MEN Molecular Energies Plc

TIDMPPC

RNS Number : 6901W

President Energy PLC

24 December 2021

24 December 2021

PRESIDENT ENERGY PLC

("President" or the "Company")

Dividend in specie in Atome Energy PLC

Important information

President Energy (AIM: PPC), the energy company with a diverse portfolio of energy assets provides an update in relation to the distribution by way of dividend in specie of its holding in Atome Energy PLC ("Atome").

Dividend in specie

On 17 December 2021, the Company published details confirming that shareholders would receive

1 Ordinary Share in Atome for every 169 Ordinary Shares in President held on the Record Date.

Shareholders located in USA, Australia, Canada, Japan, South Africa, New Zealand ("Restricted Territories") are ineligible to receive Ordinary Shares in Atome. In such cases, these shares will be transferred to Atome's broker for orderly disposal in the market with any proceeds (after deduction of commissions and fees) remitted to the relevant shareholders. The disposal is expected to take place as soon as reasonably practicable following Admission with remittances by cheque immediately after.

Contact:

 
  President Energy PLC                       +44 (0) 207 016 7950 
   Nikita Levine, Investor Relations          info@presidentpc.com 
  finnCap (Nominated Advisor and broker) 
   Christopher Raggett, Tim Harper           +44 (0) 207 220 0500 
 

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 the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions, and Angostura exploration contract, all of which are situated in the Río Negro Province in the Neuquén Basin of Argentina 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.

Atome Energy is the green hydrogen and ammonia subsidiary of President Energy PLC with intended operations in the Americas and Europe and a targeted separate listing on the London Stock Exchange market later in 2021.

With a strong strategic and institutional base of support, including the international commodity trader and logistics company Trafigura, an in-country management team as well as the Chairman whose interests as the largest shareholder are aligned to those of its shareholders, President Energy gives UK investors access to an energy growth story combined with world class standards of corporate governance, environmental and social responsibility.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Peter Levine, Chairman.

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END

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December 24, 2021 01:59 ET (06:59 GMT)

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