Path Investments plc General Meeting Statement (9800S)
June 29 2018 - 2:00AM
UK Regulatory
TIDMPATH
RNS Number : 9800S
Path Investments plc
29 June 2018
Path Investments plc
("Path" or the "Company")
General Meeting Statement
Path Investments plc (TIDM: PATH) will be holding a General
Meeting today at 5 p.m. at the offices of Womble Bond Dickinson
(UK) LLP, 4 More London Riverside, London, SE1 2AU. Christopher
Theis, Chief Executive Officer, will provide the following trading
update at today's meeting:
"As previously announced, the Company intends to undertake a
fund raising and to seek admission of the Company's Ordinary Shares
to trading on the AIM Market of the London Stock Exchange plc
("AIM") in conjunction with the completion of the acquisition of a
50% participating interest in an onshore producing conventional gas
field, the Alfeld-Elze II Licence and Gas Field in Germany, located
some 22 km south of Hannover (the "Proposed Transaction").
The Company confirms that progress continues to be made in
preparing for the proposed admission to AIM and in delivering an
efficient financial structure for the Proposed Transaction, but
there can be no certainty at this time that it will be successfully
completed.
The macro economic factors supporting the Proposed Transaction
are strong with the German government's target to phase out nuclear
power generation by 2022, along with the retirement of the majority
of Germany's coal fired power stations, with a long-term focus on
the development of renewable energy sources. The Company believes
that natural gas, and the flexibility it provides in meeting
fluctuations in demand, will remain the most favourable source of
primary energy consumption after renewables during Germany's energy
transition.
The Company is also pleased to announce the appointment of
Cantor Fitzgerald as joint financial adviser and broker to the
Company as well as bookrunner in the proposed fund raising."
Further announcements will be made, as appropriate, in due
course.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
For further information please contact:
Path Investments plc
Christopher Theis, Andy Yeo +44 (0) 20 3934 6632
Cantor Fitzgerald (Joint financial Adviser, Broker and
Bookrunner)
Nick Tulloch +44 (0) 131 257 4634
Shard Capital (Joint Financial Adviser and Broker)
Simon Leathers, Damon Heath +44 (0) 20 7186 9900
IFC Advisory (Financial PR & IR)
Tim Metcalfe, Heather Armstrong, Miles Nolan +44 (0) 20 3934
6630
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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