Conversion of Warrants and TVR

RNS Number : 3686K

Prospex Energy PLC

05 May 2022

 

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

5 May 2022

Prospex Energy PLC

('Prospex' or the 'Company')

Conversion of Warrants and TVR

Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, announces that it has received notice for the exercise of warrants to subscribe for 1,000,000 new ordinary shares of 0.1p each in the Company ("Ordinary Shares").  The warrants were issued  to an individual pursuant to a warrant agreement dated 23 March 2022 which related to a placing announced by the Company in March 2021.  The exercise price is 3 pence per New Ordinary Share.  The Exercise of these warrants will generate proceeds of £30,000 for the Company.

Admission to Trading

The Company has applied to the London Stock Exchange for admission of 1,000,000 new Ordinary Shares to trading on AIM ('Admission').  Admission is expected to occur on or around 10 May 2022.  There are currently 248,447,426 Ordinary Shares in issue and 7,361 shares held in Treasury.

Following Admission, the Company's enlarged share capital will  be 249,447,426.  Deducting the 7,361 held in Treasury there will accordingly be 249,440,065 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.

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.

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For further information visit www.prospex.energy or contact the following:

Mark Routh	Prospex Energy PLC	Tel: [phone]
Rory Murphy Ritchie Balmer	Strand Hanson Limited	Tel: [phone]
Colin Rowbury Jon Belliss	Novum Securities Limited	Tel: [phone]
Duncan Vasey Lucy Williams	Peterhouse Capital Limited	Tel: [phone]
Susie Geliher Ana Ribeiro	St Brides Partners Ltd	Tel: [phone]

 

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