Conversion of Warrants and TVR

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: [phone]
Rory Murphy Ritchie Balmer	Strand Hanson Limited	Tel: [phone]
Colin Rowbury Jon Belliss	Novum Securities Limited	Tel: [phone]
Duncan Vasey	Peterhouse Capital Limited	Tel: [phone]
Frank Buhagiar	St Brides Partners Ltd	Tel: [phone]

 

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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