Plutus PowerGen PLC Directors Dealings (1820Z)

TIDMPPG

RNS Number : 1820Z

Plutus PowerGen PLC

24 May 2016

Plutus PowerGen Plc / Ticker: PPG / Index: AIM

24 May 2016

Plutus PowerGen plc ('PPG' or 'the Company')

Directors' Dealings

Plutus PowerGen plc, the AIM listed power company focused on the development, construction and operation of flexible stand-by electricity generation in the UK, reports that Philip Stephens and Paul Lazarevic, both Directors of the Company, each exercised call options over 10,000,000 existing ordinary shares of PPG at an exercise price of 0.75p per share on 20 May 2016. The call options were originally granted to Mr Stephens and Mr Lazarevic by Paternoster Resources plc ("Paternoster"), a shareholder of PPG, on 5 August 2014 and the exercise period of the call options was extended to 22 May 2016 by Paternoster on 19 February 2016

Mr Stephens and Mr Lazarevic both sold 6,250,000 existing ordinary shares of the Company at 0.75p per share on 22 May 2016, to enable them to fully exercise the call options. The effect of the share option exercises and share sale referred to above has increased both Mr Stephens' and Mr. Lazarevic's shareholding in the Company by a net 3,750,000 ordinary shares of PPG. The beneficial interest of Mr Stephens and Mr Lazarevic in the share capital of the Company is now as follows:

 
                                     New of 
                                    existing 
                                    ordinary                                        % interest 
                      Existing       shares                         Interest       in ordinary 
                      interest      acquired        Number           in the           share 
                     in ordinary    from call     of existing       ordinary         capital 
                       shares        option        ordinary          shares           of PPG 
     Director          of PPG       exercise        shares           of PPG         following 
                                                     sold          following       transactions 
                                                                  transactions 
----------------  --------------  -----------  --------------  ---------------  --------------- 
 Phil Stephens        88,012,823   10,000,000       6,250,000       91,762,823            13.27 
----------------  --------------  -----------  --------------  ---------------  --------------- 
 Paul Lazarevic       82,203,379   10,000,000       6,250,000       85,953,379            12.43 
----------------  --------------  -----------  --------------  ---------------  --------------- 
 
 
 Director             Total Number   Total % Holding 
                    of Shares Post 
                       Transaction 
----------------  ----------------  ---------------- 
 Phil Stephens          91,561,474              13.1 
----------------  ----------------  ---------------- 
 Paul Lazarevic         85,338,614              12.2 
----------------  ----------------  ---------------- 
 

**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 
----------------  --------------------  -------------- 
 Isabel de         St Brides Partners    Tel: +44 (0) 
  Salis             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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May 24, 2016 11:59 ET (15:59 GMT)