President Energy PLC - PrimaryBid.com Offer
("President" or the "Company")
The PrimaryBid Offer and the Placing are conditional on the new Ordinary Shares to be issued pursuant to the PrimaryBid Offer and the Placing being admitted to trading on
The board of directors of the Company (the "Board") is proposing to obtain necessary shareholder approval, where required, to implement the above at a general meeting to be held on
The Company will use the funds raised for working capital purposes and to provide the Company with further liquidity to promote its growth.
The net effect of the Subscription and the intended Conversion will be to reduce the net debt of the Group by a minimum of approximately
For more information about the Company, please visit the Issuer Services Page, a service provided by
The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the PrimaryBid Offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app available on the
The PrimaryBid Offer, via the PrimaryBid.com platform, will be open to individual and institutional investors from 4.31 p.m. to 9 p.m. on
Subscriptions under the PrimaryBid Offer will be considered by the Company on a "first come, first served" basis, subject to conditions (which are available to view on PrimaryBid.com).
The Company in consultation with PrimaryBid reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the Offer without giving any reason for such rejection.
No commission is charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid. It is vital to note that once an application for New Ordinary Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.
Further information on the PrimaryBid Offer is included in the announcement made by the Company at
The New Ordinary Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares.
President Energy PLC
+44 (0) 207 016 7950
finnCap (Nominated Adviser and Broker)
Tavistock (Financial PR)
+ 44 (0) 203 026 4750
+44 (0) 207 220 0500
+44 (0) 207 920 3150
Details of the retail offer (the "Offer")
The Company highly values its retail investor base which has supported the Company alongside institutional investors over several years. Given the longstanding support of retail shareholders, the Company believes that it is appropriate to provide retail and other interested investors the opportunity to participate in the Offer. The Company is therefore making the Offer available exclusively through PrimaryBid.com.
The Offer is offered under the exemptions against the need for a prospectus allowed under the Prospectus Rules, as defined in section 73A(4) of the FSMA (the "Prospectus Rules"). As such, there is no need for publication of a prospectus pursuant to the Prospectus Rules, or for approval of the same by the Financial Conduct Authority in its capacity as the
There is a minimum subscription of
For further details please refer to the PrimaryBid.com website at www.PrimaryBid.com. The terms and conditions on which the Offer is made, including the procedure for application and payment for New Ordinary Shares, is available to all persons who register with PrimaryBid.com.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares and investment in the Company carries a number of risks. Investors should consider the risk factors set out on PrimaryBid.com before making a decision to subscribe for New Ordinary Shares. Investors should take independent advice from a person experienced in advising on investment in securities such as the New Ordinary Shares if they are in any doubt.
This information is provided by RNS, the news service of the
Quick facts: President Energy PLC
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