Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
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 a conversion notice in respect of
Following receipt of the conversion notice,
Application will be made for the Conversion Shares to be admitted to trading on AIM with admission expected to take place on or around 19 July 2021. The Conversion Shares will rank pari passu in all respects with all existing ordinary shares in the Company.
Following admission of the Conversion Shares, the Company's enlarged issued share capital will comprise 148,299,898 Ordinary Shares. The Company has 7,361 shares in treasury, therefore the figure of 148,292,537 should be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The conversion notice was received from Mr Colin Wilson, who will have a holding of 6.6 per cent in the enlarged share capital of the Company.
Background information on the 2020 Loan Notes
As announced on 24 December 2020, the Company issued a total of
The 2020 Loan Notes pays 10% interest per annum and were issued with a term of 18 months with capital repayment of unconverted amounts due on 30 June 2022. The 2020 Loan Notes grant the subscribers the right but not the obligation to convert the loan, on notice, into new ordinary shares in the Company each at
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
* * ENDS * *
For further information visit www.prospex.energy or contact the following:
Edward Dawson |
Prospex Energy PLC |
Tel: +44 (0) 20 3948 1619 |
Rory Murphy |
Strand Hanson Limited
|
Tel: +44 (0) 20 7409 3494 |
Colin Rowbury |
Novum Securities Limited |
Tel: +44 (0) 20 7399 9427 |
Duncan Vasey |
Peterhouse Corporate Finance |
Tel: +44 (0) 20 7469 0932 |
Frank Buhagiar |
St Brides Partners Ltd
|
Tel: +44 (0) 20 7236 1177 |
Notes
Prospex Energy PLC is an AIM quoted investment company focussed on high impact onshore and shallow offshore European gas and power opportunities. The Company acquires undervalued projects and then applies low-cost re-evaluation techniques to identify and de-risk prospects. Prospex currently holds a portfolio of three projects: the Podere Gallina Permit in
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.