6 Jun 2018 17:19
6 June 2018
PRESIDENT ENERGY PLC
("President" or "the Company")
Director/PDMR Shareholding
President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, announces that Jorge Bongiovanni, Independent Non-Executive Director has today purchased a total of 81,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares").
Following this purchase, Mr Bongiovanni has an interest in 157,179 Ordinary Shares representing 0.014 per cent. of the Company's issued share capital.
1. | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Mr Jorge Bongiovanni | |
2. | Reason for the notification | ||
(a) | Position/status | Independent Non-Executive Director | |
(b) | Initial notification/ Amendment | Initial notification | |
3. | Details of the issuer | ||
(a) | Name | President Energy plc | |
(b) | LEI | 213800MA2ZN22I4ITA79 | |
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 | President Energy plc Ordinary Shares of 1p each | |
(b) | Identification code of the Financial Instrument | ISIN: GB00B3DDP128 | |
(c) | Nature of the transaction | Acquisition | |
(d) | Price(s) and volume(s) | Price(s) | Volume(s) |
81,000 | 9.3p | ||
(e) | Aggregated information - Aggregated volume - Price |
- 81,000 - 9.3p | |
(f) | Date of the transaction | 6 June 2018 | |
(g) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | |
Contact:
President Energy PLC Peter Levine, Chairman, Chief Executive Rob Sheppard, Group FD |
+44 (0) 207 016 7950
|
finnCap (Nominated Advisor & Joint Broker) Christopher Raggett, Scott Mathieson, Andrew Burdis
|
+44 (0) 207 220 0573 |
BMO Capital Markets (Joint Broker) Jeremy Low, Neil Haycock, Tom Rider
|
+44 (0) 207 236 1010
|
Camarco Financial PR Billy Clegg, Owen Roberts, Violet Wilson |
+44 (0) 203 757 4980 |
Notes to Editors
President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets. The Company currently has independently assessed 1P reserves in excess of 15 MMboe and 2P reserves of more than 27 MMboe.
The Company has operated interests in the Puesto Flores and Estancia Vieja Concession, Rio Negro Province, in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. The Company is focused on growing production in the near term in Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.
President Energy's third largest shareholder is the IFC, part of the World Bank Group and is actively pursuing value accretive acquisitions of high quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support and an in-country management team, President Energy gives UK investors rare access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014