18 January 2017
GB00BD065038
Energy Circle PLC
("EC Plc" or "the Company")
£250,000 Convertible Loan Agreement
Energy Circle Plc, is pleased to announce that it has entered into an 8%
convertible loan agreement (the "Convertible Loan") with Energy Circle
Management Ltd ("ECM"). The convertible loan will convert into fully paid
Ordinary Shares of ECM. The £250,000 convertible loan will be used by ECM to
enter into an option agreement with a confidential third party to acquire the
development rights of a 5.3MW (elec) advanced conversion technology biomass
combined heat and power project in Scotland, which is all held in a SPV. The
option agreement fee of £250,000 is non-refundable. The project has Renewable
Obligation Certificates ("ROCs") of 1.8 and Renewable Heat Incentives.
Energy Circle Plc already has an option agreement with Energy Circle
Developments Ltd ("ECD") to acquire ECM. It will now finalise its due diligence
on this biomass project and decide whether to exercise its option and acquire
ECM along with the project SPV.
Neither this announcement nor the information contained herein constitutes an
offer or solicitation by Energy Circle Plc for the purchase or sale of any
securities
nor does it constitute a solicitation to any person in any jurisdiction where
solicitation would be unlawful.
The directors of Energy Circle Plc accept responsibility for this announcement.
COMPANY CONTACT DETAILS:
Energy Circle Plc
Queens Court
24 Queen Street
Manchester
M2 5HX
Telephone: +44 (0) 203 709 4707
http://invest.energycircleplc.com/
GSX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott -Corporate Finance
James Dewhurst - Institutional Sales
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
49 Queen Victoria Street, London EC4N 4SA