REG - Molecular Energies - Sale of certain shares in Atome Energy PLC

Molecular EnergiesAnnouncement

14/07/2023 07:00

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RNS Number : 9810F  Molecular Energies PLC  14 July 2023

14 July 2023

 

MOLECULAR ENERGIES PLC

("Molecular", "the Company", or "the Group")

 

Sale of certain shares in Atome Energy PLC ("ATOME")

 

Molecular Energies PLC (AIM: MEN), the international energy company, announces
a sale of shares in ATOME.

 

Molecular has disposed of 800,000 ordinary shares in ATOME at a price of
£1.00 per share. Reference is made to the announcement made today by ATOME in
this regard and in particular the identity of the purchaser.

 

The sale will generate a gain to the Group of £800,000.00 as the shares in
ATOME are held at nil cost in the Group accounts. As a result of the sale,
Molecular now holds 8,272,045 ordinary shares in ATOME representing 20.5% of
the entire issued share capital.

 

Peter Levine, Chairman, commented:

 

"This first sale of Molecular's investment in Atome not only is deliberately
made to bring in further serious investors into Atome, broadening the share
register, but it also demonstrates the value both already created by Molecular
in Atome and projected in the future by the planned spin off and IPO of our
Green House Capital division".

 

For more information please visit www.molecularenergiesplc.com
(http://www.molecularenergiesplc.com) or contact:

 

 Molecular Energies PLC                      +44 (0)20 7016 7950

 Peter Levine, Chairman                      info@molecularenergiesplc.com (mailto:info@molecularenergiesplc.com)

 Rob Shepherd, Group FD

 finnCap (Nominated Advisor and Broker)      +44 (0)20 7220 0500

 Christopher Raggett, George Dollemore

 Tavistock (Financial PR & IR)               +44 (0)20 7920 3150

 Simon Hudson, Nick Elwes, Charles Baister

 

 

Notes to Editors

Molecular Energies PLC is an AIM listed company at the forefront of energy
development and has interests across the energy spectrum, from oil and gas
projects to subdivisions in the green and alternative energy sub-sectors.

 

The Company has oil and gas production in Argentina as well as exploration
assets in both Argentina and Paraguay. The Company has two separate
subdivisions which are focused on early-stage opportunities in the green
and/or alternative energy sub-sector.

 

Activities in the green and alternative energy space are being carried out
under the Green House Capital brand and through AIM listed Atome Energy PLC, a
green hydrogen, ammonia, and fertiliser company operating in Paraguay, Costa
Rica and Iceland, in which Molecular currently has 20.5%.

 

With a strong strategic and institutional base of support, an in-country
management team as well as the Chairman whose interests as the largest
shareholder are aligned to those of its shareholders, Molecular 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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