5th Dec 2016 09:45
5 December 2016
PRESIDENT ENERGY PLC
("President", "the Company" or "President Energy")
DIRECTOR/PDMR SHAREHOLDING
President Energy (AIM: PPC), the South American focussed oil and gas company with significant exploration and development opportunities in Paraguay and production assets in Argentina announces that, earlier today, it was informed that PLLG Investments Limited (a company controlled and beneficially owned by Peter Levine, the Chief Executive Officer and Executive Chairman) had acquired 181,616,211 new Ordinary Shares.
As announced on 15 November 2016, PLLG acquired an aggregate of 181,616,211 new Ordinary Shares pursuant to the Loan Restructuring and Fundraising, details of which are referred to in the table below.
Following the acquisition of these shares, PLLG now holds 304,404,547 Ordinary Shares, representing 31.92 per cent. of the existing issued Ordinary Share capital of the Company.
The announcement made on 15 November 2016 also referred to the fact that, pursuant to Peter Levine's continued commitment to donate to charitable causes, PLLG had undertaken to gift to an independent charitable trust and/or charities 20,000,000 of its holding of existing Ordinary Shares. Following the gifting of the 20,000,000 Ordinary Shares, which is expected to occur shortly, Peter Levine and PLLG will cease to hold any control over or interest in the voting rights attaching to those shares. PLLG is expected to hold 284,404,547 Ordinary Shares after the gifting of the shares (representing approximately 29.82 per cent. of the current issued Ordinary Share capital) and a further announcement will be made in due course in this regard. Pending the transfer of the 20,000,000 existing Ordinary Shares, PLLG and Peter Levine have undertaken not to exercise the voting rights attaching to 27,500,000 of the Ordinary Shares held by PLLG.
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 | Peter Levine | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Director) | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | President Energy plc | |
b) | LEI | - | |
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 | Ordinary shares of 1p each | |
Identification code | GB00B3DDP128 | ||
b) | Nature of the transaction | Acquisition of ordinary shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.06 | 181,616,211 | ||
d) | Aggregated information | N/A (single transaction) | |
Aggregated volume | N/A | ||
Price | N/A | ||
e) | Date of the transaction | 5 December 2016 | |
f) | Place of the transaction | Outside of a trading venue | |
Terms in this announcement have the meaning given to them in the Circular issued in connection with the Fundraising and Loan Restructuring on 16 November 2016.
Contact:
President Energy PLC Peter Levine, Chairman Miles Biggins, COO
|
+44 (0) 207 016 7950 +44 (0) 207 016 7950
|
Peel Hunt LLP (Nominated Advisor & Joint Broker) Richard Crichton, Ross Allister, Chris Burrows
|
+44 (0) 207 418 8900 |
BMO Capital Markets (Joint Broker) Jeremy Low, Neil Haycock, Tom Rider, Jenny Wyllie
| +44 (0) 207 236 1010
|
Vigo Communications Chris McMahon Patrick D'Ancona | +44 (0)20 7830 9700 |
Related Shares:
PPC.L