Ncondezi Energy Limited Director/PDMR Shareholding (9966U)

TIDMNCCL

RNS Number : 9966U

Ncondezi Energy Limited

30 October 2017

News Release

Change to Substantial Shareholding and PDMR Shareholding

30 October 2017: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) was informed on 27 October 2017, that Kulczyk Investments S.A. ("KI"), an indirect shareholder of 11.7% of the Company's ordinary shares through its subsidiaries, Polenergia International S.àr.l. ("Polenergia"), Kulczyk Holding S.A. ("KH") and Leganes Limited ("Leganes"), had completed a restructuring of its shareholding in the Company's ordinary shares on 26 October 2017.

KI has completed a restructuring of its shareholding in the Company so that all its shares are now held by Polenergia. This has been achieved by completion of the following intra-group share transfers:

   --      The transfer of 2,220,881 of Ncondezi's shares from KH to Polenergia; and 
   --      The transfer of 6,136,677 of Ncondezi's shares from Leganes to Polenergia. 

Polenergia now holds a total of 29,111,719 ordinary shares in the Company representing 11.7% percent of the issued share capital of the Company. However, as Polenergia is a wholly owned subsidiary of KI, there is no ultimate change in the beneficial ownership for the ordinary shares.

Jacek Glowacki, who is a non-executive director of the Company, is Chief Executive Officer and Chairman of Polenergia.

 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  ------------------------------------------------------------------- 
 a)   Name                       Jacek Glowacki 
---  -------------------------  ---------------------------------------- 
 2    Reason for the notification 
       Transfer of 8,357,558 ordinary shares to Polenergia. 
       Mr Glowacki is Chief Executive Officer and 
       Chairman of Polenergia and a Non-executive 
       director of the Company. 
---  ------------------------------------------------------------------- 
 a)   Position/status            Non-Executive Director 
---  -------------------------  ---------------------------------------- 
 b)   Initial                    Initial notification 
       notification/ 
       Amendment 
---  -------------------------  ---------------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------------- 
 a)   Name                       Ncondezi Energy Limited 
---  -------------------------  ---------------------------------------- 
 b)   LEI                        2138003W75PP9STE9J18 
---  -------------------------  ---------------------------------------- 
 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                Ncondezi Energy Limited ordinary shares 
       of 
       the 
       financial 
       instrument,                VGG640631039 
       type 
       of 
       instrument 
 
       Identification 
       code 
---  -------------------------  ---------------------------------------- 
 b)   Nature                     Transfer of shares 
       of 
       the 
       transaction 
---  -------------------------  ---------------------------------------- 
 c)   Price(s)                     Price(s)    Volume(s) 
       and                         ----------  ----------- 
       volume(s) 
                                     N/A         8,357,558 
                                   ----------  ----------- 
---  -------------------------  ---------------------------------------- 
 d)   Aggregated 
       information 
 
        *    Aggregated volume     8,357,558 
 
                                   N/A 
 
        *    Price 
---  -------------------------  ---------------------------------------- 
 e)   Date                       26 October 2017 
       of 
       the 
       transaction 
---  -------------------------  ---------------------------------------- 
 f)   Place                      Off market transfer 
       of 
       the 
       transaction 
---  -------------------------  ---------------------------------------- 
 

Enquiries

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

 
                                               [phone] 
 Ncondezi Energy:     Hanno Pengilly            3566 
 
   Liberum Capital 
   Limited: 
   NOMAD & Joint      Neil Elliot / Richard    [phone] 
   Broker              Crawley                  2000 
 Novum Securities 
  Limited                                      [phone] 
  Joint Broker        Colin Rowbury             9427 
 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 30, 2017 10:30 ET (14:30 GMT)