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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Proton Motor Power Systems Plc | LSE:PPS | London | Ordinary Share | GB00BP83GZ24 | ORD 0.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.45 | 2.30 | 2.60 | 2.45 | 2.45 | 2.45 | 19,332 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Elec Indl Apparatus, Nec | 2.09M | -18.9M | -0.0122 | -2.01 | 38.01M |
From Apr 2019 to Apr 2024
TIDMPPS
RNS Number : 5299P
Proton Power Systems PLC
29 May 2018
Hot Features
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29 May 2018
Proton Power Systems plc
("Proton" or the "Company")
Loan Extension
Proton Power Systems plc (AIM: PPS), the designer, developer and producer of fuel cells and fuel cell electric hybrid systems, announces that it has successfully agreed to increase the existing loan facility with Mr. Falih Nahab and his holding company, Roundstone Properties Limited ("Roundstone"), from EUR28 million to EUR34.5 million.
Mr Falih Nahab is the principal shareholder in Proton, through Roundstone, and is the brother of Dr. Faiz Nahab, the company's CEO. The increased facility will be used to satisfy the Company's working capital needs.
Related Party Transaction
Mr Falih Nahab is indirectly, via Roundstone Properties Limited, a substantial shareholder (as defined in the AIM Rules) of the Company. The entering into the loan agreement with Mr Falih Nahab is therefore classified as a transaction with a related party for the purposes of the AIM Rules. In accordance, therefore, with the AIM Rules, the directors of the Company, having consulted with the Company's nominated adviser, Stockdale Securities Limited, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
For further information:
Proton Power Systems plc
Dr Faiz Nahab, CEO
Helmut Gierse, Chairman
Sebastian Goldner, Director Customer
Project Management and Service
Roman Kotlarzewski, Group FD Tel: +49 89 1276265-81
Manfred Limbrunner, Director Sales
and Marketing
www.protonpowersystems.com
Stockdale Securities Limited
Nominated adviser and broker Tel: +44 (0) 20 7601
6100
Antonio Bossi / David Coaten www.stockdalesecurities.com
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 rns@lseg.com or visit www.rns.com.
END
MSCLIFVAELIAFIT
(END) Dow Jones Newswires
May 29, 2018 05:40 ET (09:40 GMT)
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