Plutus PowerGen PLC Director Dealing (8743X)
September 02 2015 - 8:30AM
UK Regulatory
TIDMPPG
RNS Number : 8743X
Plutus PowerGen PLC
02 September 2015
Plutus PowerGen Plc / Ticker: PPG / Index: AIM
2 September 2015
Plutus PowerGen plc ('PPG' or 'the Company')
Director Dealing
Plutus PowerGen plc, the AIM listed power company focused on the
development, construction and operation of flexible stand-by
electricity generation in the UK, announces that it was notified on
1 September 2015 that on 27 August 2015 Mr. James Longley, Finance
Director of the Company, transferred 39,683,001 ordinary shares of
0.1 pence each ("Ordinary Shares") held in his own name with
Stocktrade to an account in his own name held with Hargreaves
Lansdown, at a price of 0.87 pence per Ordinary Share, as a result
of the sale of Stocktrade to a third party within a defined
timescale.
In addition, the Company was notified on 1 September 2015 that
on 14 August 2015, Mr Longley instructed the transfer of 600,000
Ordinary Shares held by Mr Longley on behalf of his son, Oliver
Edmund Chapman Longley and 7,216,999 Ordinary Shares held in Mr
Longley's self-invested personal pension scheme ("SIPP") from an
account with Stocktrade to an account with Hargreaves Lansdown. The
transfer of these Ordinary Shares has not yet completed.
The Company was today notified that on 2 September 2015 Mr
Longley transferred 1,298,800 Ordinary Shares held in his own name
to his son's junior SIPP at a price of 0.87 pence per Ordinary
Share.
Following the transfers detailed above, Mr Longley's beneficial
holding of 47,500,000 Ordinary Shares will remain unchanged and he
will retain his ultimate beneficial interest in a total of
47,500,000 Ordinary Shares which represents approximately 8.31 per
cent. of the Company's issued share capital.
A further announcement is expected to be made as soon as
possible once the transfer of the 600,000 Ordinary Shares and
7,216,999 Ordinary Shares detailed above has completed.
**ENDS**
For further information, please visit www.plutuspowergen.com, or
contact:
Charles Tatnall Plutus PowerGen Plc Tel: +44 (0)
20 8720 6562
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Phil Stephens Plutus PowerGen Plc Tel: +44 (0)
20 8720 6562
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Ewan Leggat SP Angel Corporate Tel: +44 (0)
Finance LLP 20 3470 0470
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Katy Birkin SP Angel Corporate Tel: +44 (0)
Finance LLP 20 3470 0470
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Felicity St Brides Partners Tel: +44 (0)
Winkles 20 7236 1177
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Elisabeth St Brides Partners Tel: +44 (0)
Cowell 20 7236 1177
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Notes to Editors
Plutus PowerGen plc is an AIM listed company focused on the
development, construction and operation of flexible stand-by power
generation sites in the UK. At present, the market dynamics for
flexible power generation are positive as a result of the continued
downward pressure on capacity available to National Grid to balance
supply and demand, leading to their announcements about possible
power shortages over the next few years.
Flexible Power generators such as PPG offer a viable and timely
solution to the power capacity shortfall in the UK. To this end,
PPG is initially focusing on delivering 200MW of capacity over the
next three years and currently has a project pipeline of potential
development sites with 500MW of power generation capacity.
PPG has a straightforward multi-revenue stream model with large
and stable counter-parties and is using project/EIS funding through
SPVs to finance construction of the generation assets. This
structure has the benefit of limiting dilution to plc shareholders
as the assets are financed and built.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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