REG - Prospex Energy PLC - Update: £1.6 million CLN Fundraise Oversubscribed

Prospex EnergyAnnouncement

Today 07:00

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RNS Number : 4905W  Prospex Energy PLC  13 March 2026

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

 

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION,
DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF
SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF
SECURITIES IN ANY JURISDICTION.

 

The communication of this announcement, and any other documents or materials
relating to the CLNs is not being made, and such documents and/or materials
have not been approved, by an authorised person for the purposes of section 21
of the Financial Services and Markets Act 2000.  Accordingly, such documents
and/or materials are not being distributed to, and must not be passed on to,
the general public in the United Kingdom.  The communication of such
documents and/or materials as a financial promotion is only being made to, and
may only be acted upon by, those persons in the United Kingdom falling within
the definition of investment professionals (as defined in Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Financial Promotion Order")) or persons who are within Article 43 of the
Financial Promotion Order (being existing members or creditors of the Company)
or any other persons to whom it may otherwise lawfully be made under the
Financial Promotion Order.

 

13 March 2026

 

Prospex Energy PLC

('Prospex' or the 'Company')

 

Update:  £1.6 million Convertible Loan Note Fundraise Oversubscribed

 

Further to yesterday's RNS, Prospex Energy PLC (AIM: PXEN), the AIM-quoted
investing company focused on European gas and power projects, is pleased to
confirm that its unsecured Convertible Loan Note ("CLN") offering is now
oversubscribed.

 

Investors wishing to participate in the CLN offering can still do so, but must
inform the Company by no later than 5 p.m. today, Friday, 13 March 2026, and
can expect to receive a pro rata allocation.

 

Depending on the quantum of final subscriptions, the Board may elect to
increase the total size of the offering.

 

Tom Reynolds, Prospex's CEO, commented:

"I am pleased by the strong support shown by investors following yesterday's
announcement, with commitments received resulting in the CLN fundraise
becoming oversubscribed.  A limited opportunity remains for investors to
participate, and interested parties should contact the Company before the
close of business today. I would like to thank shareholders who have taken
part in the fundraising for their continued support."

 

How to subscribe to the CLN

The CLN will be issued by the Company directly to each subscriber.

 

To subscribe to the CLN please contact the Company's brokers VSA Capital or
Hannam & Partners by email:-

 

VSA Capital                         email
mail@vsacapital.com (mailto:mail@vsacapital.com)

Hannam & Partners        email info@hannam.partners
(mailto:info@hannam.partners)

 

 

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:

 

 Tom Reynolds, CEO                 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) 7469 152 119

Andrew Raca (Corporate Finance)
 Neil Passmore                     Hannam & Partners             Tel: +44 (0) 20 7907 8500

 Leif Powis
 Ana Ribeiro / Charlotte Page      St Brides Partners Limited    Tel: +44 (0) 20 7236 1177

 

Notes

Prospex Energy PLC is an AIM quoted investing company focussed on high impact
onshore and shallow offshore European opportunities with short timelines to
production. The Company's strategy is to acquire undervalued projects with
multiple, tangible value trigger points that can be realised within 12 months
of acquisition and then applying low-cost re-evaluation techniques to identify
and de-risk prospects.  The Company will rapidly scale up gas production in
the short term to generate internal revenues that can then be deployed to
develop the asset base and increase production further.

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