29 Jul 2011 07:00
29 July 2011
Andes Energia plc
("Andes" or the "Company")
Issue of Equity
and
Directors' Dealings
The Board of Andes announces certain directors' transactions in the ordinary shares of the Company ("Ordinary Shares").
Investment of outstanding fees in new Ordinary Shares
Messrs. Neil Bleasdale, Luis Alvarez Poli and Marcelo Comba, who are Directors of Andes, and EP&F Capital plc, a company in which Nigel Duxbury, a Director of Andes, is a director and shareholder, have elected to invest outstanding fees of approximately £154,000 due to them in 716,524 new Ordinary Shares to be issued by the Company at a placing price of 21.5 pence per Ordinary Share as follows:
Ordinary Shares placed at 21.5p | |
Mr. Neil Bleasdale | 121,125 |
Mr. Luis Alvarez Poli | 123,967 |
Mr. Marcelo Comba | 121,125 |
EP&F Capital plc | 350,307 |
Application has been made for the 716,524 new Ordinary Shares to be admitted to AIM. It is expected that admission of the new Ordinary Shares will become effective on 3 August 2011.
Directors' Dealings
In addition, the Board has received notification from the following directors that on 28 July 2011 they have purchased a total of 200,000 Ordinary Shares at 21.5p each:
Ordinary Shares purchased at 21.5p | |
Mr. Neil Bleasdale | 106,977 |
Mr. Nigel Duxbury | 93,023 |
Following these transactions, the above Directors' beneficial interest in the Company is as follows
Ordinary Shares held | % of enlarged share capital | |
Mr. Neil Bleasdale | 283,102 | 0.20 |
Mr. Luis Alvarez Poli | 143,967 | 0.10 |
Mr. Marcelo Comba | 146,125 | 0.10 |
Mr Nigel Duxbury | 523,023 | 0.36 |
In addition, EP&F Capital plc, a company in which Mr Nigel Duxbury is a director and shareholder, will hold 350,307 Ordinary Shares representing approximately 0.24 per cent. of the enlarged issued share capital of the Company.
Total Voting Rights
Following admission of the 716,524 Ordinary Shares, the total number of issued Ordinary Shares will be 144,855,664 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.
For further information please contact:
Andes Energia plc | Luis Alvarez Poli, CEO Nigel Duxbury, FD
| T: +442074955326 |
Arbuthnot Securities | Antonio Bossi Ed Groome
| T: +442070122000 |
Buchanan
| Tim Thompson Ben Romney | T: +442074665000 |
Note to Editors:
Andes is a Latin American energy group, with oil and gas, electricity distribution and hydro-electric power interests in Argentina. The Company's focus is on the Argentinean energy sector, which it believes offers premium assets at undervalued prices.