Issue of Equity

RNS Number : 7287M

Prospex Energy PLC

16 January 2023

 

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

16 January 2023

Prospex Energy PLC

('Prospex' or the 'Company')

Exercise of Options, Conversion of Loan Notes and TVR

Prospex Energy PLC, the AIM-quoted investment company focused on European gas and power projects, announces that it has received a notice to convert an aggregate of £30,813.20 in two convertible loan notes in exchange for the issue of 725,017 new ordinary shares of 0.1p each in the Company ("Ordinary Shares") and a notice for the exercise of share options previously issued to subscribe for 850,400 new Ordinary Shares.  

The abovementioned convertible loan notes were issued in July 2022 and are convertible at 4.25p per share pursuant to a Convertible Loan Note Deed dated 18 July 2022.

The share options were issued pursuant to option agreements dated 20 July 2020 and 18 March 2022 and have been exercised by two employees of the Company.  The exercise price is 4p for 450,400 of the options exercised and 5 pence for 400,000 of the options exercised, therefore generating proceeds of £36,016 for the Company.

Admission to Trading and Total Voting Rights

The Company has applied to the London Stock Exchange for admission of, in aggregate, 1,575,417 new Ordinary Shares to trading on AIM ('Admission') as a result of the above conversions and exercises.  Admission is expected to occur on or around 19 January 2023.  There are currently 278,847,512 Ordinary Shares in issue.  Following Admission there will be a total of 280,422,929 Ordinary Shares in issue.  This will be the number of 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]
Ritchie Balmer Rory Murphy	Strand Hanson Limited	Tel: [phone]
Andrew Monk (Corporate Broking) Andrew Raca/Alex Cabral (Corporate Finance)	VSA Capital Limited	Tel: [phone]
Colin Rowbury Jon Belliss	Novum Securities Limited	Tel: [phone]
Susie Geliher Ana Ribeiro	St Brides Partners Limited	Tel: [phone]

 

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