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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 : 0818X
Prospex Energy PLC
31 December 2021
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
31 December 2021
Prospex Energy PLC
Loan Note Interest and Capital Repayments
Prospex Energy PLC, ('Prospex' or the 'Company') the AIM quoted investment company (AIM:PXEN) focused on European gas and power projects, provides the following financing update:
Highlights:
-- The Company has today repaid a total of GBP18,764.70 in scheduled capital repayments due on the Loan Note ("LN") issued in December 2018 (the "2018 LN").
-- The Company has also paid a total of GBP22,742.87 in interest due on the 2018 LN and the LN issued in 2021 (the "2021 LN"), in addition to the final interest payments due pursuant to the convertible loan note ("CLN") instrument dated 23 December 2020 (the "2020 CLN").
-- Capital and interest payments funded from existing cash resources.
Further detail:
The Company now has two outstanding Loan Notes (the 2018 LN and the 2021 LN) following the final conversion of the 2020 CLN as announced on 22 December 2021. Per the above, the final interest payments made today on the 2020 CLN totalled GBP1,116.03.
The 2018 LN had a total of GBP2,162.61 of interest and the scheduled capital repayments GBP18,764.70 paid to the holders today, which includes the Private Pension Plan of R & E Mays. Richard Mays is a Non-Executive Director of the Company. The next and final interest payment of GBP1,063.25 and capital repayment of GBP21,445.37 on the 2018 LN falls due on 30 June 2022, following which point the 2018 LN will have been fully paid down.
The 2021 LN (which was issued on 28 June 2021) had a total of GBP19,464.23 of interest paid to the holders today, which includes Non-Executive Chairman, William Smith. The interest is due every six months so the next interest payment falls due on 30 June 2022. The first capital repayment on this 2021 Loan Note of GBP107,226.93, being one-third of the loan, is due on 31 December 2022, with subsequent equal capital repayments due on 30 June 2023 and 31 December 2023.
Mark Routh, Prospex's CEO, commented:
"These interest payments and loan repayments have been made possible by the income generated by the El Romeral power plant in southern Spain in which Prospex owns a 49.9% share through its shareholding in Tarba Energía. We expect to be expanding the generating capacity at El Romeral during 2022 with the planned infill well drilling campaign, thereby boosting our income."
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
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December 31, 2021 01:59 ET (06:59 GMT)
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