TIDMADV
RNS Number : 6903T
Advance Energy PLC
26 July 2022
26 July 2022
Advance Energy plc
("Advance Energy" or the "Company")
Confirmation of Director Fundraise Participation to raise
GBP80,000
Further to the announcement made earlier this morning,
concerning the Placing and Intended Director Participation, the
Company can confirm that certain directors of Advance ("Directors")
have subscribed for 94,117,646 new Ordinary Shares at the Issue
Price and 94,117,646 Warrants as set out below (the "Director
Participation").
Defined terms are as set out in this morning's announcement
unless otherwise defined.
Application has been made to the London Stock Exchange for the
94,117,646 new Ordinary Shares to be admitted to trading on AIM
("Admission"). It is expected that Admission will become effective
and that dealings in respect of the Director Participation Shares
will commence at 8.00 a.m. on 29 July 2022. Following Admission,
there will be 1,527,613,961 Ordinary Shares in issue.
The following Directors have subscribed for Director
Participation Shares pursuant to the Director Participation for an
investment, in aggregate, of approximately GBP80,000. Their
subscription for new Ordinary Shares and Warrants is on the same
terms and conditions as the Placing.
Director No of new Ordinary Resulting holding Resulting No. of Warrants
Shares subscribed of Ordinary % of Ordinary subscribed
for pursuant Shares Share Capital for pursuant
to the Director following to the Director
Participation the Placing Participation
and Director
Participation
Mark Rollins 47,058,823 76,461,976 5.01% 47,058,823
------------------- ------------------ --------------- ----------------
Larry Bottomley 47,058,823 47,058,824 3.08% 47,058,823
------------------- ------------------ --------------- ----------------
The Director Participation by certain directors of Advance, as
set out above, constitutes a related party transaction under AIM
Rule 13. The directors deemed to be independent of the Director
Participation, being Ross Warner and Stephen Whyte, having
consulted with Strand Hanson Limited, the Company's Nominated
Adviser, consider the terms of the Director Participation to be
fair and reasonable insofar as the Company's shareholders are
concerned.
The Director Participation Shares have been subscribed for
directly with the Company (as to 47,058,823 Ordinary Shares) or
through the Placing (as to 47,058,823 Ordinary Shares), subject
only to Admission. On Admission, the Company will have
1,527,613,961 Ordinary Shares in issue. The Company holds no shares
in treasury. Accordingly, the figure of 1,527,613,961 can 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
Financial Conduct Authority's Disclosure Guidance and Transparency
Rules.
Enquiries:
Advance Energy plc
L arry Bottomley (I nterim CEO) +44 (0)1624 681 250
Strand Hanson Limited (Financial and Nominated Adviser)
Rory Murphy / James Harris / James Bellman +44 (0)20 7409 3494
Buchanan (Public Relations)
Ben Romney / Jon Krinks +44 (0)20 7466 5000
Tennyson Securities Limited (Joint Broker)
Peter Krens / Ed Haig-Thomas +44 (0)20 7186 9030
Optiva Securities Limited (Joint Broker)
Christian Dennis +44 (0)20 3411 1881
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR") as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018. Upon publication of this announcement, the
inside information is now considered to be in the public domain in
accordance with the Company's obligations under Article 17 of
MAR.
PDMR Disclosure
Ordinary Shares
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name 1. Mark Rollins
2. Larry Bottomley
-------------------------------- ------------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------
a. Position/status 1. Non-Executive Chairman
2. Interim CEO
-------------------------------- ------------------------------------------------
b. Initial notification/Amendment Initial Notification
-------------------------------- ------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------
a. Name Advance Energy plc
-------------------------------- ------------------------------------------------
b. LEI 213800TZWOYU7UFZ5V63
-------------------------------- ------------------------------------------------
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 no par value
instrument, type of instrument M00BKSCP798
Identification code
-------------------------------- ------------------------------------------------
b. Nature of the transaction Subscription for new Ordinary
Shares
-------------------------------- ------------------------------------------------
c. Price(s) and volume(s) Director Price/share Volume
(s)
1. M Rollins 0.085 pence 47,058,823
------------- -----------
2. L. Bottomley 0.085 pence 47,058,823
------------- -----------
-------------------------------- ------------------------------------------------
d. Aggregated information
* Aggregated volume 94,117,646
GBP0.00085 per Ordinary Share
* Price
-------------------------------- ------------------------------------------------
e. Date of the transactions 26 July 2022
-------------------------------- ------------------------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market (XLON)
-------------------------------- ------------------------------------------------
Warrants
1. Details of the person discharging managerial responsibilities
/ person closely associated
a. Name 3. Mark Rollins
4. Larry Bottomley
-------------------------------- -------------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------
a. Position/status 3. Non-Executive Chairman
4. Interim CEO
-------------------------------- -------------------------------------------------
b. Initial notification/Amendment Initial Notification
-------------------------------- -------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a. Name Advance Energy plc
-------------------------------- -------------------------------------------------
b. LEI 213800TZWOYU7UFZ5V63
-------------------------------- -------------------------------------------------
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 Warrants over Ordinary Shares
instrument, type of instrument of no par value
Identification code M00BKSCP798
-------------------------------- -------------------------------------------------
b. Nature of the transaction Subscription for Warrants over
Ordinary Shares
-------------------------------- -------------------------------------------------
c. Price(s) and volume(s) Director Exercise Volume
Price/share (s)
1. M Rollins 0.13 pence 47,058,823
-------------- -----------
2. L. Bottomley 0.13 pence 47,058,823
-------------- -----------
-------------------------------- -------------------------------------------------
d. Aggregated information
* Aggregated volume 94,117,646
N/A
* Price
-------------------------------- -------------------------------------------------
e. Date of the transactions 26 July 2022
-------------------------------- -------------------------------------------------
f. Place of the transactions London Stock Exchange's AIM
Market (XLON)
-------------------------------- -------------------------------------------------
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END
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July 26, 2022 02:05 ET (06:05 GMT)
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