Solgenics Limited Director/PDMR Shareholding (3115Z)
12 Mayo 2023 - 9:26AM
UK Regulatory
TIDMSGN
RNS Number : 3115Z
Solgenics Limited
12 May 2023
News Release
PDMR Dealing
12 May 2023: Solgenics Limited (the "Company") announces it has
been notified that on 10 May 2023, Scott Fletcher, Non-Executive
Director, purchased an aggregate of 3,500,000 ordinary shares of no
par value in the Company ("Shares").
Scott Fletcher's purchases were made in compliance with the
Company's share dealing policy, increasing his beneficial interest
in Ordinary Shares in the Company to 167,667,036 Ordinary Shares,
representing 29.60 per cent. of the Company's issued share
capital.
Articles of Association
Under Article 32 of the Company's Articles of Association, where
a person or persons acting in concert acquire 30% or more of the
Company's issued share capital, the Board may, but is not obliged
to require such persons to extend the offer to all
shareholders.
Further to the announcement on 16 January 2023 in connection
with the loan conversion, whilst the Directors do not believe Hanno
Pengilly, Seritza Limited, Mike Haworth and Scott Fletcher to be
acting in concert, for the purposes of Article 32, Aman Sachdeva,
as the independent director has agreed that it is in the best
interest of the Company following the Company's announcement of its
intention to delist, not to restrict any of them from acquiring
further shares given that certain shareholders may wish to sell
their shares ahead of the potential delisting. In light of the
current circumstances, Aman Sachdeva, as the independent director,
will not require them to extend an offer to all shareholders under
Article 32 where any of Seritza Limited, Mike Haworth or Scott
Fletcher (with their connected parties) individually own or control
30% or more of the issued share capital provided that in aggregate
they do not own or control 50% or more of the issued share
capital.
This limit will be reassessed in light of the then current
circumstances in the event that any of Seritza Limited, Mike
Haworth or Scott Fletcher (with their connected parties) in
aggregate intend to make further acquisitions such that they would
own or control 50% or more of the issued share capital.
Enquiries
For further information please visit www.solgenics.com or
contact:
Solgenics: Hanno Pengilly +27 (0) 71 362 3566
Liberum Capital Limited: Scott Mathieson, Edward Thomas, +44 (0) 20 3100
NOMAD & Joint Broker Kane Collings 2000
Novum Securities
Limited +44 (0) 20 7399
Joint Broker Colin Rowbury 9427
Pimlico Advisory
Ltd +44 (0) 777 56 55
Investor Relations Elizabeth Johnson 927
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018. Upon
publication of this Announcement and such information is now
considered to be in the public domain. The person who arranged for
the release of this announcement on behalf of the Company was Hanno
Pengilly, CEO.
About Solgenics
Solgenics is an African renewable energy development company
focused on the development of a 300MW solar PV plus BESS renewable
energy in the Tete Province in northern Mozambique (the "Tete Solar
Project").
It is the intention that the Tete Solar Project will connect to
the Mozambique grid with target power offtakers in Mozambique and
the Southern African Power Pool ("SAPP").
The Tete Solar Project takes full advantage of Mozambique's
leading sustainable energy resources and is fully aligned with
Government's objective to become a champion for energy transition
impacting all Southern Africa.
On 3 May 2023, Solgenics announced that it will shortly be
posting a circular to shareholders (in connection with a proposal
for the cancellation of admission of the ordinary shares of no par
value in the Company ("Ordinary Shares") to trading on AIM (the
"Cancellation"), pursuant to Rule 41 of the AIM Rules for
Companies. Accordingly, if the resolution to approve the
cancellation is approved by shareholders, the last day of dealings
in the Ordinary Shares on AIM is expected to be 6 June 2023, and
the Cancellation is expected to become effective at 7.00 a.m. on 7
June 2023.
The notification below is made in accordance with the
requirements of the MAR.
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 Scott Fletcher
------------------------ -----------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------ -----------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------ -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Solgenics Limited
------------------------ -----------------------------------------
b) LEI 2138003W7PP9STE9J18
------------------------ -----------------------------------------
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 Ordinary shares of no par value
of the financial
instrument,
type of instrument
Identification VGG640631039
code
------------------------ -----------------------------------------
b) Nature of On-market purchase of Ordinary Shares
the transaction
------------------------ -----------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP
1. 0026 1. 3,500,000
------------------
------------------------ -----------------------------------------
d) Aggregated
information
- Aggregated 3,500,000
volume
- Price 0.0026 GBP
------------------------ -----------------------------------------
e) Date of the 10 May 2023
transaction
------------------------ -----------------------------------------
f) Place of the London Stock Exchange, AIM
transaction
------------------------ -----------------------------------------
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END
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May 12, 2023 10:26 ET (14:26 GMT)
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