Director Fundraise Participation to raise £80,000
26/07/2022 07:05
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RNS Number : 6903T Advance Energy PLC 26 July 2022
26 July 2022
Advance Energy plc
("Advance Energy" or the "Company")
Confirmation of Director Fundraise Participation to raise £80,000
Further to the announcement made earlier this morning, concerning the Placing
and Intended Director Participation, the Company can confirm that certain
directors of Advance ("Directors") have subscribed for 94,117,646 new Ordinary
Shares at the Issue Price and 94,117,646 Warrants as set out below (the
"Director Participation").
Defined terms are as set out in this morning's announcement unless otherwise
defined.
Application has been made to the London Stock Exchange for the 94,117,646 new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective and that dealings in respect of
the Director Participation Shares will commence at 8.00 a.m. on 29 July
2022. Following Admission, there will be 1,527,613,961 Ordinary Shares in
issue.
The following Directors have subscribed for Director Participation Shares
pursuant to the Director Participation for an investment, in aggregate, of
approximately £80,000. Their subscription for new Ordinary Shares and
Warrants is on the same terms and conditions as the Placing.
Director No of new Ordinary Shares subscribed for pursuant to the Director Resulting holding of Ordinary Shares Resulting % of Ordinary Share Capital following the Placing and Director No. of Warrants subscribed for pursuant to the Director Participation
Participation Participation
Mark Rollins 47,058,823 76,461,976 5.01% 47,058,823
Larry Bottomley 47,058,823 47,058,824 3.08% 47,058,823
The Director Participation by certain directors of Advance, as set out above,
constitutes a related party transaction under AIM Rule 13. The directors
deemed to be independent of the Director Participation, being Ross Warner and
Stephen Whyte, having consulted with Strand Hanson Limited, the Company's
Nominated Adviser, consider the terms of the Director Participation to be fair
and reasonable insofar as the Company's shareholders are concerned.
The Director Participation Shares have been subscribed for directly with the
Company (as to 47,058,823 Ordinary Shares) or through the Placing (as to
47,058,823 Ordinary Shares), subject only to Admission. On Admission, the
Company will have 1,527,613,961 Ordinary Shares in issue. The Company holds no
shares in treasury. Accordingly, the figure of 1,527,613,961 can be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company, under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
Enquiries:
Advance Energy plc +44 (0)1624 681 250
Larry Bottomley (Interim CEO)
Strand Hanson Limited (Financial and Nominated Adviser) +44 (0)20 7409 3494
Rory Murphy / James Harris / James Bellman
Buchanan (Public Relations) +44 (0)20 7466 5000
Ben Romney / Jon Krinks
Tennyson Securities Limited (Joint Broker) +44 (0)20 7186 9030
Peter Krens / Ed Haig-Thomas
Optiva Securities Limited (Joint Broker) +44 (0)20 3411 1881
Christian Dennis
This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 ("MAR") as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018. Upon publication of this
announcement, the inside information is now considered to be in the public
domain in accordance with the Company's obligations under Article 17 of MAR.
PDMR Disclosure
Ordinary Shares
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name 1. Mark Rollins
2. Larry Bottomley
2. Reason for the notification
a. Position/status 1. Non-Executive Chairman
2. Interim CEO
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Advance Energy plc
b. LEI 213800TZWOYU7UFZ5V63
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 instrument, type of instrument Identification Ordinary Shares of no par value
code
M00BKSCP798
b. Nature of the transaction Subscription for new Ordinary Shares
c. Price(s) and volume(s)
Director Price/share Volume (s)
1. M Rollins 0.085 pence 47,058,823
2. L. Bottomley 0.085 pence 47,058,823
d. Aggregated information
- Aggregated volume 94,117,646
- Price £0.00085 per Ordinary Share
e. Date of the transactions 26 July 2022
f. Place of the transactions London Stock Exchange's AIM Market (XLON)
d.
Aggregated information
- Aggregated volume
- Price
94,117,646
£0.00085 per Ordinary Share
e.
Date of the transactions
26 July 2022
f.
Place of the transactions
London Stock Exchange's AIM Market (XLON)
Warrants
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name 3. Mark Rollins
4. Larry Bottomley
2. Reason for the notification
a. Position/status 3. Non-Executive Chairman
4. Interim CEO
b. Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Advance Energy plc
b. LEI 213800TZWOYU7UFZ5V63
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 instrument, type of instrument Identification Warrants over Ordinary Shares of no par value
code
M00BKSCP798
b. Nature of the transaction Subscription for Warrants over Ordinary Shares
c. Price(s) and volume(s)
Director Exercise Price/share Volume (s)
1. M Rollins 0.13 pence 47,058,823
2. L. Bottomley 0.13 pence 47,058,823
d. Aggregated information
- Aggregated volume 94,117,646
- Price N/A
e. Date of the transactions 26 July 2022
f. Place of the transactions London Stock Exchange's AIM Market (XLON)
d.
Aggregated information
- Aggregated volume
- Price
94,117,646
N/A
e.
Date of the transactions
26 July 2022
f.
Place of the transactions
London Stock Exchange's AIM Market (XLON)
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