Path Investments plc Subscription for GBP55,000 of Convertible Loan Stock (4343H)

TIDMPATH

RNS Number : 4343H

Path Investments plc

03 December 2020

Path Investments plc

("Path" or the "Company")

Subscription for GBP55,000 of Convertible Unsecured Loan Stock

Path Investments plc (TIDM: PATH) , the energy and natural resources investment company, announces that certain investors, including directors of the Company, have subscribed for GBP55,000 of the Company's 2018 nominal convertible unsecured loan stock instrument, as described in the Company's 2018 Annual Report.

The directors who have participated are Brent Fitzpatrick and Jack Allardyce, who have each subscribed for GBP5,000. In addition, Ocean Park Developments, a company ultimately owned by Mr Fitzpatrick has subscribed for GBP5,000. The funds raised will be applied towards the costs of the Company's proposed re-Admission, as announced on 5 November 2020.

The notification set out below, made pursuant to Article 19(3) of the Market Abuse Regulation, provides further details.

 
 1.    Details of Director/PDMR 
 (a)   Name                         Brent Fitzpatrick 
      ---------------------------  ------------------------------------------------------- 
 2.    Reason for notification 
      ------------------------------------------------------------------------------------ 
 (b)   Position / status                         Chairman 
      ---------------------------  ------------------------------------------------------- 
 (c)   Initial notification         Initial notification 
        / amendment 
      ---------------------------  ------------------------------------------------------- 
 3.    Details of the Issuer 
      ------------------------------------------------------------------------------------ 
 (a)   Name                         Path Investments plc 
      ---------------------------  ------------------------------------------------------- 
 (b)   LEI                          21380058VQBP76M7TN11 
      ---------------------------  ------------------------------------------------------- 
 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 transaction(s) 
        have been conducted 
      ------------------------------------------------------------------------------------ 
 (a)   Description of               Ordinary shares of 0.1 pence each 
        the financial instrument,    ISIN GB00BYQD5059 
        type of instrument,          PATH 
        Identification 
        code 
      ---------------------------  ------------------------------------------------------- 
 (b)   Nature of the transaction    Subscription pursuant to the Company's 
                                     2018 nominal convertible unsecured loan 
                                     stock instrument 
      ---------------------------  ------------------------------------------------------- 
 (c)   Price(s) and volume                                     Price                Volume 
                                                                Nil                  n/a 
      ---------------------------  ------------------------------------------------------- 
 (d)   Aggregated information       N/A (single transaction) 
      ---------------------------  ------------------------------------------------------- 
 (e)   Date of the transaction      2.12. 2020 
      ---------------------------  ------------------------------------------------------- 
 (f)   Place of the transaction     Outside of trading venue 
      ---------------------------  ------------------------------------------------------- 
 
 
 1.    Details of Director/PDMR 
 (a)   Name                         Jack Allardyce 
      ---------------------------  ------------------------------------------------------- 
 2.    Reason for notification 
      ------------------------------------------------------------------------------------ 
 (b)   Position / status                         Executive Director 
      ---------------------------  ------------------------------------------------------- 
 (c)   Initial notification         Initial notification 
        / amendment 
      ---------------------------  ------------------------------------------------------- 
 3.    Details of the Issuer 
      ------------------------------------------------------------------------------------ 
 (a)   Name                         Path Investments plc 
      ---------------------------  ------------------------------------------------------- 
 (b)   LEI                          21380058VQBP76M7TN11 
      ---------------------------  ------------------------------------------------------- 
 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 transaction(s) 
        have been conducted 
      ------------------------------------------------------------------------------------ 
 (a)   Description of               Ordinary shares of 0.1 pence each 
        the financial instrument,    ISIN GB00BYQD5059 
        type of instrument,          PATH 
        Identification 
        code 
      ---------------------------  ------------------------------------------------------- 
 (b)   Nature of the transaction    Subscription pursuant to the Company's 
                                     2018 nominal convertible unsecured loan 
                                     stock instrument 
      ---------------------------  ------------------------------------------------------- 
 (c)   Price(s) and volume                                     Price                Volume 
                                                                Nil                  n/a 
      ---------------------------  ------------------------------------------------------- 
 (d)   Aggregated information       N/A (single transaction) 
      ---------------------------  ------------------------------------------------------- 
 (e)   Date of the transaction      2.12.2020 
      ---------------------------  ------------------------------------------------------- 
 (f)   Place of the transaction     Outside of trading venue 
      ---------------------------  ------------------------------------------------------- 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

For further information please contact:

 
 Path Investments plc                            C /O IFC 
 Christopher Theis 
 
 IFC Advisory Limited (Financial PR & IR)        020 3934 6630 
 Tim Metcalfe 
 Zach Cohen 
 
 Grant Thornton UK LLP (Financial Adviser) 
 Jamie Barklem                                   020 7865 2692 
 Harrison Clarke                                 020 7184 4384 
 
 Keith, Bayley, Rogers & Co. Limited (Broker) 
                                                 07776 30 22 
 Brinsley Holman                                  28 
                                                 07506 43 41 
 Graham Atthill-Beck                              07 
 

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December 03, 2020 04:44 ET (09:44 GMT)