Following the recent capital increase Terraoil Swiss has now 142,886,508 registered shares issued
16 June 2020
In December 2019, the subordinated convertible loan in the amount of CHF 15 million and outstanding liabilities by third parties in the amount of CHF 9.6 million were agreed to be converted into Terraoil Swiss AG shares.
The conversion was implemented via the issue of new shares upon approval by the Company’s extraordinary shareholders' meeting, which was held on 17 March 2020. The approved capital increase amounted to new share capital of CHF 131,000 offsetting claims totalling CHF 24,582,250.86, for which the lending parties received 13,100,000 registered shares.
As a result, Terraoil Swiss AG has now 142,886,508 registered shares at CHF 0.01 outstanding (previously: 129,786,508 registered shares at CHF 0.01).