00:07 Tue 23 Jun 2020
President Energy PLC - Result of General Meeting
("President" or the "Company")
Result of General Meeting
The Company has also today announced its annual results for the year ended
Accordingly, and further to the announcement made on
Following the conversion referred to above
In addition, as set out in the Circular, certain Directors and other employees of the Company who intended to subscribe directly with the Company for Placing Shares in the Placing at the Placing Price have entered into subscription agreements in relation to a total of 15,136,619 Placing Shares. (the "Directors' Subscription") The participation of the relevant Directors is set out in the table below:
Director | Number of Placing Shares acquired | Resultant shareholding post Placing | % of Enlarged Issued Share Capital |
| | | |
| 8,108,108 | 9,170,502 | 0.5 |
| 3,547,296 | 3,704,475 | 0.2 |
The entry into the IYA Loan Facility, the issuance of the Conversion Shares and the Directors' Subscriptions are related party transactions for the purposes of Rule 13 of the AIM Rules for Companies.
Application has been made for the Subscription Shares, the Conversion Shares, the Placing Shares and the Retail Offer Shares being a total of 741,642,271 new Ordinary Shares (together "the New Shares") to be admitted to trading on AIM and dealings are expected to commence on
The Subscription Shares and the Loan Conversion Shares (as defined in the Circular) will be issued respectively to Trafigura and to
The New Shares will rank pari passu with the existing shares of the Company. Following Admission, the Company's issued share capital will consist of 2,007,914,603 Ordinary Shares. Accordingly, the figure of 2,007,914,603 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 Guidance and Transparency Rules.
Unless the context requires otherwise, capitalised terms used in this Announcement have the meaning set out in the announcement of the Company of
ENDS
Peter Levine, Chairman Rob Shepherd, Group FD
| +44 (0) 207 016 7950
|
finnCap (Nominated Advisor) Christopher Raggett, Charlie Beeson | +44 (0) 207 220 0500 |
Jerry Keen, Antonio Bossi |
+44 (0) 207 408 4090 |
Tavistock (Financial PR) Nick Elwes, Simon Hudson |
+44 (0) 207 920 3150 |
Notes to Editors
President Energy is an oil and gas company listed on the AIM market of the
The Company has operated interests in Puesto Flores, Estancia Vieja, Puesto Prado, Angostura and Las Bases,
The Group is also actively pursuing value accretive acquisitions of high-quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support, including the IFC, part of the
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014
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: | 1. Peter Levine 2. Rob Shepherd 3. Jorge Bongiovanni 4. Dr. Martin Gee 5. Scott Daspit 6. Jordan Coleman
| ||||||||||||||||
2. | Reason for the notification | |||||||||||||||||
a) | Position/status: | 1. PDMR - Chairman & Chief Executive 2. PDMR - Group Finance Director 3. PDMR - Non-Executive Director 4. PDMR - Head of Sub-Surface 5. PDMR - VP Operations USA 6. PDMR - Operations Manager
| ||||||||||||||||
b) | Initial notification/Amendment: | Initial notification
| ||||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||
a) | Name: |
| ||||||||||||||||
b) | LEI: | 213800MA2ZN22I4ITA79 | ||||||||||||||||
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 instrument, type of instrument:
Identification code: | Ordinary shares of 1 penny per share
ISIN: GB00B3DDP128 | ||||||||||||||||
b) | Nature of the transaction: | Purchase of Ordinary Shares
| ||||||||||||||||
c) | Price(s) and volume(s): |
| ||||||||||||||||
d) | Aggregated information: Aggregated volume: Price: | as in 4 c) above
| ||||||||||||||||
e) | Date of the transaction: | 23 June 2020 | ||||||||||||||||
f) | Place of the transaction: | AIM, |
This information is provided by RNS, the news service of the
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
FOR OUR FULL DISCLAIMER CLICK HERE