Pineapple Power Corporation PLC announced the allotment of 11,600,000 new ordinary shares to Nicholas Nelson, a non-executive director, following the conversion of Convertible Loan Notes (CLNs). Nelson participated in the CLNs with £20,000 and was issued additional notes against a £9,000 bridging loan he had previously provided to the company, totaling £29,000 in loan notes converted. The conversion price was set at £0.0025 per share, resulting in Nelson's total shareholding in the company standing at 11,600,000 shares. The transaction was conducted outside a trading venue.
The company previously raised £300,000 through the issue of CLNs on June 29, 2026, with the same conversion terms. This allotment brings Pineapple Power's total issued share capital to 94,932,877 ordinary £0.001 shares. The company has £289,000 remaining in outstanding CLNs, which are convertible into 115,600,000 shares. The company's ordinary shares trade under the ISIN GB00BD0SN947.
