TIDMPXEN
RNS Number : 9237F
Prospex Energy PLC
13 July 2023
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and
Gas
13 July 2023
Prospex Energy PLC
('Prospex' or the 'Company')
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
notices to convert an aggregate of GBP267,993.11 in four
convertible loan notes in exchange for the issue of 6,305,721 new
ordinary shares of 0.1p each in the Company ("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.
Admission to Trading and Total Voting Rights
The Company has applied to the London Stock Exchange for the
admission of 6,305,721 new Ordinary Shares to trading on AIM
('Admission') as a result of the above conversion. Admission is
expected to occur on or around 18 July 2023. There are currently
285,020,669 Ordinary Shares in issue. Following Admission there
will be a total of 291,326,390 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.
Two of the loan note conversions are being made by the
management of the Company, one by Mark Routh a director of the
Company and CEO and one by a senior manager of the Company, Grant
Glanfield the Group Head of Finance. Both are therefore deemed to
be 'Persons Discharging Managerial Responsibilities' or
'PDMRs'.
Declaration of Interests
The shares to be issued as part of this loan note conversion are
set out below:
Mark Routh 1,211,389
Amberjack Resources
Ltd* 1,455,641
----------
Others 3,638,691
----------
Total 6,305,721
----------
* Grant Glanfield is a Director and owner of Amberjack Resources
Ltd.
Shares currently held by directors and PDMRs: -
Director*/PDMR Number of Shares
Grant Glanfield 8,847,500
-----------------
William Smith* 6,447,517
-----------------
Alasdair Buchanan* 3,428,571
-----------------
Mark Routh* 1,428,571
-----------------
Totals 20,152,159
-----------------
Directors'/PDMRs total interest in shares after this conversion:
-
Director*/PDMR Number % of share
of Shares capital following
Admission
Grant Glanfield 10,303,141 3.54%
----------- -------------------
William Smith* 6,447,517 2.21%
----------- -------------------
Alasdair Buchanan* 3,428,571 1.18%
----------- -------------------
Mark Routh* 2,639,960 0.91%
----------- -------------------
Total 22,819,189 7.83%
----------- -------------------
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.
* *S * *
For further information visit www.prospex.energy or contact the
following:
Mark Routh Prospex Energy Tel: +44 (0) 20
PLC 7236 1177
Ritchie Balmer Strand Hanson Tel: +44 (0) 20
Rory Murphy Limited 7409 3494
------------------ ---------------
Jerry Keen Fox-Davies Capital Tel: +44 (0) 20
Limited 3884 7447
------------------ ---------------
Andrew Monk (Corporate Broking) VSA Capital Tel: +44 (0) 20
Andrew Raca/Alex Cabral (Corporate Limited 3005 5000
Finance)
------------------ ---------------
Ana Ribeiro / Susie Geliher St Brides Partners Tel: +44 (0) 20
Limited 7236 1177
------------------ ---------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Routh
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Director
-------------------------------- --------------------------------------
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 Ordinary shares of 0.1p each in the
instrument, type of instrument share capital of the Prospex Energy
plc
-------------------------------- --------------------------------------
Identification code GB00BMFZVZ53
-------------------------------- --------------------------------------
b) Nature of the Transaction Issue of new ordinary shares pursuant
to conversion of convertible loan
notes
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
4.25 pence 1,211,389
----------
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 12 July 2023
-------------------------------- --------------------------------------
f) Place of the transaction AIM
-------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Grant Glanfield
-------------------------------- --------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------
a) Position/status Senior Management
-------------------------------- --------------------------------------
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 Ordinary shares of 0.1p each in the
instrument, type of instrument share capital of the Prospex Energy
plc
-------------------------------- --------------------------------------
Identification code GB00BMFZVZ53
-------------------------------- --------------------------------------
b) Nature of the Transaction Issue of new ordinary shares pursuant
to conversion of convertible loan
notes
-------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
4.25 pence 1,455,641
----------
-------------------------------- --------------------------------------
d) Aggregated information N/A (Single Transaction)
Aggregated volume Price
-------------------------------- --------------------------------------
e) Date of the transaction 12 July 2023
-------------------------------- --------------------------------------
f) Place of the transaction AIM
-------------------------------- --------------------------------------
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END
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