Prospex Energy PLC Conversion of Loan Notes and TVR (2980N)
29 September 2021 - 4:00PM
UK Regulatory
TIDMPXEN
RNS Number : 2980N
Prospex Energy PLC
29 September 2021
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and
Gas
29 September 2021
Prospex Energy PLC
Conversion of Loan Notes and TVR
Prospex Energy PLC, ('Prospex' or the 'Company') the AIM quoted
investment company (AIM:PXEN) focused on European gas and power
projects, announces that it has issued a total of 1,307,644
ordinary shares of 0.1p each in the capital of the Company
("Ordinary Shares"), following the conversion of a portion of the
outstanding convertible loan notes issued in December 2020 (the
"2020 CLNs").
The conversion of these 2020 CLNs will cancel a total of
GBP26,806.72 convertible loan notes, thus improving the Company's
balance sheet by that amount. The 2020 CLNs are being converted at
a price of 2.05p and were issued to an individual pursuant to a
loan note instrument dated 23 December 2020 and announced by the
Company on 24 December 2020. Following the conversion, GBP10,000 of
the 2020 CLNs issued pursuant to the same instrument is
outstanding. As a result of this 2020 CLN conversion the accrued
interest since 23 December 2020 of GBP652.82 will be paid in cash
to the loan note holder.
Admission to Trading
The Company has today applied to the London Stock Exchange for
admission of 1,307,644 new Ordinary Shares to trading on AIM
('Admission'). Admission is expected to occur on or around 4
October 2021. On 1 October 2021 there will be 175,514,835 Ordinary
Shares in issue and 7,361 shares held in Treasury. Following
Admission, there will be 176,822,479 Ordinary Shares in issue.
Deducting the 7,361 held in Treasury there will accordingly be
176,815,118 Ordinary Shares that 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 Company under the FCA's Disclosure and Transparency
Rules.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
* * ENDS * *
For further information visit www.prospex.energy or contact the
following:
Mark Routh Prospex Energy PLC Tel: +44 (0) 20 7236
1177
Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer 3494
Colin Rowbury Novum Securities Limited Tel: +44 (0) 20 7399
Jon Belliss 9427
Duncan Vasey Peterhouse Capital Limited Tel: +44 (0) 20 7220
9797
Susie Geliher St Brides Partners Ltd Tel: +44 (0) 20 7236
Catherine Leftley 1177
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