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Ncondezi Energy said it had received a shareholder loan conversion notice in relation to around 3.1m share in the company.
The notice was received from lenders at a conversion price of 10.0p per share.
Following admission of the shares, the company's enlarged issued share capital would comprise 323,493,717 ordinary shares with voting rights.
At 2:47pm: (LON:NCCL) Ncondezi Energy Limited share price was +0.05p at 8.15p