Plutus PowerGen PLC Issue of Equity (6051F)

TIDMPPG

RNS Number : 6051F

Plutus PowerGen PLC

16 July 2019

Plutus PowerGen Plc / Ticker: PPG / Index: AIM

16 July 2019

PLUTUS POWERGEN PLC

("Plutus", the "Group" or the "Company")

Issue of Equity

Plutus PowerGen (AIM: PPG), the AIM quoted power company focused on the development and operation of flexible energy generation ("FlexGen") projects in the UK, announces that it has agreed to issue 10,909,090 new ordinary shares of 0.1p each ("Ordinary Shares") (the "Fee Conversion Shares") to certain advisers of the Company in lieu of professional services provided to the Company and 36,363,636 new ordinary shares to the convertible loan note holder in satisfaction of the outstanding GBP100,000 of unsecured convertible loan notes originally issued by the Company on 18 December 2014 (the "Debt Conversion Shares").

The Fee Conversion Shares and Debt Conversion Shares have been issued at a price of 0.275p per share being the mid-market closing price on 15 July 2019.

Application will be made to the London Stock Exchange for a total of 47,272,726 Ordinary Shares to be admitted to trading on AIM and it is expected that such admission will occur at 8.00 a.m. on 22 July 2019.

Following Admission, the total number of issued Ordinary Shares in the Company will be 872,534,994 ordinary shares and consequently the total number of voting rights in the Company will be 872,534,994. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in the share capital of the Company under the Disclosure and Transparency Rules.

**ENDS**

For further information, please visit www.plutuspowergen.com, or contact:

 
                                                 [phone] 
 Plutus PowerGen Plc                              6598 
 Charles Tatnall, Executive Chairman 
 
 Allenby Capital Limited (Nominated Adviser      [phone] 
  and Joint Broker)                               5656 
 Nick Athanas 
  James Hornigold 
 
 Turner Pope Investments (TPI) Limited (Joint    [phone] 
  Broker)                                         4120 
 Andy Thacker 
 
                                                 [phone] 
 St Brides Partners Limited (Financial PR)        1177 
 Isabel de Salis 
 
 

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.

END

IOELLFSDDRIELIA

(END) Dow Jones Newswires

July 16, 2019 02:00 ET (06:00 GMT)