REG - Prospex Energy PLC - Issue of Equity

Prospex EnergyAnnouncement

16/01/2023 07:00

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RNS Number : 7287M  Prospex Energy PLC  16 January 2023

 

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

 

16 January 2023

 

Prospex Energy PLC

('Prospex' or the 'Company')

 

Exercise of Options, 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 a notice to convert an
aggregate of £30,813.20 in two convertible loan notes in exchange for the
issue of 725,017 new ordinary shares of 0.1p each in the Company ("Ordinary
Shares") and a notice for the exercise of share options previously issued to
subscribe for 850,400 new 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.

 

The share options were issued pursuant to option agreements dated 20 July 2020
and 18 March 2022 and have been exercised by two employees of the Company.
The exercise price is 4p for 450,400 of the options exercised and 5 pence for
400,000 of the options exercised, therefore generating proceeds of £36,016
for the Company.

 

Admission to Trading and Total Voting Rights

 

The Company has applied to the London Stock Exchange for admission of, in
aggregate, 1,575,417 new Ordinary Shares to trading on AIM ('Admission') as a
result of the above conversions and exercises.  Admission is expected to
occur on or around 19 January 2023.  There are currently 278,847,512 Ordinary
Shares in issue.  Following Admission there will be a total of 280,422,929
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.

 

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 (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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