George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksADV.L Regulatory News (ADV)

  • There is currently no data for ADV

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Director Fundraise Participation to raise £80,000

26 Jul 2022 07:05

RNS Number : 6903T
Advance Energy PLC
26 July 2022
 

26 July 2022

Advance Energy plc("Advance Energy" or the "Company")

Confirmation of Director Fundraise Participation to raise £80,000

 

Further to the announcement made earlier this morning, concerning the Placing and Intended Director Participation, the Company can confirm that certain directors of Advance ("Directors") have subscribed for 94,117,646 new Ordinary Shares at the Issue Price and 94,117,646 Warrants as set out below (the "Director Participation").

 

Defined terms are as set out in this morning's announcement unless otherwise defined.

 

Application has been made to the London Stock Exchange for the 94,117,646 new Ordinary Shares to be admitted to trading on AIM ("Admission").  It is expected that Admission will become effective and that dealings in respect of the Director Participation Shares will commence at 8.00 a.m. on 29 July 2022. Following Admission, there will be 1,527,613,961 Ordinary Shares in issue.

 

The following Directors have subscribed for Director Participation Shares pursuant to the Director Participation for an investment, in aggregate, of approximately £80,000. Their subscription for new Ordinary Shares and Warrants is on the same terms and conditions as the Placing.

 

Director

No of new Ordinary Shares subscribed for pursuant to the Director Participation

Resulting holding of Ordinary Shares

Resulting % of Ordinary Share Capital following the Placing and Director Participation

No. of Warrants subscribed for pursuant to the Director Participation

Mark Rollins

47,058,823

76,461,976

5.01%

47,058,823

Larry Bottomley

47,058,823

47,058,824

3.08%

47,058,823

 

The Director Participation by certain directors of Advance, as set out above, constitutes a related party transaction under AIM Rule 13. The directors deemed to be independent of the Director Participation, being Ross Warner and Stephen Whyte, having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider the terms of the Director Participation to be fair and reasonable insofar as the Company's shareholders are concerned.

 

The Director Participation Shares have been subscribed for directly with the Company (as to 47,058,823 Ordinary Shares) or through the Placing (as to 47,058,823 Ordinary Shares), subject only to Admission. On Admission, the Company will have 1,527,613,961 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,527,613,961 can be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Enquiries:

Advance Energy plc

Larry Bottomley (Interim CEO)

+44 (0)1624 681 250

 

Strand Hanson Limited (Financial and Nominated Adviser)

Rory Murphy / James Harris / James Bellman

+44 (0)20 7409 3494

 

Buchanan (Public Relations)

Ben Romney / Jon Krinks 

+44 (0)20 7466 5000

 

Tennyson Securities Limited (Joint Broker)

Peter Krens / Ed Haig-Thomas

+44 (0)20 7186 9030

 

Optiva Securities Limited (Joint Broker)

Christian Dennis

+44 (0)20 3411 1881

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, the inside information is now considered to be in the public domain in accordance with the Company's obligations under Article 17 of MAR.

 

PDMR Disclosure

Ordinary Shares

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

1. Mark Rollins

2. Larry Bottomley

 

2.

Reason for the notification

a.

Position/status

1. Non-Executive Chairman

2. Interim CEO

 

b.

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Advance Energy plc

b.

LEI

213800TZWOYU7UFZ5V63

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 of no par value

M00BKSCP798

 

b.

Nature of the transaction

Subscription for new Ordinary Shares

c.

Price(s) and volume(s)

 

Director

Price/share

Volume (s)

1. M Rollins

 

0.085 pence

47,058,823

2. L. Bottomley

 

0.085 pence

47,058,823

d.

Aggregated information

- Aggregated volume

- Price

 

94,117,646

£0.00085 per Ordinary Share

e.

Date of the transactions

26 July 2022

f.

Place of the transactions

London Stock Exchange's AIM Market (XLON)

 

Warrants

1.

Details of the person discharging managerial responsibilities / person closely associated

a.

Name

3. Mark Rollins

4. Larry Bottomley

 

2.

Reason for the notification

a.

Position/status

3. Non-Executive Chairman

4. Interim CEO

 

b.

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Advance Energy plc

b.

LEI

213800TZWOYU7UFZ5V63

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

Warrants over Ordinary Shares of no par value

M00BKSCP798

 

b.

Nature of the transaction

Subscription for Warrants over Ordinary Shares

c.

Price(s) and volume(s)

 

Director

Exercise Price/share

Volume (s)

1. M Rollins

 

0.13 pence

47,058,823

2. L. Bottomley

 

0.13 pence

47,058,823

d.

Aggregated information

- Aggregated volume

- Price

 

94,117,646

N/A

e.

Date of the transactions

26 July 2022

f.

Place of the transactions

London Stock Exchange's AIM Market (XLON)

 

 

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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHDZGZNFKNGZZZ
Date   Source Headline
17th Nov 202210:44 amRNSResult of AGM and Change of Name
31st Oct 20227:00 amRNSExclusivity Extension
19th Oct 20223:00 pmRNSNotice of AGM
10th Oct 20227:00 amRNSFinal Results
9th Sep 20221:36 pmRNSStatement Regarding Recent Price Movement
9th Sep 202211:52 amRNSSuspension - Advance Energy Plc
26th Jul 20227:05 amRNSDirector Fundraise Participation to raise £80,000
26th Jul 20227:00 amRNSPlacing & Intended Subscription to raise £425,000
28th Jun 20222:06 pmRNSSecond Price Monitoring Extn
28th Jun 20222:00 pmRNSPrice Monitoring Extension
28th Jun 202211:05 amRNSSecond Price Monitoring Extn
28th Jun 202211:00 amRNSPrice Monitoring Extension
24th Jun 202211:05 amRNSSecond Price Monitoring Extn
24th Jun 202211:00 amRNSPrice Monitoring Extension
27th May 20224:41 pmRNSSecond Price Monitoring Extn
27th May 20224:35 pmRNSPrice Monitoring Extension
27th May 20227:00 amRNSBuffalo Licence expiry and AIM Rule 15 Cash Shell
1st Apr 20227:00 amRNSDirectorate Change
18th Mar 20227:00 amRNSGrant of Share Options
23rd Feb 20222:05 pmRNSSecond Price Monitoring Extn
23rd Feb 20222:00 pmRNSPrice Monitoring Extension
15th Feb 20224:41 pmRNSSecond Price Monitoring Extn
15th Feb 20224:36 pmRNSPrice Monitoring Extension
7th Feb 202211:06 amRNSSecond Price Monitoring Extn
7th Feb 202211:01 amRNSPrice Monitoring Extension
28th Jan 20227:00 amRNSBoard Changes and Corporate Update
25th Jan 20222:05 pmRNSSecond Price Monitoring Extn
25th Jan 20222:00 pmRNSPrice Monitoring Extension
25th Jan 202211:05 amRNSSecond Price Monitoring Extn
25th Jan 202211:00 amRNSPrice Monitoring Extension
25th Jan 20229:05 amRNSSecond Price Monitoring Extn
25th Jan 20229:00 amRNSPrice Monitoring Extension
24th Jan 20222:06 pmRNSSecond Price Monitoring Extn
24th Jan 20222:01 pmRNSPrice Monitoring Extension
24th Jan 202211:06 amRNSSecond Price Monitoring Extn
24th Jan 202211:00 amRNSPrice Monitoring Extension
24th Jan 20227:00 amRNSBuffalo Project Update
21st Jan 20222:05 pmRNSSecond Price Monitoring Extn
21st Jan 20222:00 pmRNSPrice Monitoring Extension
19th Jan 20229:05 amRNSSecond Price Monitoring Extn
19th Jan 20229:00 amRNSPrice Monitoring Extension
19th Jan 20227:50 amRNSBuffalo-10 Well Drilling Update
18th Jan 202212:00 pmRNSInterim Results
14th Jan 20224:41 pmRNSSecond Price Monitoring Extn
14th Jan 20224:35 pmRNSPrice Monitoring Extension
14th Jan 20228:00 amRNSBuffalo-10 Drilling Update
6th Jan 20227:00 amRNSBuffalo Project Update
31st Dec 20217:00 amRNSBuffalo Project Update
22nd Dec 20217:00 amRNSBuffalo Project Update
13th Dec 20217:00 amRNSBuffalo Project Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.