President Energy PLC Result of General Meeting (2337C)
06 Febrero 2020 - 6:57AM
UK Regulatory
TIDMPPC
RNS Number : 2337C
President Energy PLC
06 February 2020
6 February 2020
PRESIDENT ENERGY PLC
("President" or the "Company")
Result of General Meeting
President Energy (AIM: PPC), the upstream oil and gas company
with a diverse portfolio of production and exploration assets
focused primarily South America, announces that the resolutions
proposed at its General Meeting held earlier today, and as set out
in the Circular sent to shareholders on 21 January 2020, were all
duly passed.
Application has been made for the 37,048,915 Loan Conversion
Shares to be admitted to trading on AIM and dealings are expected
to commence on 7 February 2020 ("Admission").
The Loan Conversion Shares will be issued to PLLG Investments
Limited ("PLLG"). Following admission of the Loan Conversion Shares
becoming effective in accordance with Rule 6 of the AIM Rules, PLLG
will own 374,453,462 ordinary shares in the Company, representing
29.86% of the Company's enlarged issued share capital.
The Loan Conversion Shares will rank pari passu with the
existing shares of the Company. Following Admission, the Company's
issued share capital will consist of 1,253,974,179 Ordinary Shares.
Accordingly, the figure of 1,253,974,179 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.
ENDS
President Energy PLC
Peter Levine, Chairman
Rob Shepherd, Group FD +44 (0) 207 016 7950
finnCap (Nominated Advisor)
Christopher Raggett, Scott Mathieson +44 (0) 207 220 0500
Whitman Howard (Broker)
Hugh Rich, Grant Barker +44 (0) 207 659 1234
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 London Stock Exchange (PPC.L) primarily focused in
Argentina, with a diverse portfolio of operated onshore producing
and exploration assets.
The Company has operated interests in Puesto Flores, Estancia
Vieja, Puesto Prado, Angostura and Las Bases, Rio Negro Province
and in the Puesto Guardian Concession, in the Noroeste Basin in NW
Argentina. Alongside this, President Energy has cash generative
production assets in Louisiana, USA and further significant
exploration and development opportunities through its acreage in
Paraguay and Argentina.
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 World Bank Group, an in-country management team as well
as a Board whose interests are aligned to those of its
shareholders, President Energy gives UK investors rare access to
the Argentinian growth story combined with world class standards of
corporate governance, environmental and social responsibility.
This announcement contains inside information for the purposes
of article 7 of Regulation 596/2014
This information is provided by RNS, the news service of the
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END
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February 06, 2020 07:57 ET (12:57 GMT)
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