President Energy PLC PDMR Shareholding (3835C)

TIDMPPC

RNS Number : 3835C

President Energy PLC

07 February 2020

7 February 2020

PRESIDENT ENERGY PLC

("President" or the "Company")

PDMR Shareholding

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily South America, announces that, further to the Loan Conversion announced on 20 January 2020 and the participation of Peter Levine, Chairman and Chief Executive Officer, in said Loan Conversion, certain notifications for accordance with the requirements of the EU Market Abuse Regulation are required.

The notification is set out in the Appendix to this announcement.

Contact:

 
  President Energy PLC 
   Peter Levine, Chairman 
   Rob Shepherd, Group FD                  [phone] 
 finnCap (Nominated Advisor) 
  Christopher Raggett, Scott Mathieson    [phone] 
  Whitman Howard (Broker) 
   Hugh Rich, Grant Barker                  [phone] 
 Tavistock (Financial PR) 
  Nick Elwes, Simon Hudson                [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 has operated interests in Puesto Flores, Estancia Vieja, Puesto Prado, Angostura and Las Bases, Rio Negro Province and in the Puesto Guardian Concession, in the Noroeste Basin in NW 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.

The Group is also 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, including the IFC, part of the World Bank Group, an in-country management team as well as a Board whose interests are aligned to those of its shareholders, 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

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the circular sent to shareholders on 22 January 2020 unless the context requires otherwise.

 
 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                   Peter Levine 
     --------------------------------------  ------------------------------- 
 b)   Name of Person Closely Associated:      PLLG Investments Limited 
     --------------------------------------  ------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status:                        Chairman and Chief Executive 
                                               Officer 
     --------------------------------------  ------------------------------- 
 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:                                    213800MA2ZN22I4ITA79 
     --------------------------------------  ------------------------------- 
 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 each 
       instrument, type of instrument:         ISIN: GB00B3DDP128 
       Identification code: 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction:              Loan Conversion Shares 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s):                   Price(s)      Volume(s) 
                                                 4.04 pence    37,048,915 
                                                              ----------- 
     --------------------------------------  ------------------------------- 
 d)   Aggregated information:                 Single transaction as in 
        *    Aggregated volume:                4 c) above 
 
 
        *    Price: 
     --------------------------------------  ------------------------------- 
 e)   Date of the transaction:                06 February 2020 
     --------------------------------------  ------------------------------- 
 f)   Place of the transaction:               AIM, London Stock Exchange 
                                               (XLON) 
     --------------------------------------  ------------------------------- 
 

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

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February 07, 2020 09:19 ET (14:19 GMT)