TIDMNCCL

RNS Number : 6424F

Ncondezi Energy Limited

18 November 2020

News Release

Non-Executive Director/ PDMR dealing

18 November 2020: Nco ndezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) announces that it has been notified that on 17 November 2020, Scott Fletcher, Non-Executive Director, purchased an aggregate of 1,615,000 ordinary shares of no par value ("Ordinary Shares").

Following this transaction, Scott Fletcher's beneficial interest in Ordinary Shares in the Company increased to 60,728,197 Ordinary Shares, representing 17.37 per cent. of the Company's issued share capital.

Enquiries

For further information please visit www.ncondezienergy.com or contact:

 
 Ncondezi Energy             Hanno Pengilly                     +27 (0) 71 362 3566 
 Liberum Capital Limited     Scott Mathieson, Edward Thomas,    +44 (0) 20 3100 
  NOMAD & Joint Broker        Kane Collings                      2000 
 Novum Securities Limited                                       +44 (0) 20 7399 
  Joint Broker               Colin Rowbury                       9427 
 Pimlico Advisory Ltd                                           +44 (0) 777 56 55 
  Investor Relations         Elizabeth Johnson                   927 
 

The notification below is made in accordance with the requirements of the EU Market Abuse Regulation.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                      Scott Fletcher 
      ------------------------  --------------------------------------- 
 2     Reason for the notification 
      ----------------------------------------------------------------- 
 a)    Position/status           Non-Executuve Director 
      ------------------------  --------------------------------------- 
 b)    Initial notification      Initial notification 
        /Amendment 
      ------------------------  --------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ----------------------------------------------------------------- 
 a)    Name                      Ncondezi Energy Limited 
      ------------------------  --------------------------------------- 
 b)    LEI                       2138003W75PP9STE9J18 
      ------------------------  --------------------------------------- 
 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               Ordinary shares of no par value 
        of the financial 
        instrument, 
        type of instrument 
 
        Identification            VGG640631039 
        code 
      ------------------------  --------------------------------------- 
 b)    Nature of                 On-market purchase 
        the transaction 
      ------------------------  --------------------------------------- 
 c)    Price(s) and                Price(s)       Volume(s) 
        volume(s)                   1. 5.994p           1. 50,000 
                                     2. 5.994p           2. 50,000 
                                     3. 5.74p            3. 50,000 
                                     4. 5.68p            4. 100,000 
                                     5. 5.6498p          5. 100,000 
                                     6. 5.5998p          6. 175,000 
                                     7. 5.742p           7. 75,000 
                                     8. 5.4998p          8. 100,000 
                                     9. 5.7998p          9. 40,000 
                                     10. 5.8919p         10. 50,000 
                                     11. 5.692p          11. 100,000 
                                     12. 5.5675p         12. 50,000 
                                     13. 5.5998p         13. 250,000 
                                     14. 5.3498p         14. 50,000 
                                     15. 5.1875p         15. 25,000 
                                     16. 5.18p           16. 50,000 
                                     17. 5.1698p         17. 50,000 
                                     18. 5.1698p         18. 50,000 
                                     19. 5.18p           19. 50,000 
                                     20. 5.342p          20. 100,000 
                                     21. 5.18p           21. 50,000 
                                   -------------  ------------------ 
      ------------------------  --------------------------------------- 
       Aggregated 
        information 
        - Aggregated               1,615,000 
        volume 
 d)     - Price                    5.56p 
      ------------------------  --------------------------------------- 
 e)    Date of the               17 November 2020 
        transaction 
      ------------------------  --------------------------------------- 
 f)    Place of the              London Stock Exchange, AIM 
        transaction 
      ------------------------  --------------------------------------- 
 

Note:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Hanno Pengilly, Chief Executive Officer of the Company (responsible for arranging release of this announcement) on +27 (0) 71 362 3566.

About Ncondezi Energy

Ncondezi is an African power development company with an advanced staged, integrated 300MW thermal coal power plant and mine project located in the Tete Province, Northern Mozambique.

The Company is focused on providing reliable, affordable and accessible baseload energy to Mozambique and secure against the effects of water drought and intermittency of new renewables. This project supports Mozambique's energy strategy of universal electricity access by 2030. According to the World Bank, only 30% of the Mozambican population had access to energy in 2017. The Ncondezi Project would provide 300MW of reliable and available power helping to close the infrastructure gap of the region and serving as a catalyst for economic development.

The power plant will be designed to be equipped with state-of-the-art emissions controls technologies that will reduce local air pollutants, minimizing the plant's impact on the environment and ensuring its compliance with the most stringent emission standards

In 2019, the Company entered into the Commercial and Industrial ("C&I") renewable and battery storage sector and in October 2019 announced its first investment in an off grid solar battery project. The Company has also secured the right to fund a US$5.5m C&I project development pipeline in Mozambique through a Relationship Agreement with a C&I developer. The move into the C&I solar and battery storage sector offers a significant opportunity for the Company to complement the existing large-scale baseload power project and access near-term low-risk annuity income streams which have significant growth potential.

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November 18, 2020 02:00 ET (07:00 GMT)

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