Ncondezi Energy : Exercise of Warrants 30.07.2019

www.ncondezienergy.com

NEWS RELEASE

EXERCISE OF WARRANTS

30 July 2019: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) announces the receipt of

an exercise notice in relation to 1,500,000 warrants issued on 20 October 2017.

In relation to this exercise, the Company has resolved to issue and allot 1,500,000 new ordinary shares of no

par value ("Ordinary Shares"). An application has been made for these Ordinary Shares, which will rank pari

passu with the Company's existing ordinary shares, to be admitted to trading on AIM with admission expected

to take place at 8.00 am on 05 August 2019.

Following admission of the Ordinary Shares, the Company's enlarged issued share capital will comprise 324,993,717 ordinary shares with voting rights. This figure 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.

Enquiries

For further information please visit www.ncondezienergy.com or contact:

Ncondezi Energy:	Hanno Pengilly	[phone]
Liberum Capital Limited:	Andrew Godber, Edward Thomas, Kane	[phone]
NOMAD & Joint Broker	Collings
Novum Securities Limited	Colin Rowbury	[phone]
Joint Broker

Note:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Hanno Pengilly, Chief Development Officer of the Company (responsible for arranging release of this announcement) on [phone].

Ncondezi owns 100% of the Ncondezi Project which is strategically located in the power generating hub of the country, the Tete Province in northern Mozambique. The Company is developing an integrated thermal coal mine and power plant in phases of 300MW up to 1,800MW. The first 300MW phase is targeting domestic consumption in Mozambique using reinforced existing transmission capacity to meet current demand.

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