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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Prospex Energy Plc | AQSE:PXEN.GB | Aquis Stock Exchange | Ordinary Share | GB00BMFZVZ53 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.75 | 8.00 | 9.50 | 9.35 | 7.45 | 8.75 | 362,848 | 16:29:57 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPXEN
RNS Number : 1901N
Prospex Energy PLC
28 September 2021
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
28 September 2021
Prospex Energy PLC
Conversion of Loan Notes, Warrants and TVR
Prospex Energy PLC, ('Prospex' or the 'Company') the AIM quoted investment company (AIM:PXEN) focused on European gas and power projects, announces that it has issued a total of 10,071,523 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares"), following the conversion of warrants over Ordinary Shares ("Warrants") and the conversion of convertible loan notes granted in December 2020 (the "2020 CLNs").
1,338,282 Warrants have been converted by one individual and one organisation who were granted the Warrants pursuant to a warrant agreement dated 23 December 2020 and as announced by the Company on 24 December 2020. The warrants have been exercised at 2.25p and therefore the Company has received GBP19.025.99 as a result of the conversion. The Company has issued 1,338,282 new Ordinary Shares as a result of the conversion.
The conversion of the 2020 CLNs will cancel a total of GBP179,031.56 convertible loan notes, thus improving the Company's balance sheet by that amount. The 2020 CLNs are being converted at a price of 2.05p and were issued to six individuals, two organisations and a pension fund pursuant to a loan note instrument dated 23 December 2020 and also announced by the Company on 24 December 2020. Following the conversion, GBP36,806.69 of the 2020 CLNs issued pursuant to the same instrument are outstanding. The Company has issued 8,733,241 new Ordinary Shares as a result of the conversion. As part of the 2020 CLN conversion the accrued interest since 23 December 2020 of GBP4,359.94 will be paid in cash to the loan note holders.
Two of the Company's directors are converting all of their 2020 CLNs (one via a SIPP). As they are Persons Discharging Managerial Responsibility, ('PDMR'), the required PDMR forms are set out below this announcement.
Admission to Trading
The Company has today applied to the London Stock Exchange for admission of, in aggregate, 10,071,523 new Ordinary Shares to trading on AIM ('Admission'). Admission is expected to occur on or around 1 October 2021. On 30 September 2021 there will be 165,443,312 Ordinary Shares in issue and 7,361 shares held in Treasury. Following Admission, there will be 175,514,835 Ordinary Shares in issue. Deducting the 7,361 held in Treasury there will accordingly be 175,507,474 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.
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.
* * ENDS * *
For further information visit www.prospex.energy or contact the following:
Mark Routh Prospex Energy PLC Tel: +44 (0) 20 7236 1177 Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409 Ritchie Balmer 3494 Colin Rowbury Novum Securities Limited Tel: +44 (0) 20 7399 Jon Belliss 9427 Duncan Vasey Peterhouse Capital Limited Tel: +44 (0) 20 7220 9797 Susie Geliher St Brides Partners Ltd Tel: +44 (0) 20 7236 Catherine Leftley 1177
PDMR Notification
1. Details of the person discharging managerial responsibilities / person closely associated a) Name William Smith -------------------------------- ------------------------------------- 2. Reason for the Notification ----------------------------------------------------------------------- a) Position/status Director of the Company -------------------------------- ------------------------------------- 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 Prospex Energy plc -------------------------------- ------------------------------------- Identification code GB00BMFZVZ53 -------------------------------- ------------------------------------- b) Nature of the Transaction Conversion of Loan Notes -------------------------------- ------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) 2.05 pence 1,312,359 ---------- -------------------------------- ------------------------------------- d) Aggregated information 1,312,359 Aggregated volume Price 2.05 pence -------------------------------- ------------------------------------- e) Date of the transaction 28 September 2021 -------------------------------- ------------------------------------- f) Place of the transaction London -------------------------------- -------------------------------------
PDMR Notification
1. Details of the person discharging managerial responsibilities / person closely associated a) Name The personal SIPP of Richard Mays -------------------------------- ------------------------------------- 2. Reason for the Notification ----------------------------------------------------------------------- a) Position/status Director of the Company -------------------------------- ------------------------------------- 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 Conversion of Loan Notes -------------------------------- ------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) 2.05 pence 653,822 ---------- -------------------------------- ------------------------------------- d) Aggregated information 653,822 Aggregated volume Price 2.05 pence -------------------------------- ------------------------------------- e) Date of the transaction 28 September 2021 -------------------------------- ------------------------------------- f) Place of the transaction London -------------------------------- -------------------------------------
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(END) Dow Jones Newswires
September 28, 2021 02:24 ET (06:24 GMT)
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