Dividend in specie in Atome Energy PLC
24/12/2021 06:59
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RNS Number : 6901W President Energy PLC 24 December 2021
24 December 2021
PRESIDENT ENERGY PLC
("President" or the "Company")
Dividend in specie in Atome Energy PLC
Important information
President Energy (AIM: PPC), the energy company with a diverse portfolio of
energy assets provides an update in relation to the distribution by way of
dividend in specie of its holding in Atome Energy PLC ("Atome").
Dividend in specie
On 17 December 2021, the Company published details confirming that
shareholders would receive
1 Ordinary Share in Atome for every 169 Ordinary Shares in President held on
the Record Date.
Shareholders located in USA, Australia, Canada, Japan, South Africa, New
Zealand ("Restricted Territories") are ineligible to receive Ordinary Shares
in Atome. In such cases, these shares will be transferred to Atome's broker
for orderly disposal in the market with any proceeds (after deduction of
commissions and fees) remitted to the relevant shareholders. The disposal is
expected to take place as soon as reasonably practicable following Admission
with remittances by cheque immediately after.
Contact:
President Energy PLC +44 (0) 207 016 7950
Nikita Levine, Investor Relations info@presidentpc.com
finnCap (Nominated Advisor and broker) +44 (0) 207 220 0500
Christopher Raggett, Tim Harper
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 the Puesto Flores, Estancia Vieja,
Puesto Prado and Las Bases Concessions, and Angostura exploration contract,
all of which are situated in the Río Negro Province in the Neuquén Basin
of Argentina 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.
Atome Energy is the green hydrogen and ammonia subsidiary of President Energy
PLC with intended operations in the Americas and Europe and a targeted
separate listing on the London Stock Exchange market later in 2021.
With a strong strategic and institutional base of support, including the
international commodity trader and logistics company Trafigura, an in-country
management team as well as the Chairman whose interests as the largest
shareholder are aligned to those of its shareholders, President Energy gives
UK investors access to an energy growth story combined with world class
standards of corporate governance, environmental and social responsibility.
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for
the release of this announcement on behalf of the Company was Peter Levine,
Chairman.
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