President Energy PLC Director/PDMR Shareholding (9523Q)
December 05 2016 - 4:45AM
UK Regulatory
TIDMPPC
RNS Number : 9523Q
President Energy PLC
05 December 2016
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 Ordinary shares of 1p
instrument, type of each
instrument
---- -------------------------------- ----------------------------
Identification code GB00B3DDP128
---- -------------------------------- ----------------------------
b) Nature of the transaction Acquisition of ordinary
shares
---- -------------------------------- ----------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---- -------------------------------- ------------ --------------
GBP0.06 181,616,211
-------------------------------------------------- --------------
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 +44 (0) 207 016 7950
Miles Biggins, COO +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, +44 (0) 207 236
Tom Rider, Jenny Wyllie 1010
Vigo Communications
Chris McMahon
Patrick D'Ancona +44 (0)20 7830 9700
This information is provided by RNS
The company news service from the London Stock Exchange
END
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