REG - EnergyPathways PLC - Issue of Equity

EnergypathwaysAnnouncement

07/04/2025 14:45

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RNS Number : 9709D  EnergyPathways PLC  07 April 2025

7 April 2025

EnergyPathways plc

 

("EnergyPathways" or the "Company")

 

Issue of Equity

 

EnergyPathways plc (AIM: EPP), an integrated energy transition company,
announces the issue, on 4 April 2025, of a total of 2,395,517 new ordinary
shares of 1 pence each in the Company ("New Ordinary Shares") in accordance
with pre-existing arrangements with a former director, Mr Stephen West, who
resigned from the Board on 28 February 2025.

 

881,250 New Ordinary Shares have been issued to Cresthaven Investments Pty Ltd
ATF Bellini Trust ("Cresthaven"), a company through which Mr West holds his
Ordinary Shares, at a value of 4p per share, representing £35,250. This is in
accordance with an agreement between Cresthaven and the Company at the time of
its admission to trading on AIM ("IPO"), whereby the £35,250 of outstanding
fees owed to Mr West at that time would be settled by the later issue of
Ordinary Shares at the lower of the issue price on IPO (being 4 pence per
Ordinary Share) or the prevailing market price at the time of issue.

566,767 New Ordinary Shares have been issued in lieu of cash in respect of
£17,225.81 of fees owed to Mr West for his services as a director, in
accordance with the agreement between the Company and Mr West made at the time
of IPO and disclosed in the Company's AIM admission document.  These fees
have been accrued by the Company since IPO, calculated monthly based on the
VWAP of the Company's Ordinary Shares. This represents a value of
approximately 3.04p per New Ordinary Share.

947,500 New Ordinary Shares have been issued at an exercise price of 4p in
respect of the exercise of options held by Mr West. £37,900 has been paid to
the Company by Mr West in respect of this exercise.

 

Admission and Total Voting Rights

Application will be made for the New Ordinary Shares to be admitted to trading
on AIM, which is expected to occur on or around 10 April 2025 ("Admission").
The New Ordinary Shares will rank pari passu in all respects with the
Company's existing Ordinary Shares currently traded on AIM and together will
represent approximately 1.39% of the enlarged issued share capital of the
Company.

Following Admission, the Company's issued share capital will comprise
171,887,026 Ordinary Shares. This number will represent the total voting
rights in the Company and may be used by shareholders as the denominator for
the calculation by which they can 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.

Investor Engagement with EnergyPathways

Engage with us by asking questions, watching video summaries and seeing what
other shareholders have to say. Navigate to our Interactive Investor website
here: https://energypathways.uk/link/4r8k7e
(https://energypathways.uk/link/4r8k7e)

 

Enquiries:

 

 EnergyPathways                                        Tel: +44 (0)207 466 5000,

Ben Clube / Max Williams

                                                     c/o Burson Buchanan (Financial PR)

                                                       Email : info@energypathways.uk
 Cairn Financial Advisers LLP (Nominated Adviser)      Tel: +44 (0)20 7213 0880

 Jo Turner / Louise O'Driscoll / Sandy Jamieson

 SP Angel Corporate Finance LLP (Broker)               Tel: +44 (0)20 3470 0470

 Richard Hail / Adam Cowl

 Global Investment Strategy UK Limited (Joint Broker)  Tel: +44 (0)20 7048 9000
 Callum Hill / James Sheehan

 

For further information on EnergyPathways visit www.energypathways.uk
(http://www.energypathways.uk/)  and @energy_pathways on X (formerly
Twitter).

 

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