RNS Number : 4567L
Prospex Energy PLC
10 September 2021
 

 

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

 

10 September 2021

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

 

Letter to Shareholders

 

Prospex Energy PLC, the AIM quoted investment company (AIM:PXEN) focused on European gas and power projects, announces that Mark Routh, Prospex's CEO has written to all shareholders to seek their support in advance of the General Meeting to be held on 5 October 2021 and to present the Prospex Board's recommendations.

 

His letter has also been posted on the Prospex Energy website at: https://bit.ly/38VTILL

 

Mark Routh CEO of Prospex commented:

"I am contacting all shareholders to communicate the Company's recommendations for voting at the General Meeting.  We believe it is necessary for the Company to have a Board committed to representing all shareholders, with knowledge of its assets and a determination to drive shareholder value."

 

The Prospex Board's recommendations:-

·    The Board recommends voting AGAINST resolutions 1 to 8 proposing new directors and ousting the Prospex board.

·    The Board recommends voting AGAINST resolutions 9 and 10 proposing the issue of new shares by the activist shareholder group.

·    The Board recommends voting FOR resolutions 11 to 14 supporting the Prospex board and the issue of shares, which would result in less dilution than that proposed by the activist shareholder group.

 

 

* * 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

Susie Geliher
Catherine Leftley

St Brides Partners Ltd

 

Tel: +44 (0) 20 7236 1177

 

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