28 December
2018
Andalas Energy and
Power Plc
(‘Andalas’ or the
‘Company’)
Director’s
Dealing
Andalas Energy and Power PLC announces the following dealing in
the ordinary shares of the Company made by, Simon Gorringe, Chief Executive Officer of the
Company.
On 27 December 2018, Mr Gorringe
acquired 3,000,000 Andalas ordinary shares at a price of
0.66 pence per share, representing
0.82% of the Company's issued ordinary share capital.
Following the acquisition, Mr Gorringe now holds an interest of
5,057,503 Andalas ordinary shares, representing approximately 1.4%
of the Company's issued ordinary share capital.
Simon Gorringe said, “My purchase
of shares today reflects my belief that Andalas is well positioned
having made significant progress in securing an exciting future for
the Company.”
“I believe in the potential of Andalas; we have the right
strategy, an excellent team and we have a portfolio of
opportunities each with near term activity. My
acquisition of shares is in addition to other commitments made by
myself, and the rest of the executive directors, to support Andalas
as we progress to delivering on our projects in 2019. Since
the board changes in April 2018, the
executive Directors have sought to preserve the Company’s cash by
keeping costs tightly under control, including continuing to only
be paid part of their salary entitlement, which is alongside the
directors write off of $300,000 of
contractual unpaid salaries that was announced on 22 May 2018.”
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 ('MAR). Upon the publication of this
announcement via a Regulatory Information Service ('RIS'), this
inside information is now considered to be in the public
domain.
For further information, please contact:
Simon Gorringe |
Andalas Energy and Power Plc |
Tel: +62 21 2965 5800 |
Roland Cornish/ James Biddle |
Beaumont Cornish Limited
(Nominated Adviser) |
Tel: +44 20 7628 3396 |
Colin Rowbury
|
Novum Securities Limited
(Joint Broker) |
Tel: +44 207 399 9427 |
Christian Dennis |
Optiva Securities Limited
(Joint Broker) |
Tel: +44 20 3411 1881 |
Stefania Barbaglio |
Cassiopeia Services
Limited
(Public Relations) |
Stefania@cassiopeia-ltd.com |
Notification of a Transaction pursuant to Article 19(1) of
Regulation (EU) No. 596/2014 |
1 |
Details
of the person discharging managerial responsibilities/person
closely associated |
a. |
Name |
Simon
Gorringe |
2 |
Reason for
notification |
|
a. |
Position/Status |
Executive
Director |
b. |
Initial
notification/
Amendment |
Initial |
3 |
Details
of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor |
a. |
Name |
Andalas
Energy and Power 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
Identification Code |
Ordinary
Shares |
b. |
Nature of the
transaction |
On market
Purchase |
c. |
Price(s)
and volume(s) |
|
|
|
|
|
|
Price(s) |
Volume(s) |
|
0.0066 GBP |
3,000,000 |
|
|
d. |
Aggregated information
- Aggregated Volume
- Price |
3,000,000
0.0066 GBP |
e. |
Date of the
transaction |
27/12/2018 |
f. |
Place of the
transaction |
UK |
|
|
|
|
|
|
|
|
|