President Energy PLC Argentinian Stock Exchange Secondary Listing (1229G)

TIDMPPC

RNS Number : 1229G

President Energy PLC

28 February 2018

28 February 2018

PRESIDENT ENERGY PLC

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

Process commenced for President Energy's Argentinian Stock Exchange secondary listing

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce that it has commenced the relevant processes to obtain a secondary listing of the Company's shares on The Bolsa de Comercio de Buenos Aires (BCBA)- the Argentinian Stock Exchange. The secondary listing is expected to take place towards the end of Q2 2018. It is intended that the primary listing of the Company will remain the AIM market of the London Stock Exchange.

Background to and reasons for the listing

President Energy's proposed secondary listing on the Argentinian Stock Exchange aims to increase the Company's international profile and improve liquidity by facilitating the growing investment demand in Argentina which has been supported by capital returns back into Argentina and international capital flows into Argentina. The MERVAL, the most important index of the Buenos Aires Stock Exchange, was up 72% in 2017.

Peter Levine, Chairman and CEO, commented:

"We have begun the process of becoming an Argentinian listed Company as a complement to our main listing in London.

"We are committed to significantly expanding our business in Argentina and are very positive about the Country's prospects.

"The proposed secondary listing will not only expand liquidity but importantly will expose President to a rapidly emerging, growing and vibrant audience consisting of both institutional and private investors domiciled at the epicentre of the Group's operations who are increasingly looking for companies which have world class standard of governance, environmental and social awareness combined with profitability, cash generation and excellent prospects".

Contact:

 
 President Energy PLC 
  Peter Levine, Chairman, Chief 
  Executive 
  Bruce Martin, Chief Financial 
  Officer                            [phone] 
 finnCap (Nominated Advisor 
  & Joint Broker) 
  Christopher Raggett, Scott 
  Mathieson, Andrew Burdis           [phone] 
 BMO Capital Markets (Joint 
  Broker) 
  Jeremy Low, Neil Haycock,          [phone] 
  Tom Rider                          1010 
 Camarco Financial PR 
  Billy Clegg, Owen Roberts, 
  Mercedes Valenzuela-Goldman        [phone] 
 

Notes to Editors

President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets. The Company currently has independently assessed 1P reserves over 15 MMboe and 2P reserves of more than 25 MMboe.

The Company has operated interests in the Puesto Flores and Estancia Vieja Concession, Rio Negro Province, in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. The Company is focused on growing production in the near term in Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.

President Energy's second largest shareholder is the IFC, part of the World Bank Group and is actively pursuing value accretive acquisitions of high quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support and an in-country management team, President Energy gives UK investors rare access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.

This announcement contains inside information for the purposes of article 7 of Regulation 596/2014

This information is provided by RNS

The company news service from the London Stock Exchange

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February 28, 2018 02:00 ET (07:00 GMT)