance at 1 January 2018

2,679,750

17,910,928

(14,212,274)

309,943

554,965

7,243,312

(8,464)

7,234,848

Issue of share capital

42,286

697,714

-

-

-

740,000

-

740,000

Share issue costs

-

(42,000)

-

-

-

(42,000)

-

(42,000)

Share based payment charge

-

-

-

23,235

-

23,235

-

23,235

Lapse of share options

-

-

108,802

(108,802)

-

-

-

-

Foreign currency translation

 

-

 

-

 

-

 

-

 

157,547

 

157,547

 

(235)

 

157,312

Loss for the period

-

-

(544,502)

-

-

(544,502)

(457)

(544,959)


                

                 

                 

                 

                 

                 

                 

                 

Balance at 30 June 2018

2,722,036

18,566,642

(14,647,974)

224,376

712,512

7,577,592

(9,156)

7,568,436


                 

                 

                  

                 

                 

                 

                 

                 

 

 

 

 

 










 

 

 

Share capital

 

 

 

Share premium

 

 

 

Retained Earnings

 

 

Share option reserve

 

Foreign currency translation reserve

 

 

 

 

Total

 

 

Non- Controlling interest

 

 

 

 

Total


£

£

£

£

£

£

£

£










Balance at 1 January 2018

2,679,750

17,910,928

(14,212,274)

309,943

554,965

7,243,312

(8,464)

7,234,848

Issue of share capital

42,286

697,714

-

-

-

740,000

-

740,000

Cost of issue

-

(42,000)

-

-

-

(42,000)

-

(42,000)

Share options/warrants charge

-

-

-

76,319

-

76,319

-

76,319

Cancellation of share options

-

-

110,799

(110,799)

-

-

-

-

Foreign currency translation

-

-

-

-

378,531

378,531

(746)

377,785

Loss for the year

-

-

(1,783,256)

-

-

(1,783,256)

(2,448)

(1,785,704)

Non-controlling interest share of goodwill

-

-

-

-

-

-

150

150


                 

                 

                 

                 

                 

                 

                 

                 

Balance at 31 December 2018

2,722,036

18,566,642

(15,884,731)

275,463

933,496

6,612,906

(11,508)

6,601,398


                 

                 

                

                

                

                

                

                

consolidated CASH FLOW STATEMENT

 


Six months

ended

30 June 19

Six months

ended

30 June 18

Year

 ended

31 Dec 18


Unaudited

Unaudited

Audited


£

£

£

Cash flows from operating activities




Operating loss

(824,401)

(545,263)

(1,770,021)

Depreciation

110,929

104,493

229,732

Amortisation

14,461

-

57,928

Share based payments

16,077

23,235

76,319

(Increase) in inventories

(73,477)

(163,184)

(256,082)

(Decrease) in trade and other receivables

(108,496)

(81,565)

(77,196)

Increase in trade and other payables

191,590

13,527

390,069

Foreign exchange gain/(loss)

(11,006)

4,323

37,584


               

               

               

Net cash used in operating activities

(684,323)

(644,434)

(1,311,667)





Cash flows from investing activities




Purchase of exploration and evaluation assets

-

(467,553)

(468,145)

Purchase of property, plant and equipment

(706)

-

(259,601)

Finance income

56

277

529

Finance cost

(16,884)

-

-


              

              

              

Net cash used in investing activities

(17,494)

(467,276)

(727,217)


                

                

                

Cash flows from financing activities




Proceeds from issue of convertible loan notes

-

-

548,853

Repayment of convertible loan notes

(11,787)

-


Proceeds on issue of shares

630,214

740,000

740,000

Share issue costs

-

(42,000)

(42,000)


              

              

              

Net cash generated from financing activities

618,427

698,000

1,246,853


              

              

              





Net decrease in cash and cash equivalents

(83,430)

(413,710)

(792,031)

Cash and cash equivalents at beginning of year

160,042

951,078

951,078

Exchange losses on cash and cash equivalents

(769)

110

995


              

              

              





Cash and cash equivalents at end of year

75,843

537,478

160,042


              

              

              





NOTES TO THE INTERIM REPORT

 

1.         Financial information and basis of preparation

 

The interim financial statements of Edenville Energy Plc are unaudited consolidated financial statements for the six months ended 30 June 2019 which have been prepared in accordance with IFRSs as adopted by the European Union.  They include unaudited comparatives for the six months ended 30 June 2018 together with audited comparatives for the year ended 31 December 2018.

 

The interim financial statements do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006.  The statutory accounts for the year ended 31 December 2018 have been reported on by the company's auditors and have been filed with the Registrar of Companies.  The report of the auditors was (i) unqualified, (ii) contained a "Material uncertainty relating to going concern paragraph and (iii) did not contain any statement under section 498 of the Companies Act 2006.

 

The interim consolidated financial statements for the six months ended 30 June 2019 have been prepared on the basis of accounting policies expected to be adopted for the year ended 31 December 2019. These are anticipated to be consistent with those set out in the Group's latest financial statements for the year ended 31 December 2018. These accounting policies are drawn up in accordance with adopted International Accounting Standards ("IAS") and International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board and adopted by the EU.

 

 

2.          Loss per share

 

The calculation of the basic and diluted loss per share is based on the following data:

 


30 June 19

30 June 18

31 December 18

 


£

£

£

 

Loss after taxation

(888,045)

(544,959)

(1,785,704)





Weighted average number of shares in the period

 

2,311,584,263

 

1,412,667,005

 

1,476,497,888





Basic and diluted loss per share (pence)

(0.04)

(0.04)

 

(0.12)

 

The loss attributable to equity shareholders and weighted average number of ordinary shares for the purposes of calculating diluted earnings per ordinary share are identical to those used for basic earnings per ordinary share. This is because the exercise of share options and warrants would have the effect of reducing the loss per ordinary share and is therefore anti-dilutive.

 

 

 

3.         Dividends

No dividends are proposed for the six months ended 30 June 2019 (six months ended 30 June 2018: £nil, year ended 31 December 2018: £nil).

 

4.    Tangible assets

 


Plant & machinery

Fixtures & fittings

Motor vehicles

 

Total


£

£

£

£

Cost or valuation

As at 1 January 2019

 

1,435,541

 

7,360

 

93,946

 

1,536,847

Additions

706

-

-

706

Foreign exchange adjustment

4,600

10

249

4,859


                

                

                

                

At 30 June 2019

1,440,847

7,370

94,195

1,542,412


                

                

                

                

Accumulated depreciation





As at 1 January 2019

306,410

7,010

84,396

397,816

Charge for period

109,736

43

1,150

110,929

Foreign exchange adjustment

6,325

10

270

6,605


                

                

                

                

As at 30 June 2019

422,471

7,063

85,816

515,350


                

                

                

                






Net book value





As at 30 June 2019

1,018,376

307

8,379

1,027,062


                

                

                

                






 

 


Plant & machinery

Fixtures & fittings

Motor vehicles

 

Total


£

£

£

£

Cost or valuation

As at 1 January 2018

 

1,111,852

 

7,184

 

89,709

 

1,208,745

Additions

-

-

-

-

Foreign exchange adjustment

25,679

70

1,697

27,446


                

                

                

                

At 30 June 2018

1,137,531

7,254

91,406

1,236,191


                

                

                

                

Accumulated depreciation





As at 1 January 2018

64,873

6,719

77,570

149,162

Charge for period

102,941

58

1,494

104,493

Foreign exchange adjustment

5,687

70

1,512

7,269


                

                

                

                

As at 30 June 2018

173,501

6,847

80,576

260,924


                

                

                

                






Net book value





As at 30 June 2018

964,030

407

10,830

975,267


                

                

                

                






 

4.         Tangible assets (continued)

 


Plant & machinery

Fixtures & fittings

Motor vehicles

 

Total


£

£

£

£

Cost or valuation

As at 1 January 2018

 

1,111,852

 

7,184

 

89,709

 

1,208,745

Additions

259,601

-

-

259,601

Foreign exchange adjustment

64,088

176

4,237

68,501


                

                

                

                

At 31 December 2018

1,435,541

7,360

93,946

1,536,847


                

                

                

                






Accumulated depreciation





As at 1 January 2018

64,873

6,719

77,570

149,162

Charge for the year

226,551

115

3,066

229,732

Foreign exchange adjustment

14,986

176

3,760

18,922


                

                

                

                

At 31 December 2018

306,410

7,010

84,396

397,816


                

                

                

                

Net book value





As at 31 December 2018

1,129,131

350

9,550

1,139,031


                

                

                

                

 

5.    Intangible assets

 








 

Development and production expenditure

 

Goodwill

 

Total



£

£

£

Cost or valuation





As at 1 January 2019


5,501,291

1,572,197

7,073,488

Foreign exchange adjustment


 

17,721

 

5,064

 

22,785



                

                

                

At 30 June 2019


5,519,012

1,577,261

7,096,273



                

                

                






Accumulated amortisation and impairment





As at 1 January 2019


57,928

1,239,731

1,297,659

Charge for the period


14,461

-

14,461

Foreign exchange adjustment


 

187

 

3,993

 

4,180



                

                

                

As at 30 June 2019


72,576

1,243,724

1,316,300



                

                

                

 

Net book value





As at 30 June 2019


5,446,436

333,537

5,779,973



                

                

                











 

5.    Intangible assets (continued)

 


Exploration and evaluation assets





Tanzanian Licences

Development and production expenditure

 

Goodwill

 

Total


£


£

£

As at 1 January 2018

4,757,087

-

1,485,965

6,243,052

Additions

452,758

14,795

-

467,553

Foreign exchange adjustment

117,944

-

34,552

152,496

Transfer

(5,327,789)

5,327,789




                

                

                

                

At 30 June 2018

-

5,342,584

1,520,517

6,863,101


                

                

                

                

Accumulated amortisation and impairment



 

As at 1 January 2018

-

-

1,171,734

1,171,734

Foreign exchange adjustment

-

-

27,245

27,245


                

                

                

                

As at 30 June 2018

-

-

1,198,979

1,198,979


                

                

                

                






Net book value





As at 30 June 2018

-

5,342,584

321,538

5,664,122


                

                

                

                






Cost or valuation

As at 1 January 2018


 

4,757,087

 

1,485,965

 

6,243,052

Additions


468,145

-

468,145

Foreign exchange adjustment


276,059

86,232

362,291



                

                

                

At 31 December 2018


5,501,291

1,572,197

7,073,488



                

                

                






Accumulated amortisation and impairment





As at 1 January 2018


-

1,171,734

1,171,734

Depletion of development and production assets


 

57,928

 

-

 

57,928

Foreign exchange adjustment


-

67,997

67,997



                

                

                

At 31 December 2018


57,928

1,239,731

1,297,659



                

                

                

Net book value





As at 31 December 2018


5,443,363

332,466

5,775,829



                

                

                






 

 

 

6.    Share capital


No

£

No

£

£


Ordinary shares of 0.02p each

Ordinary shares of 0.02p each

Deferred shares of 0.001p each

Deferred shares of 0.001p each

Total share capital

Issued and fully paid






At 1 January 2019

1,547,746,369

309,551

241,248,512,346

2,412,485

2,722,036

On 20 February 2019 the company issued 36,000,000 shares at 0.02p

 

36,000,000

 

7,200

 

-

 

-

 

7,200

On 20 February 2019 the Company issued 64,515,192 shares at 0.12p each

 

64,515,192

 

12,904

 

-

 

-

 

12,904

On 2 May 2019 the Company issued 500,000,000 shares at 0.02p each

 

500,000,000

 

100,000

 

-

 

-

 

100,000

On 20 May 2019 the Company issued 2,263,980,200 shares at 0.02p each

 

2,263,980,200

 

452,795

 

-

 

-

 

452,795







As at 30 June 2019

4,412,241,761

882,450

241,248,512,346

2,412,485

3,294,935













 

 


No

£

No

£

£


Ordinary shares of 0.02p each

Ordinary shares of 0.02p each

Deferred shares of 0.001p each

Deferred shares of 0.001p each

Total share capital

Issued and fully paid






At 1 January 2018

1,336,317,797

267,265

241,248,512,346

2,412,485

2,679,750

On 3 May 2018 the Company issued 211,428,572 shares at 0.35p each

211,428,572

42,286

-

-

42,286







As at 30 June 2018

1,547,746,369

309,551

241,248,512,346

2,412,485

2,722,036













 

 


No

£

No

£

£


Ordinary shares of 0.02p each

Ordinary shares of 0.02p each

Deferred shares of 0.001p each

Deferred shares of 0.001p each

Total share capital

Issued and fully paid






At 1 January 2018

1,336,317,797

267,265

241,248,512,346

2,412,485

2,679,750

On 3 May 2018 the Company issued 211,428,572 shares at 0.35p each

211,428,572

42,286

-

-

42,286







As at 31 December 2018

1,547,746,369

309,551

241,248,512,346

2,412,485

2,722,036













 

7.    Distribution on interim report to shareholders

 

The interim report will be available for inspection by the public at the registered office of the company during normal business hours on any weekday and from the Company's website http://www.edenville-energy.com/. Further copies are available on request.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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