Source - RNS
RNS Number : 3836K
Xtract Resources plc
21 September 2016


21 September 2016




Xtract Resources Plc

("Xtract" or "the Company")




Xtract Resources Plc (AIM: XTR) announces that the Company has drawn down £750,000 from its existing SEDA with YA Global Master ("YAGM").  In accordance with the terms of the SEDA, which was extended on 9 May 2016 to 31 December 2017, the Company has issued YAGM with 1,875,000,000 new Ordinary Shares at a price of 0.04p per share.


The funds will be used for ongoing working capital requirements as well as to repay £200,000 of the outstanding debt provided to the Company by YAGM.


New Ordinary Shares

Application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"), with Admission expected to occur on 27 September 2016.  On Admission the New Ordinary Shares will rank pari passu with the Company's existing issued Ordinary Shares.  

Following Admission, the Company will have 14,787,728,545 ordinary shares in issue with voting rights. Xtract does not currently hold any shares in treasury. Accordingly, this figure of 14,787,728,545 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 FCA's Disclosure and Transparency Rules.



Xtract Resources Plc

Colin Bird, Executive Chairman


+44 (0)20 3416 6471


Cenkos Securities plc

Derrick Lee

Beth McKiernan

+44 (0)131 220 6939

Beaufort Securities

Jon Beliss


+44 (0)207 382 8300


This information is provided by RNS
The company news service from the London Stock Exchange

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