ECV Eco City

TIDMECV

RNS Number : 3720K

Eco City Vehicles PLC

30 December 2015

30 December 2015

Eco City Vehicles PLC

("ECV" or the "Company")

Issue of Equity

The board of directors of ECV confirms that further to the announcement of 1 December 2015 (all defined terms as per that announcement) and following the passing of the requisite resolutions at the General Meeting of the Company held on 23 December 2015, the Company has issued 413,114,754 new Ordinary Shares.

The Company has issued 409,836,066 Subscription Shares at a price of 1.22 pence per share, raising a total of GBP5,000,000 under the Subscription. In addition to the Subscription, the Directors between them have subscribed for 3,278,688 new Ordinary Shares at 1.22 pence per share in lieu of receiving unpaid Directors' fees of GBP40,000.

413,114,754 new Ordinary Shares will be admitted to trading on AIM with effect from 31 December 2015. Following the issue of the 413,114,754 new Ordinary Shares, the Company will have a total of 441,885,446 Ordinary Shares in issue, and have the following significant shareholders (as far as the Company is aware):

 
 Name Of Shareholder      Number Of Ordinary   % of Issued Share 
                                Shares              Capital 
 
 Euroblue Investments 
  Ltd.                       114,987,190             26.02 
 Henderson Global 
  Investors Ltd.             114,889,590             26.00 
 MXC Capital 
  Ltd.                       109,289,672             24.73 
 Hargreave Hale 
  Ltd.                        40,983,607             9.27 
 Livingbridge 
  VC LLP                      20,491,803             4.64 
 Harwood Capital 
  LLP                         20,491,803             4.64 
 

In addition, the Directors now hold the following Ordinary Shares:

 
 Name Of Director     Number Of Ordinary   % of Issued Share 
                            Shares              Capital 
 
 John Swingewood          6,738,837              1.53 
 Ran Oren                 1,639,344              0.37 
 

The Company can also confirm that the warrant agreement described in the announcement of 1 December 2015 has now been entered into and MXC now hold Warrants over 5% of the enlarged Ordinary Share capital of the Company.

Enquiries:

Eco City Vehicles plc

   John Swingewood, Director                                                          +44 1444 440 359 

Allenby Capital (Nomad and Broker)

   Nick Harriss/John Depasquale                                                     +44 20 3328 5656 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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