TIDMCIA 
 
30 June 2023 
 
                            Clean Invest Africa Plc 
 
                     ("CIA", the "Company" or the "Group") 
 
      Placing to raise £90,000, Issue £60,300 of Convertible Loan Notes, 
 
                    CoalTech Sukuk and Total Voting Rights 
 
Clean Invest Africa Plc, the AQUIS quoted investment company is pleased to 
announce the successful completion of a placing (the "Placing"), to raise £ 
90,000 to support the continuing growth of its wholly- owned subsidiaries, 
CoalTech Limited ("CoalTech") and Coal Agglomeration South Africa (Pty) Ltd 
("CASA"), and to provide working capital to the Group. 
 
The Company is also pleased to announce that it has issued unsecured 
convertible loan notes for a total of £60,300 (the "CLNs"). The funds raised as 
a result of the issue of the CLNs will also be used to provide additional 
working capital for the Company. 
 
Coaltech is continuing the development of its marketing and commercialization 
strategy with a number of ongoing initiatives currently at advanced stage of 
development. A trading update will be released shortly, providing information 
on the key projects, including the starting of commercial operation of the 
Bulpan Plant, by the south African subsidiary, CASA. 
 
Placing 
 
A total of 18,000,000 Ordinary Shares of 0.25p nominal value each ("Placing 
Shares") have been placed with investors at 0.5p per share. For every two 
Placing Share issued, one warrant will be granted, exercisable at 1.5p, valid 
for a period of three years from the date of admission of the Placing Shares to 
the AQSE Growth Market. Further, should the Investors validly exercise the 1.5p 
warrants in full, these will be replaced by a further one warrant, exercisable 
at 3p, for every two Placing Shares, valid for three years from grant. 
 Application has been made for the Placing Shares to trading on the AQSE Growth 
Market and this is expected to occur on or around 7th July 2023. 
 
Issue of Convertible Loan Notes 
 
The Company has granted an unsecured Convertible Loan Notes ("CLN") for an 
amount of USD 75,000 (equivalent to GBP 60,300 as per agreed FT exchange rate 
of 0.804) with a maturity of 22/11/2023 (with options to extend for an 
additional 6 months at the sole discretion of the investors, to be exercised 
before Final Redemption date) at a conversion price into Ordinary Shares in CIA 
at 1p per share ("Conversion Price"), at the option of the CLN holder, and with 
a 10% interest coupon payable on quarterly basis in arrears, either by payment 
in cash or by converting such accrued interest into new fully paid Ordinary 
Shares at the agreed Conversion Price, at the sole discretion of investors. 
Both the CLN and the coupon also carry the equivalent of one Warrant for every 
two Ordinary Shares resulting from the conversions, each with an exercise price 
of 2.5p and valid for a period of 3 years. 
 
CoalTech Sukuk 
 
In addition to the above funding update, CIA has been working with Reyl & Cie 
("REYL"), a subsidiary of Intesa SanPaolo Group, with significant ESG 
commitment together with a world-class position in Social Impact and strong 
focus on climate business, to structure the issuance of one or several tranches 
of a Shariah compliant trust certificate (the "Trust Certificates" or "Sukuk"). 
Following the preliminary works required to confirm compliance with Islamic 
Finance principles and the issuance of the Pre-Fatwa by the Shariah 
Advisor Mohammed Sheikh Dr. Elgari, the Shariah scholar appointed to advise on 
Shariah matters, the Company is now appointing REYL as structurer and arranger 
in relation to the issuance of one or several tranches of the Sukuk. The 
Company will keep updating the market as this initiative develops. 
 
Total Voting Rights 
 
Following the issue of the Placing Shares, the issued share capital of the 
Company will consist of 1,831,863,402 Ordinary Shares. No shares were held in 
treasury at the date of this announcement. The total current voting rights in 
the Company are therefore 1,831,863,402. The above figure of 1,831,863,402 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. 
 
The directors of the Company accept responsibility for the contents of this 
announcement. 
 
ENQUIRIES : 
 
Clean Invest Africa plc 
 
Filippo Fantechi - Chief Executive Officer:  +973 3 9696273 
 
Peterhouse Capital Limited 
 
Guy Miller +44 20 7469 0930 
 
 
 
END

(END) Dow Jones Newswires

June 30, 2023 09:35 ET (13:35 GMT)

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