16th Jul 2019 07:00
Plutus PowerGen Plc / Ticker: PPG / Index: AIM
16 July 2019
PLUTUS POWERGEN PLC
("Plutus", the "Group" or the "Company")
Issue of Equity
Plutus PowerGen (AIM: PPG), the AIM quoted power company focused on the development and operation of flexible energy generation ("FlexGen") projects in the UK, announces that it has agreed to issue 10,909,090 new ordinary shares of 0.1p each ("Ordinary Shares") (the "Fee Conversion Shares") to certain advisers of the Company in lieu of professional services provided to the Company and 36,363,636 new ordinary shares to the convertible loan note holder in satisfaction of the outstanding £100,000 of unsecured convertible loan notes originally issued by the Company on 18 December 2014 (the "Debt Conversion Shares").
The Fee Conversion Shares and Debt Conversion Shares have been issued at a price of 0.275p per share being the mid-market closing price on 15 July 2019.
Application will be made to the London Stock Exchange for a total of 47,272,726 Ordinary Shares to be admitted to trading on AIM and it is expected that such admission will occur at 8.00 a.m. on 22 July 2019.
Following Admission, the total number of issued Ordinary Shares in the Company will be 872,534,994 ordinary shares and consequently the total number of voting rights in the Company will be 872,534,994. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in the share capital of the Company under the Disclosure and Transparency Rules.
**ENDS**
For further information, please visit www.plutuspowergen.com, or contact:
Plutus PowerGen Plc | +44 (0)20 7582 6598 |
Charles Tatnall, Executive Chairman | |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) | +44 (0)20 3328 5656 |
Nick Athanas James Hornigold
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Turner Pope Investments (TPI) Limited (Joint Broker) | +44 (0)20 3621 4120 |
Andy Thacker | |
St Brides Partners Limited (Financial PR) | +44 (0)20 7236 1177 |
Isabel de Salis | |
Related Shares:
PPG.L