Prospex Energy PLC Conversion of Loan Note and TVR (3422W)
December 22 2021 - 12:59AM
UK Regulatory
TIDMPXEN
RNS Number : 3422W
Prospex Energy PLC
22 December 2021
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and
Gas
22 December 2021
Prospex Energy PLC
Conversion of Loan Note and TVR
Prospex Energy PLC, ('Prospex' or the 'Company') the AIM quoted
investment company (AIM:PXEN) focused on European gas and power
projects, announces that it has issued a total of 487,804 ordinary
shares of 0.1p each in the capital of the Company ("Ordinary
Shares"), following the conversion of a convertible loan note
granted in December 2020 (the "2020 CLN").
This is the final conversion of the remaining 2020 CLNs, being a
conversion of GBP10,000 of convertible loan notes, thus improving
the Company's balance sheet by that amount. The 2020 CLN is being
converted at the agreed price of 2.05p and has been issued to one
individual pursuant to a loan note instrument dated 23 December
2020 and also announced by the Company on 24 December 2020.
Following this conversion, all of the December 2020 convertible
loan notes issued pursuant to the same instrument are now expunged.
The Company has issued 487,804 new Ordinary Shares as a result of
the conversion. As part of this 2020 CLN conversion, the accrued
interest since 30 June 2021 of GBP473 will be paid in cash to the
loan note holder.
Admission to Trading
The Company has today applied to the London Stock Exchange for
admission of 487,804 new Ordinary Shares to trading on AIM
('Admission'). Admission is expected to occur on or around 30
December 2021. On 22 December 2021 there are 176,822,479 Ordinary
Shares in issue and 7,361 shares held in Treasury. Following
Admission, there will be 177,310,283 Ordinary Shares in issue.
Deducting the 7,361 held in Treasury there will accordingly be
177,302,922 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.
* * ENDS * *
For further information visit www.prospex.energy or contact the
following:
Mark Routh Prospex Energy PLC Tel: +44 (0) 20 7236
1177
Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer 3494
Colin Rowbury Novum Securities Limited Tel: +44 (0) 20 7399
Jon Belliss 9427
Duncan Vasey Peterhouse Capital Limited Tel: +44 (0) 20 7220
9797
Susie Geliher St Brides Partners Ltd Tel: +44 (0) 20 7236
Catherine Leftley 1177
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END
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