Prospex Energy PLC Conversion of Warrants and TVR (8801H)

TIDMPXEN

RNS Number : 8801H

Prospex Energy PLC

11 April 2022

Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

11 April 2022

Prospex Energy PLC

('Prospex' or the 'Company')

Conversion of Warrants and TVR

Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, announces that it has received notice for the exercise of warrants to subscribe for 1,000,000 new ordinary shares of 0.1p each in the Company ("Ordinary Shares"). The warrants were issued to an individual pursuant to a warrant agreement dated 23 February 2022 which related to a placing announced by the Company in March 2021. The exercise price is 3 pence per New Ordinary Share. The Exercise of these warrants will generate proceeds of GBP30,000 for the Company.

Admission to Trading

The Company has applied to the London Stock Exchange for admission of 1,000,000 new Ordinary Shares to trading on AIM ('Admission'). Admission is expected to occur on or around 14 April 2022. There are currently 247,447,426 Ordinary Shares in issue and 7,361 shares held in Treasury.

Following Admission, the Company's enlarged share capital will be 248,447,426. Deducting the 7,361 held in Treasury there will accordingly be 248,440,065 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: [phone] 
                                                             1177 
Rory Murphy      Strand Hanson Limited       Tel: [phone] 
 Ritchie Balmer                                              3494 
Colin Rowbury    Novum Securities Limited    Tel: [phone] 
 Jon Belliss                                                 9427 
Duncan Vasey     Peterhouse Capital Limited  Tel: [phone] 
 Lucy Williams                                               9797 
Susie Geliher    St Brides Partners Ltd      Tel: [phone] 
 Ana Ribeiro                                                 1177 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGPUWPCUPPPGU

(END) Dow Jones Newswires

April 11, 2022 02:30 ET (06:30 GMT)