Prospex Energy PLC Conversion of Warrants Generates GBP20,000 (4867Q)
February 21 2023 - 1:00AM
UK Regulatory
TIDMPXEN
RNS Number : 4867Q
Prospex Energy PLC
21 February 2023
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and
Gas
21 February 2023
Prospex Energy PLC
('Prospex' or the 'Company')
Conversion of Warrants and TVR
Conversion of Warrants Generates GBP20,000
Prospex Energy PLC, the AIM-quoted investment company focused on
European gas and power projects, announces that it has received
notices for the exercise of warrants to subscribe for 666,684 new
ordinary shares of 0.1p each in the Company ("Ordinary Shares").
The warrants were issued pursuant to a warrant agreement dated 23
February 2022 which related to a placing announced by the Company
in March 2021 and are the last warrants from that placing. The
exercise price is 3 pence per warrant exercised, therefore
generating proceeds of GBP20,000.52 for the Company.
Admission to Trading and Total Voting Rights
The Company has applied to the London Stock Exchange for
admission of 666,684 new Ordinary Shares to trading on AIM
('Admission'). Admission is expected to occur on or around 24
February 2023. There are currently 284,107,440 Ordinary Shares in
issue. Following Admission, subject to the 666,684 New Shares being
allotted and issued there will be a total 284,774,124 of 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.
Mark Routh, Prospex's CEO, commented:
"These two warrant conversions are the last two 3p warrants
remaining from the equity fund raise that took place in March 2021,
when 25 million 3p warrants were issued alongside the issue of
shares. Since that time all the 3p warrants have now been converted
and the proceeds of GBP750,000 has been received by the Company
between April 2022 and today. The funds have been used for working
capital."
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
Ritchie Balmer Strand Hanson Limited Tel: +44 (0) 20
Rory Murphy 7409 3494
Andrew Monk (Corporate Broking) VSA Capital Limited Tel: +44 (0) 20
Andrew Raca/Alex Cabral (Corporate 3005 5000
Finance)
Colin Rowbury Novum Securities Tel: +44 (0) 20
Jon Belliss Limited 7399 9427
Susie Geliher St Brides Partners Tel: +44 (0) 20
Ana Ribeiro Limited 7236 1177
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END
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