RNS Number : 2389J
Prospex Energy PLC
20 August 2021
 

 

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

20 August 2021

Prospex Energy PLC ('Prospex' or the 'Company')

 

Conversion of Warrants and TVR

 

Prospex Energy PLC, the AIM quoted investment company (AIM:PXEN) focused on European gas and power projects, has issued a total of 11,644,817 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares"), following the conversion of certain warrants granted pursuant to warrant agreements dated 23 December 2020 (and as announced by the Company on 24 December 2020).  All warrants have been exercised at 2.25p and therefore the Company has received c. £262,000 as part of the exercise.

 

The names of the individuals, the number of warrants exercised, the number of new Ordinary Shares that will be issued and the resultant percentage holding of Ordinary Shares are as follows:-

 

Name

No. of Warrants Exercised and No. of New Ordinary Shares Issued

Resultant holding of Ordinary Shares

Resultant percentage holding of Ordinary Shares

Colin Wilson

8,888,888

18,644,986

11.66%

Bill Smith

1,195,705

3,894,438

2.43%

James Smith

964,519

4,890,858

3.06%

Richard Mays*

595,705

708,105

0.44%

Total

11,644,817

 

 

*This exercise notice was received on behalf of the Trustees of the SIPP of Elaine and Richard Mays who are the beneficial owners of the warrants.

 

Bill Smith and Richard Mays are directors of the Company, thus as Persons Discharging Managerial Responsibility ('PDMR') - the PDMR Notifications are set out below.

 

Admission to Trading and TVR

 

The Company has applied to the London Stock Exchange for admission of 11,644,817 new Ordinary Shares to trading on AIM ('Admission').  Admission is expected to occur on 25 August 2021.  There are currently 148,299,898 Ordinary Shares in issue and 7,361 shares held in Treasury.  Following Admission, there will be 159,944,715 Ordinary Shares in issue.  Deducting the 7,361 held in Treasury there will accordingly be 159,937,354 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, CEO of Prospex, commented:

"The receipt of funds from the conversion of these warrants is very useful at the current time.  This together with recent record monthly income from the El Romeral power plant in southern Spain on account of record high electricity prices means we can comfortably manage our commitments well into next year."

 

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 or contact the following:

 

 

Mark Routh

Prospex Energy PLC

Tel: +44 (0) 20 7236 1177

Rory Murphy
Ritchie Balmer

 

Strand Hanson Limited

 

Tel: +44 (0) 20 7409 3494
 

Colin Rowbury
Jon Belliss

Novum Securities Limited

Tel: +44 (0) 20 7399 9427

Duncan Vasey

Peterhouse Capital Limited

Tel: +44 (0) 20 7220 9797

Frank Buhagiar
 

St Brides Partners Ltd

 

Tel: +44 (0) 20 7236 1177

 

 

 

PDMR Notification

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

William Smith

2.

Reason for the Notification

a)

Position/status

Director of the Company

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 Prospex Energy plc

Identification code

GB00BMFZVZ53

b)

Nature of the Transaction

Exercise of Warrants

c)

Price(s) and volume(s)

Price(s)

Volume(s)

2.25 pence

 

1,195,705

 

 

d)

Aggregated information

Aggregated volume Price

1,195,705

2.25 pence

e)

Date of the transaction

16 August 2021

f)

Place of the transaction

London

 

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Mays

2.

Reason for the Notification

a)

Position/status

Director of the Company

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

Exercise of Warrants

c)

Price(s) and volume(s)

Price(s)

Volume(s)

2.25 pence

 

595,705

 

 

d)

Aggregated information

Aggregated volume Price

595,705

2.25 pence

e)

Date of the transaction

16 August 2021

f)

Place of the transaction

London

 

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