Subscription for £55,000 of Convertible Loan Stock

RNS Number : 4343H

Path Investments plc

03 December 2020

 

Path Investments plc
("Path" or the "Company")

Subscription for £55,000 of Convertible Unsecured Loan Stock

Path Investments plc (TIDM: PATH) , the energy and natural resources investment company,  announces that certain investors, including directors of the Company, have subscribed for £55,000 of the Company's 2018 nominal convertible unsecured loan stock instrument, as described in the Company's 2018 Annual Report.

The directors who have participated are Brent Fitzpatrick and Jack Allardyce, who have each subscribed for £5,000. In addition, Ocean Park Developments, a company ultimately owned by Mr Fitzpatrick has subscribed for £5,000. The funds raised will be applied towards the costs of the Company's proposed re-Admission, as announced on 5 November 2020.

The notification set out below, made pursuant to Article 19(3) of the Market Abuse Regulation, provides further details.

1.	Details of Director/PDMR
(a)	Name	Brent Fitzpatrick
2.	Reason for notification
(b)	Position / status	Chairman
(c)	Initial notification / amendment	Initial notification
3.	Details of the Issuer
(a)	Name	Path Investments plc
(b)	LEI	21380058VQBP76M7TN11
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 transaction(s) have been conducted
(a)	Description of the financial instrument, type of instrument, Identification code	Ordinary shares of 0.1 pence each ISIN GB00BYQD5059 PATH
(b)	Nature of the transaction	Subscription pursuant to the Company's 2018 nominal convertible unsecured loan stock instrument
(c)	Price(s) and volume	Price Volume Nil n/a
(d)	Aggregated information	N/A (single transaction)
(e)	Date of the transaction	2.12. 2020
(f)	Place of the transaction	Outside of trading venue

1.	Details of Director/PDMR
(a)	Name	Jack Allardyce
2.	Reason for notification
(b)	Position / status	Executive Director
(c)	Initial notification / amendment	Initial notification
3.	Details of the Issuer
(a)	Name	Path Investments plc
(b)	LEI	21380058VQBP76M7TN11
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 transaction(s) have been conducted
(a)	Description of the financial instrument, type of instrument, Identification code	Ordinary shares of 0.1 pence each ISIN GB00BYQD5059 PATH
(b)	Nature of the transaction	Subscription pursuant to the Company's 2018 nominal convertible unsecured loan stock instrument
(c)	Price(s) and volume	Price Volume Nil n/a
(d)	Aggregated information	N/A (single transaction)
(e)	Date of the transaction	2.12.2020
(f)	Place of the transaction	Outside of trading venue

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

For further information please contact:

Path Investments plc	C /O IFC
Christopher Theis
IFC Advisory Limited (Financial PR & IR)	020 3934 6630
Tim Metcalfe
Zach Cohen
Grant Thornton UK LLP (Financial Adviser)
Jamie Barklem	020 7865 2692
Harrison Clarke	020 7184 4384
Keith, Bayley, Rogers & Co. Limited (Broker)
Brinsley Holman	07776 30 22 28
Graham Atthill-Beck	07506 43 41 07

 

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