The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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
18th Oct 20172:24 pmPRNSigns MOU with PT Pertamina and Siemens
5th Sep 20174:59 pmPRNHolding(s) in Company
4th Sep 201712:30 pmPRNHolding(s) in Company
31st Aug 201712:30 pmPRNResult of Extraordinary General Meeting
14th Aug 20172:50 pmPRNSettlement of loan note, placing and notice of EGM
14th Aug 20171:32 pmPRNFirst Wellhead IPP Consortium Agreement Clarification
8th Aug 20177:00 amPRNFirst Wellhead IPP Consortium Agreement
31st Jul 20177:00 amPRNCompany Update
17th Jul 201710:02 amPRNSigns Agreement with PT PP Energi
7th Jun 20177:00 amPRNAdmission of Placing Shares & Total Voting Rights
25th May 201712:39 pmPRNDirector Shareholding
23rd May 20173:48 pmPRNAdmission of Placing Shares & Total Voting Rights
23rd May 20177:30 amRNSRestoration - Andalas Energy and Power Plc
23rd May 20177:00 amPRNPlacing, Lifting of Suspension & Operations Update
9th May 20178:04 amPRNResponse to Media Speculation
8th May 20174:30 pmRNSSuspension - Andalas Energy and Power Plc
3rd May 20177:00 amPRNOperations Update
26th Apr 20179:45 amPRNExtension of Term of Loan note
25th Apr 201712:59 pmPRNUpdate on Tuba Obi East
24th Apr 20177:00 amPRNOperations Update
27th Feb 20177:00 amPRNOperations Update
1st Feb 20177:00 amPRNInterim Results
1st Feb 20177:00 amPRNLoan Note
16th Dec 20167:00 amPRNFirst G2P Project Submitted for Government Approval
24th Nov 20163:05 pmPRNResult of AGM
4th Nov 20167:00 amPRNGas to Power Update
2nd Nov 20169:30 amPRNUpdated Company Presentation
31st Oct 20164:30 pmPRNPosting of Report and Accounts and Notice of AGM
28th Oct 20167:00 amPRNFinal Results
20th Sep 20167:00 amPRNAppointment of Non-Executive Director
15th Sep 20169:00 amPRNCorporate Update & Company Presentation
1st Sep 20167:00 amPRNPartners with Indonesian National Oil Company
15th Aug 201610:00 amPRNChairman's Blog
10th Aug 20167:00 amPRNPertamina Approves TOE Proof of Concept Work Programme
6th Jul 20167:00 amPRNCorporate Update
2nd Jun 20167:51 amPRNExercise of Warrants & Total Voting Rights
13th May 20162:32 pmPRNResults of GM & Issue of Bonus Warrants
3rd May 20165:25 pmPRNUpdated Corporate Presentation
28th Apr 20167:30 amRNSRestoration - Andalas Energy & Power Plc
27th Apr 20165:30 pmRNSSch 1 Update - Andalas Energy & Power Plc
27th Apr 20164:58 pmPRNAdmission
27th Apr 20164:45 pmRNSSchedule 1 - Andalas Energy & Power Plc
11th Apr 20161:30 pmPRNNew Website
31st Mar 20164:25 pmPRNIssue of Zero Coupon Loan Note
8th Mar 20161:35 pmPRNSigns Tuba Obi East gas project farm-in agreement
3rd Feb 20162:10 pmPRNAgreement to Farm-in to Indonesian Gas Project
3rd Feb 20167:01 amPRNBoard Changes
3rd Feb 20167:00 amPRNChange of NOMAD & Broker
1st Feb 20167:00 amRNSResignation of Directors
26th Jan 20169:30 amRNSHalf Yearly Report

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.