13 Mar 2019 08:44
13 March 2019
PRESIDENT ENERGY PLC
("President", the "Company" or "President Energy")
PDMR / Director Shareholding
President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in South America announces that, further to the Offer for Subscription and Loan Conversion announced on 11 March 2019, certain notifications in accordance with the requirements of the EU Market Abuse Regulation in relation to the participation of certain PDMRs in the Offer for Subscription and Loan Conversion are required.
These notifications are set out in the Appendix to this announcement.
For further information please contact:
President Energy PLC Peter Levine, Chairman Rob Shepherd, Group FD |
+44 (0) 207 016 7950
|
finnCap (Nominated Advisor & Joint Broker) Christopher Raggett, Scott Mathieson |
+44 (0) 207 220 0500 |
Panmure Gordon (Joint Broker) | |
Charles Lesser, Dominic Morley | +44 (0) 207 886 2500 |
Tavistock (Financial PR) Nick Elwes, Simon Hudson |
+44 (0) 207 920 3150 |
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 has operated interests in the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions, Rio Negro Province as well as in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW 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.
The Group is also 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, including the IFC, part of the World Bank Group, an in-country management team as well as a Board whose interests are aligned to those of its shareholders, President Energy gives UK investors rare access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.
Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the circular sent to shareholders on 25 February 2019 unless the context requires otherwise. US$ / £Sterling exchange rates used in this announcement are the same as the rates quoted in the circular sent to shareholders on 25 February 2019
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name of PDMR: | Peter Levine | ||||
b) | Name of Person Closely Associated: | PLLG Investments Limited | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Chairman and Chief Executive Officer | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
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, type of instrument: Identification code: | Ordinary Shares of 1p each
ISIN: GB00B3DDP128 | ||||
b) | Nature of the transaction: | Purchase of Offer Shares | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Nature of the transaction: | Loan Conversion Shares | ||||
e) | Price(s) and volume(s): |
| ||||
f) | Aggregated information: · Aggregated volume: · Price: | 16,200,000
8 Pence | ||||
g) | Date of the transaction: | 11 March 2019 | ||||
h) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Rob Shepherd | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Group Finance Director | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
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, type of instrument: Identification code: | Ordinary Shares of 1p each
ISIN: GB00B3DDP128 | ||||
b) | Nature of the transaction: | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 11 March 2019 | ||||
f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Warren Levy | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Chief Executive Officer, Argentina | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
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, type of instrument: Identification code: | Ordinary Shares of 1p each
ISIN: GB00B3DDP128 | ||||
b) | Nature of the transaction: | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 11 March 2019 | ||||
f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Jordan Coleman | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Production Manager, Argentina | ||||
b) | Initial notification/Amendment: | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
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, type of instrument: Identification code: | Ordinary Shares of 1p each
ISIN: GB00B3DDP128 | ||||
b) | Nature of the transaction: | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 11 March 2019 | ||||
f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||