Notice on conversion of debt to shares with resulting share capital increase
Juan Partecipazioni SA has provided Netoil Capital Ltd with a loan to cover day to day expenses. The loan totals USD 35 000 and has an interest rate of Libor +2%, repayable by end of 2022.
Juan Partecipazioni SA has requested that the outstanding loan be converted to shares and it is agreed that this will be done at a price of NOK 2.40.
Netoil Capital will as such issue 128 479 new shares to Juan Partecipazioni SA
In addition, John P. Kenny, who provided the initial funding for the company has requested that all his outstanding loans be converted to shares. The loan totals USD 455 960 including outstanding interest. This will also be done at NOK 2.40.
Netoil Capital will as such issue 1,785,843 shares to John P. Kenny
The following share capital increase relating to the completion of the Juan Partecipazioni SA and John P. Kenny conversion of loan
The new share capital in the company is £ 4559, divided into 45,590,964 with a par value of £ 0.0001.
The share capital increase is registered at Companies House and at the Norwegian
Central Securities Depository (“VPS”).
For further information, please contact: Nils Trulsvik, CEO, tel: +47 416 08 667
– e-mail: email@example.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.