Vis børsmeldingen
European High Growth Opportunities Securitization Fund represented by European
High Growth Opportunities Securitization Fund Manco SA (“EHGO”) has on 20 May
2019 converted NOK 2,000,000 in convertible notes to 606,060 shares in Element.
After the conversion EHGO holds (i) 735,129 shares in Element, equal to 8,87% of
the new share capital (the “New Share Capital”)*, (ii) 12,500,000 convertible
notes convertible to 3,787,879 shares in Element (as at today’s conversion
price, but adjustable if the conversion price is adjusted at the time of
conversion), equal to 45.68% of the New Share Capital and (iii) 884,058 warrants
giving the right to 884,058 new shares in Element, equal to 10,66% of the New
Share Capital. Furthermore, EHGO has an obligation to redeliver 287,500 borrowed
shares in Element pursuant to loan agreements with Legacy Hill Resources Ltd and
Element, as disclosed on 18 March 2019.
Following the conversion, EHGO’s total holding of shares and rights to shares
(through warrants to shares) make up 65.21% of the New Share Capital.
EHGO is a fund managed by Alpha Blue Ocean Inc. (“ABO”). ABO owns 309,368
warrants in Element giving the right to 309,368 new shares in Element, equal to
3,73% of the New Share Capital.
ABO’s total holding of shares and rights to shares (based on warrants) on a
consolidated basis, make up 5,736,433 shares and votes, equal to 68.93 % of the
New Share Capital.
*The calculations above are based on the new share capital following conversion
of notes by EHGO on 20 May 2019.
The disclosure regulation (flaggereglene) requires that the disclosure
thresholds regarding rights to shares (i.e. notes and warrants) are calculated
on the basis of registered share capital of the issuer at the time of disclosure
and do not give the correct view taking into account the situation at the time
of conversion/exercise of rights to shares. On a fully diluted basis, taking
into account all share issuances pursuant to convertible bonds and warrants,
ABO’s consolidated holding of shares and rights to shares will amount to 53,45%
of the New Share Capital of Element.
**
About Alpha Blue Ocean Inc.
Alpha Blue Ocean Inc. is an international business company incorporated under
the laws of the Republic of Seychelles, represented by Mr. Pierre Vannineuse.
Mr. Pierre Vannineuse is the sole shareholder and sole Director of Alpha Blue
Ocean Inc. Alpha Blue Ocean Inc. is a member of the Blue Ocean Investment Group.
Alpha Blue Ocean Inc. was created by Pierre Vannineuse and manages an asset
portfolio of around 300 million dollars for a group of funds. Blue Ocean
specializes in providing flexible, innovating and non-invasive debt and capital
financing arrangements to listed companies throughout the world and in various
sectors such as healthcare, energy, mining and high tech. Alpha Blue Ocean Inc.
has offices in London and Geneva.
http://www.netfonds.no/quotes/release.php?id=20190523.OBI.20190523S53
