Aim-listed Ncondezi Energy has received a shareholder loan conversion notice for 764 165 shares from lenders to be converted at a conversion price of 10p a share.
Admission of these shares on Aim is expected to take place on April 26.
Following the admission of these shares, Ncondezi’s enlarged issued share capital will comprise just over 316.7-million shares with voting rights.
Ncondezi is developing its large-scale Ncondezi integrated coal mine and 1 800 MW power plant project, in Mozambique. The project is being developed in phases.