Prospex Energy PLC Conversion of Loan Notes and TVR (1445H)
26 July 2023 - 4:00PM
UK Regulatory
TIDMPXEN
RNS Number : 1445H
Prospex Energy PLC
26 July 2023
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and
Gas
26 July 2023
Prospex Energy PLC
('Prospex' or the 'Company')
Conversion of Loan Notes and TVR
Prospex Energy PLC, the AIM-quoted investment company focused on
European gas and power projects, announces that it has received
notices to convert an aggregate of GBP103,307.35 in two convertible
loan notes in exchange for the issue of 2,430,762 new ordinary
shares of 0.1p each in the Company ("Ordinary Shares").
The abovementioned convertible loan notes were issued in July
2022 and are convertible at 4.25p per share pursuant to a
Convertible Loan Note Deed dated 18 July 2022.
Admission to Trading and Total Voting Rights
The Company has applied to the London Stock Exchange for the
admission of 2,430,762 new Ordinary Shares to trading on AIM
('Admission') as a result of the above conversion. Admission is
expected to occur on or around 31 July 2023. There are currently
291,326,390 Ordinary Shares in issue. Following Admission there
will be a total of 293,757,152 Ordinary Shares in issue. This will
be the number of 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.
The two loan note conversions are being made by directors of the
Company, William Smith and Alasdair Buchanan. Both are therefore
deemed to be 'Persons Discharging Managerial Responsibilities' or
'PDMRs'.
Declaration of Interests
The shares to be issued as part of this loan note conversion are
set out below:
William Smith 1,216,827
Alasdair Buchanan 1,213,935
----------
Total 2,430,762
----------
Both William Smith the Chairman of the Company and Alasdair
Buchanan a non-executive director of the Company have indicated
their intention to hold their shares after this conversion.
Shares currently held by directors: -
Director Number of Shares % of current
share capital
William Smith 6,447,517 2.21%
----------------- ---------------
Alasdair Buchanan 3,428,571 1.18%
----------------- ---------------
Mark Routh 2,639,960 0.91%
----------------- ---------------
Totals 12,516,048 4.30%
----------------- ---------------
Directors' total interest in shares after this conversion: -
Director Number of Shares % of share
capital following
Admission
William Smith 7,664,344 2.61%
----------------- -------------------
Alasdair Buchanan 4,642,506 1.58%
----------------- -------------------
Mark Routh 2,639,960 0.90%
----------------- -------------------
Total 14,946,810 5.09%
----------------- -------------------
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.
* *S * *
For further information visit www.prospex.energy or contact the
following:
Mark Routh Prospex Energy Tel: +44 (0) 20 7236
PLC 1177
Ritchie Balmer Strand Hanson Tel: +44 (0) 20 7409
Rory Murphy Limited 3494
------------------ --------------------
Jerry Keen Fox-Davies Tel: +44 (0) 20 3884
Capital Limited 7447
------------------ --------------------
Andrew Monk (Corporate Broking) VSA Capital Tel: +44 (0) 20 3005
Andrew Raca/Alex Cabral (Corporate Limited 5000
Finance)
------------------ --------------------
Ana Ribeiro / Susie Geliher St Brides Partners Tel: +44 (0) 20 7236
Limited 1177
------------------ --------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name William Smith
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Director
-------------------------------- --------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Prospex Energy Plc
-------------------------------- --------------------------------------
b) LEI 213800NY9RH8O1B72D27
-------------------------------- --------------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv)each place where transactions have
been conducted
------------------------------------------------------------------------
a) Description of the Financial Ordinary shares of 0.1p each in the
instrument, type of instrument share capital of the Prospex Energy
plc
-------------------------------- --------------------------------------
Identification code GB00BMFZVZ53
-------------------------------- --------------------------------------
b) Nature of the Transaction Issue of new ordinary shares pursuant
to conversion of convertible loan
notes
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
4.25 pence 1,216,827
----------
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 24 July 2023
-------------------------------- --------------------------------------
f) Place of the transaction AIM
-------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alasdair Buchanan
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Director
-------------------------------- --------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- --------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name Prospex Energy Plc
-------------------------------- --------------------------------------
b) LEI 213800NY9RH8O1B72D27
-------------------------------- --------------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv)each place where transactions have
been conducted
------------------------------------------------------------------------
a) Description of the Financial Ordinary shares of 0.1p each in the
instrument, type of instrument share capital of the Prospex Energy
plc
-------------------------------- --------------------------------------
Identification code GB00BMFZVZ53
-------------------------------- --------------------------------------
b) Nature of the Transaction Issue of new ordinary shares pursuant
to conversion of convertible loan
notes
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
4.25 pence 1,213,935
----------
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 24 July 2023
-------------------------------- --------------------------------------
f) Place of the transaction AIM
-------------------------------- --------------------------------------
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