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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| President Energy Plc | LSE:PPC | London | Ordinary Share | GB00BMT80K89 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 155.00 | 150.00 | 160.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPPC
RNS Number : 8484Q
President Energy PLC
02 December 2016
2 December 2016
PRESIDENT ENERGY PLC
("President", "the Company" or "President Energy")
RESULT OF GENERAL MEETING
President Energy (AIM: PPC), is pleased to announce that all resolutions put to shareholders at the Company's General Meeting held earlier today were duly passed.
Application has been made to the London Stock Exchange for 230,198,878 Placing Shares, 37,474,240 Subscription Shares and 160,603,871 Loan Conversion Shares to be admitted to trading on AIM. It is expected that Admission will become effective on 5 December 2016 and it is expected that dealings for normal settlement in the new Ordinary Shares will commence trading at 8.00 am on 5 December 2016.
The new Ordinary Shares will rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive dividends and other distributions declared following Admission.
Total Voting Rights
Following the issue of the Placing Shares, Subscription Shares and Loan Conversion Shares the Company will have 953,597,617 ordinary shares of 1 pence each in issue. The figure of 953,597,617 may be used by shareholders as the denominator with which they can determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Related Party Transaction
The subscription by International Finance Corporation ("IFC") in the Placing at the Placing Price is classified as a related party transaction under the AIM Rules. The Directors consider, having consulted with Peel Hunt in its capacity as the Company's nominated adviser, that the terms of IFC's participation in the Placing are fair and reasonable insofar as Shareholders are concerned.
Terms in this announcement have the meaning given to them in the Circular issued in connection with the Fundraising and Loan Restructuring on 16 November 2016.
Contact:
President Energy PLC Peter Levine, Chairman +44 (0) 207 016 7950 Miles Biggins, COO +44 (0) 207 016 7950 Peel Hunt LLP (Nominated Advisor & Joint Broker) Richard Crichton, Ross Allister, Chris Burrows +44 (0) 207 418 8900 BMO Capital Markets (Joint Broker) Jeremy Low, Neil Haycock, +44 (0) 207 236 Tom Rider, Jenny Wyllie 1010 Vigo Communications Chris McMahon Patrick D'Ancona +44 (0)20 7830 9700
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 02, 2016 08:00 ET (13:00 GMT)
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