President Energy PLC Director/PDMR Shareholding (9523Q)

TIDMPPC

RNS Number : 9523Q

President Energy PLC

05 December 2016

5 December 2016

PRESIDENT ENERGY PLC

("President", "the Company" or "President Energy")

DIRECTOR/PDMR SHAREHOLDING

President Energy (AIM: PPC), the South American focussed oil and gas company with significant exploration and development opportunities in Paraguay and production assets in Argentina announces that, earlier today, it was informed that PLLG Investments Limited (a company controlled and beneficially owned by Peter Levine, the Chief Executive Officer and Executive Chairman) had acquired 181,616,211 new Ordinary Shares.

As announced on 15 November 2016, PLLG acquired an aggregate of 181,616,211 new Ordinary Shares pursuant to the Loan Restructuring and Fundraising, details of which are referred to in the table below.

Following the acquisition of these shares, PLLG now holds 304,404,547 Ordinary Shares, representing 31.92 per cent. of the existing issued Ordinary Share capital of the Company.

The announcement made on 15 November 2016 also referred to the fact that, pursuant to Peter Levine's continued commitment to donate to charitable causes, PLLG had undertaken to gift to an independent charitable trust and/or charities 20,000,000 of its holding of existing Ordinary Shares. Following the gifting of the 20,000,000 Ordinary Shares, which is expected to occur shortly, Peter Levine and PLLG will cease to hold any control over or interest in the voting rights attaching to those shares. PLLG is expected to hold 284,404,547 Ordinary Shares after the gifting of the shares (representing approximately 29.82 per cent. of the current issued Ordinary Share capital) and a further announcement will be made in due course in this regard. Pending the transfer of the 20,000,000 existing Ordinary Shares, PLLG and Peter Levine have undertaken not to exercise the voting rights attaching to 27,500,000 of the Ordinary Shares held by PLLG.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
----  -------------------------------------------------------------- 
 a)    Name                              Peter Levine 
----  --------------------------------  ---------------------------- 
 2     Reason for the notification 
----  -------------------------------------------------------------- 
 a)    Position/status                   PDMR (Director) 
----  --------------------------------  ---------------------------- 
 b)    Initial notification/Amendment    Initial Notification 
----  --------------------------------  ---------------------------- 
 3     Details of the issuer, emission allowance 
        market participant, auction platform, auctioneer 
        or auction monitor 
----  -------------------------------------------------------------- 
 a)    Name                              President Energy plc 
----  --------------------------------  ---------------------------- 
 b)    LEI                               - 
----  --------------------------------  ---------------------------- 
 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 1p 
        instrument, type of               each 
        instrument 
----  --------------------------------  ---------------------------- 
       Identification code               GB00B3DDP128 
----  --------------------------------  ---------------------------- 
 b)    Nature of the transaction         Acquisition of ordinary 
                                          shares 
----  --------------------------------  ---------------------------- 
 c)    Price(s) and volumes(s)           Price(s)      Volume(s) 
----  --------------------------------  ------------  -------------- 
                                             GBP0.06     181,616,211 
  --------------------------------------------------  -------------- 
 d)    Aggregated information            N/A (single transaction) 
----  --------------------------------  ---------------------------- 
  Aggregated volume                 N/A 
 --------------------------------  --------------------------------- 
  Price                             N/A 
 --------------------------------  --------------------------------- 
 e)    Date of the transaction           5 December 2016 
----  --------------------------------  ---------------------------- 
 f)    Place of the transaction          Outside of a trading 
                                          venue 
----  --------------------------------  ---------------------------- 
 

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                [phone] 
  Miles Biggins, COO                    [phone] 
 Peel Hunt LLP (Nominated 
  Advisor & Joint Broker) 
  Richard Crichton, Ross Allister, 
  Chris Burrows                         [phone] 
 BMO Capital Markets (Joint 
  Broker) 
  Jeremy Low, Neil Haycock,            [phone] 
  Tom Rider, Jenny Wyllie               1010 
 Vigo Communications 
  Chris McMahon 
  Patrick D'Ancona                    [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 05, 2016 04:45 ET (09:45 GMT)