Plutus PowerGen PLC Director Dealing/Extension of Warrants (8395F)
01 August 2016 - 8:47PM
UK Regulatory
TIDMPPG
RNS Number : 8395F
Plutus PowerGen PLC
01 August 2016
Plutus PowerGen plc / Ticker: PPG / Index: AIM
1 August 2016
Plutus PowerGen plc ('PPG' or 'the Company')
Warrant Extension
Plutus PowerGen plc, the AIM listed power company focused on the
development, construction and operation of flexible stand-by
electricity generation in the UK, announces the extension to the
expiry date of unexercised warrants held by Charles Tatnall,
Executive Chairman of PPG, and James Longley, Chief Financial
Officer of PPG, to 22 August 2017.
The warrants referred to above were granted on 5 August 2014
over a total of 40,000,000 existing ordinary shares of 0.1 pence
each ("Ordinary Shares") exercisable at a price of 0.9 pence per
Ordinary Share up until 22 August 2016 ("Warrants"). Mr Tatnall and
Mr Longley were each granted 20,000,000 Warrants on 5 August 2014
and each exercised 10,000,000 Warrants on 1 February 2016.
Accordingly, Mr Tatnall and Mr Longley each now hold 10,000,000
Warrants exercisable at 0.9 pence per Ordinary Share up until 22
August 2017.
Warrants Extended
1. Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------
a) Name: Charles Tatnall
--- --------------------------------- ---------------------------
2. Reason for the notification
--- --------------------------------------------------------------
a) Position/status: Chairman
--- --------------------------------- ---------------------------
b) Initial notification/amendment: Initial notification
--- --------------------------------- ---------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- --------------------------------------------------------------
a) Name: Plutus PowerGen
plc
--- --------------------------------- ---------------------------
b) LEI:
--- --------------------------------- ---------------------------
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 Share options
instrument, type of instrument: over ordinary
shares of 0.1
Identification code: pence
GB00B1GDWB47
--- --------------------------------- ---------------------------
b) Nature of the transaction: Extension of
exercise period
for options over
ordinary shares
--- --------------------------------- ---------------------------
c) Price(s) and volume(s): Prices(s) Volume(s)
----------- -----------
0.9 pence 10,000,000
----------- -----------
--- --------------------------------- ---------------------------
d) Aggregated information: Single transaction
as in 4 c) above
Aggregated volume: Prices(s) Volume(s)
----------- -----------
Price: 0.9 pence 10,000,000
----------- -----------
--- --------------------------------- ---------------------------
e) Date of transaction: 29 July 2016
--- --------------------------------- ---------------------------
f) Place of transaction Outside a trading
venue
--- --------------------------------- ---------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- --------------------------------------------------------------
a) Name: James Longley
--- --------------------------------- ---------------------------
2. Reason for the notification
--- --------------------------------------------------------------
a) Position/status Chief Financial
Officer
--- --------------------------------- ---------------------------
b) Initial notification/amendment: Initial notification
--- --------------------------------- ---------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--- --------------------------------------------------------------
a) Name: Plutus PowerGen
plc
--- --------------------------------- ---------------------------
b) LEI:
--- --------------------------------- ---------------------------
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 Share options
instrument, type of instrument: over ordinary
shares of 0.1
Identification code: pence
GB00B1GDWB47
--- --------------------------------- ---------------------------
b) Nature of the transaction: Extension of
exercise period
for options over
ordinary shares
--- --------------------------------- ---------------------------
c) Price(s) and volume(s):
Prices(s) Volume(s)
----------- -----------
0.9 pence 10,000,000
----------- -----------
--- --------------------------------- ---------------------------
d) Aggregated information: Single transaction
as in 4 c) above
Aggregated volume: Prices(s) Volume(s)
----------- -----------
Price: 0.9 pence 10,000,000
----------- -----------
--- --------------------------------- ---------------------------
e) Date of transaction: 29 July 2016
--- --------------------------------- ---------------------------
f) Place of transaction Outside a trading
venue
--- --------------------------------- ---------------------------
**ENDS**
For further information, please visit www.plutuspowergen.com, or
contact:
Charles Tatnall Plutus PowerGen Plc Tel: +44 (0)
20 3705 8350
---------------- -------------------- --------------
Phil Stephens Plutus PowerGen Plc Tel: +44 (0)
20 3705 8352
---------------- -------------------- --------------
Ewan Leggat SP Angel Corporate Tel: +44 (0)
Finance LLP 20 3470 0470
---------------- -------------------- --------------
Laura Harrison SP Angel Corporate Tel: +44 (0)
Finance LLP 20 3470 0470
---------------- -------------------- --------------
Elisabeth St Brides Partners Tel: +44 (0)
Cowell Ltd 20 7236 1177
---------------- -------------------- --------------
Hugo de Salis St Brides Partners Tel: +44 (0)
Ltd 20 7236 1177
---------------- -------------------- --------------
Notes to Editors
Plutus PowerGen plc is an AIM listed company focused on the
development, construction and operation of flexible stand-by power
generation sites in the UK. At present, the market dynamics for
flexible power generation are positive as a result of the continued
downward pressure on capacity available to National Grid to balance
supply and demand, leading to their announcements about possible
power shortages over the next few years.
Flexible Power generators such as PPG offer a viable and timely
solution to the power capacity shortfall in the UK. To this end,
PPG is initially focusing on delivering 200MW of capacity by the
end of 2017 and currently has a project pipeline of potential
development sites with 700MW of power generation capacity.
PPG has a straightforward multi-revenue stream model with large
and stable counter-parties and is using project/EIS funding through
SPVs to finance construction of the generation assets. This
structure has the benefit of limiting dilution to plc shareholders
as the assets are financed and built.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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