Sale of certain shares in Atome Energy PLC

Molecular Energies PLC

14 July 2023

 

14 July 2023

MOLECULAR ENERGIES PLC

("Molecular", "the Company", or "the Group")

Sale of certain shares in Atome Energy PLC ("ATOME")

Molecular Energies PLC (AIM: MEN), the international energy company, announces a sale of shares in ATOME.

Molecular has disposed of 800,000 ordinary shares in ATOME at a price of £1.00 per share. Reference is made to the announcement made today by ATOME in this regard and in particular the identity of the purchaser.

The sale will generate a gain to the Group of £800,000.00 as the shares in ATOME are held at nil cost in the Group accounts. As a result of the sale, Molecular now holds 8,272,045 ordinary shares in ATOME representing 20.5% of the entire issued share capital.

Peter Levine, Chairman, commented:

"This first sale of Molecular's investment in Atome not only is deliberately made to bring in further serious investors into Atome, broadening the share register, but it also demonstrates the value both already created by Molecular in Atome and projected in the future by the planned spin off and IPO of our Green House Capital division".

For more information please visit www.molecularenergiesplc.com or contact:

Molecular Energies PLC Peter Levine, Chairman Rob Shepherd, Group FD	[phone] [e-mail]
finnCap (Nominated Advisor and Broker) Christopher Raggett, George Dollemore	[phone]
Tavistock (Financial PR & IR) Simon Hudson, Nick Elwes, Charles Baister	[phone]

Notes to Editors

Molecular Energies PLC is an AIM listed company at the forefront of energy development and has interests across the energy spectrum, from oil and gas projects to subdivisions in the green and alternative energy sub-sectors.

The Company has oil and gas production in Argentina as well as exploration assets in both Argentina and Paraguay. The Company has two separate subdivisions which are focused on early-stage opportunities in the green and/or alternative energy sub-sector.

Activities in the green and alternative energy space are being carried out under the Green House Capital brand and through AIM listed Atome Energy PLC, a green hydrogen, ammonia, and fertiliser company operating in Paraguay, Costa Rica and Iceland, in which Molecular currently has 20.5%.

With a strong strategic and institutional base of support, an in-country management team as well as the Chairman whose interests as the largest shareholder are aligned to those of its shareholders, Molecular gives UK investors access to an energy growth story combined with world class standards of corporate governance, environmental and social responsibility.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Peter Levine, Chairman.

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