ZimNRG plc

February 11, 2016 10:56 ET

Posting of Circular to Shareholders and Notice of General Meeting

RNS Announcement
11 February 2016

                                     ZimNRG PLC (the "Company")
                 Posting of Circular to Shareholders and Notice of General Meeting
                     Placing of 19,027,268 New Ordinary Shares at 0.2628p each 
                                  Approval of new investing policy
                             Approval of change of name to MetalNRG PLC
                                      Adoption of New Articles
                                  Reorganisation of Share Capital

The  Company  has conditionally raised £50,003 before expenses by way of a subscription  from  Metal
Tiger  PLC  for  19,027,268  new ordinary shares at a price of 0.2628p per  share  (the  "Placing").
Following closing of the Placing, Metal Tiger PLC will hold 28.25% of the Company.

The Placing is conditional upon:

(i)   Admission of the Placing Shares to trading on ISDX after the record date, and;
(ii)  Approval of all the Proposed Resolutions of the General Meeting.

Loeb Aron & Company Ltd ("Loeb Aron") has been appointed as Advisor to ZimNRG plc for  the  purposes
of the Placing and will remain as ISDX Corporate Advisor to the Company following the transaction.

Subject to shareholders approval by way of Ordinary and Special Resolution at the General Meeting on
11 March 2016 at 12:00pm, it is proposed:

(i)   That  the  issued ordinary shares of 0.5p each be sub-divided into one New Ordinary  Share  of
      0.01p and, one Deferred Share of 0.49p
(ii)  That  the Directors be generally and unconditionally authorised to allot equity securities  of
      up to an aggregate nominal value of £15,000
(iii) That the Company adopts new Articles of Association
(iv)  That  the  Directors  be  generally empowered  to allot  equity  securities  without  applying
      statutory pre-emption rights up to an aggregate nominal value of £15,000
(v)   That the name of the Company be changed to MetalNRG PLC
(vi)  That the Company adopts a new investing policy 

It is proposed that immediately following the Placing,  Jonathan de Thierry will resign as  chairman
of the Company. Christopher Latilla-Campbell will be appointed as Chairman and Paul Johnson shall be
appointed  as  a  new  Non-Executive Director.  The Company shall make  a  separate  announcement(s)

A  PDF  version  of  the full Circular document is available on the  ISDX  website  under  'Investor
Documents' section of ZimNRG's quote page.

For further information please contact:
ZimNRG plc
Christopher Latilla Campbell
Tel: 01604 845 551

Loeb Aron & Co. Ltd
Peter Freeman / Anthony Kluk
Tel: 0207 628 1128

Contact Information

  • ZimNRG plc