REG - Prospex Energy PLC - Conversion of Loan Notes and TVR

Prospex EnergyAnnouncement

26/07/2023 07:00

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RNS Number : 1445H  Prospex Energy PLC  26 July 2023

Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

 

26 July 2023

 

Prospex Energy PLC

('Prospex' or the 'Company')

 

Conversion of Loan Notes and TVR

 

Prospex Energy PLC, the AIM-quoted investment company focused on European gas
and power projects, announces that it has received notices to convert an
aggregate of £103,307.35 in two convertible loan notes in exchange for the
issue of 2,430,762 new ordinary shares of 0.1p each in the Company ("Ordinary
Shares").

 

The abovementioned convertible loan notes were issued in July 2022 and are
convertible at 4.25p per share pursuant to a Convertible Loan Note Deed dated
18 July 2022.

 

Admission to Trading and Total Voting Rights

 

The Company has applied to the London Stock Exchange for the admission of
2,430,762 new Ordinary Shares to trading on AIM ('Admission') as a result of
the above conversion.  Admission is expected to occur on or around 31 July
2023.  There are currently 291,326,390 Ordinary Shares in issue.  Following
Admission there will be a total of 293,757,152 Ordinary Shares in issue.
This will be the number of Ordinary Shares that may 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 FCA's Disclosure and Transparency Rules.

The two loan note conversions are being made by directors of the Company,
William Smith and Alasdair Buchanan.  Both are therefore deemed to be
'Persons Discharging Managerial Responsibilities' or 'PDMRs'.

 

Declaration of Interests

The shares to be issued as part of this loan note conversion are set out
below:

 

 William Smith      1,216,827
 Alasdair Buchanan  1,213,935
 Total              2,430,762

 

Both William Smith the Chairman of the Company and Alasdair Buchanan a
non-executive director of the Company have indicated their intention to hold
their shares after this conversion.

 

Shares currently held by directors: -

 Director           Number of Shares  % of current share capital
 William Smith      6,447,517         2.21%
 Alasdair Buchanan  3,428,571         1.18%
 Mark Routh         2,639,960         0.91%
 Totals             12,516,048        4.30%

 

Directors' total interest in shares after this conversion: -

 Director           Number of Shares  % of share capital following Admission
 William Smith      7,664,344         2.61%
 Alasdair Buchanan  4,642,506         1.58%
 Mark Routh         2,639,960         0.90%
 Total              14,946,810        5.09%

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

 

* * ENDS * *

 

 

For further information visit www.prospex.energy (http://www.prospex.energy)
or contact the following:

 

 

 Mark Routh                                    Prospex Energy PLC            Tel: +44 (Tel:+44) (0) 20 7236 1177
 Ritchie Balmer                                Strand Hanson Limited         Tel: +44 (0) 20 7409 3494

Rory Murphy
 Jerry Keen                                    Fox-Davies Capital Limited    Tel: +44 (0) 20 3884 7447
 Andrew Monk (Corporate Broking)               VSA Capital Limited           Tel: +44 (0) 20 3005 5000

Andrew Raca/Alex Cabral (Corporate Finance)
 Ana Ribeiro / Susie Geliher                   St Brides Partners Limited    Tel: +44 (0) 20 7236 1177

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         William Smith
 2.  Reason for the Notification
 a)  Position/status                                              Director
 b)  Initial notification/amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Prospex Energy Plc
 b)  LEI                                                          213800NY9RH8O1B72D27
 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  Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
     Identification code                                          GB00BMFZVZ53
 b)  Nature of the Transaction                                    Issue of new ordinary shares pursuant to conversion of convertible loan notes
 c)  Price(s) and volume(s)                                       Price(s)    Volume(s)
                                                                  4.25 pence  1,216,827

 d)  Aggregated information                                       N/A (Single Transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      24 July 2023
 f)  Place of the transaction                                     AIM

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

24 July 2023

f)

Place of the transaction

AIM

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Alasdair Buchanan
 2.  Reason for the Notification
 a)  Position/status                                              Director
 b)  Initial notification/amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Prospex Energy Plc
 b)  LEI                                                          213800NY9RH8O1B72D27
 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  Ordinary shares of 0.1p each in the share capital of the Prospex Energy plc
     Identification code                                          GB00BMFZVZ53
 b)  Nature of the Transaction                                    Issue of new ordinary shares pursuant to conversion of convertible loan notes
 c)  Price(s) and volume(s)                                       Price(s)    Volume(s)
                                                                  4.25 pence  1,213,935

 d)  Aggregated information                                       N/A (Single Transaction)

     Aggregated volume Price
 e)  Date of the transaction                                      24 July 2023
 f)  Place of the transaction                                     AIM

d)

Aggregated information

Aggregated volume Price

N/A (Single Transaction)

e)

Date of the transaction

24 July 2023

f)

Place of the transaction

AIM

 

 

 

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