REG - Prospex Energy PLC - Conversion of Warrants Generates £20,000

Prospex EnergyAnnouncement

21/02/2023 07:00

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RNS Number : 4867Q  Prospex Energy PLC  21 February 2023

 

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

 

21 February 2023

Prospex Energy PLC

('Prospex' or the 'Company')

 

Conversion of Warrants and TVR

Conversion of Warrants Generates £20,000

 

 

Prospex Energy PLC, the AIM-quoted investment company focused on European gas
and power projects, announces that it has received notices for the exercise of
warrants to subscribe for 666,684 new ordinary shares of 0.1p each in the
Company ("Ordinary Shares").  The warrants were issued pursuant to a warrant
agreement dated 23 February 2022 which related to a placing announced by the
Company in March 2021 and are the last warrants from that placing.  The
exercise price is 3 pence per warrant exercised, therefore generating proceeds
of £20,000.52 for the Company.

 

Admission to Trading and Total Voting Rights

 

The Company has applied to the London Stock Exchange for admission of 666,684
new Ordinary Shares to trading on AIM ('Admission').  Admission is expected
to occur on or around 24 February 2023.  There are currently 284,107,440
Ordinary Shares in issue.  Following Admission, subject to the 666,684 New
Shares being allotted and issued there will be a total 284,774,124 of 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.

 

Mark Routh, Prospex's CEO, commented:

"These two warrant conversions are the last two 3p warrants remaining from the
equity fund raise that took place in March 2021, when 25 million 3p warrants
were issued alongside the issue of shares.  Since that time all the 3p
warrants have now been converted and the proceeds of £750,000 has been
received by the Company between April 2022 and today.  The funds have been
used for working capital."

 

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
 Andrew Monk (Corporate Broking)               VSA Capital Limited         Tel: +44 (0) 20 3005 5000

Andrew Raca/Alex Cabral (Corporate Finance)
 Colin Rowbury                                 Novum Securities Limited    Tel: +44 (0) 20 7399 9427

Jon Belliss
 Susie Geliher                                 St Brides Partners Limited  Tel: +44 (0) 20 7236 1177

Ana Ribeiro

 

 

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