TIDMKSI

RNS Number : 2229F

Kleenair Systems International PLC

20 April 2011

KLEENAIR SYSTEMS INTERNATIONAL PLC

(AIM: KSI)

Issue of Equity

Kleenair Systems International Plc ("Kleenair" or "the Company") announces that Global Investment Strategy (UK) Ltd ("GIS") has agreed to convert a further GBP18,056 of its outstanding debt into 1,805,555 ordinary shares of 0.1 pence each ("Ordinary Shares"). These shares have been placed with unconnected third parties to GIS. The third parties with a resulting discloseable interest are as follows:

 
                                                     % of enlarged 
 Name                New Shares   Revised Holding    share capital 
 Basinco Holdings     1,805,555         5,972,215             11.0 
 

On 28 July 2009 and 23 November 2009, the Company entered into two loan note instruments creating an aggregated amount of 440,000 GBP1 convertible loan notes, which include 10 per cent. commission (the "Loan Notes"). Following this conversion the outstanding secured convertible debt held by GIS pursuant to the Loan Notes agreements is GBP147,870.60 convertible into a further 14,787,060 new Ordinary Shares. The remaining Loan Notes detailed above are convertible into Ordinary Shares at a conversion price of 1 pence, expiring on 23 May 2011.

GIS also holds GBP300,000 of additional convertible loan notes pursuant to a loan note instrument dated 22 June 2010 under which Kleenair may issue up to GBP1 million secured convertible loan notes to GIS. These convertible loan notes may be converted into new Ordinary Shares at any time in accordance with the terms of the instrument at a price of 2.7 pence per share or at a discount of 10 per cent. to the average market price based on the previous five business days trading, whichever is lower.

Application for these shares to be admitted to trading on AIM has been made and is expected to occur on 26 April 2011. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. Following this issue the Company will have 54,275,065 Ordinary Shares of 0.1 pence each in issue.

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R), the Company confirms that, following this issue, its issued share capital comprises 54,275,065 Ordinary Shares of 0.1 penny each, 400,932 Deferred Shares of 99 pence each and 1,221,200 B Ordinary Shares of 0.1 penny each. The Deferred Shares and B Ordinary Shares have no voting rights. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company is therefore 54,275,065. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

 
 Contacts: 
 
 KleenAir Systems International 
  plc                                www.KleenAir-systems.com 
 Sarah Pozner, Executive Director        +44 (0) 207 048 9400 
 
 WH Ireland Limited                      www.wh-ireland.co.uk 
 JN Wakefield / Marc Davies              +44 (0) 117 945 3470 
 
 Global Investment Strategy UK 
  Limited 
 John Gunn                               +44 (0) 20 7048 9400 
 

About KleenAir:

KleenAir is an investing company which aims to invest in disruptive products or technologies that are either proven or at the latter stages of development, which own or have exclusive license to the relevant intellectual property (IP) and may benefit from feed in tariffs or other renewable energy incentives.

KleenAir's investment focus is on the UK, with potential for investment further afield.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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Kleenair (LSE:KSI)
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