7 Feb 2020 14:19
7 February 2020
PRESIDENT ENERGY PLC
("President" or the "Company")
PDMR Shareholding
President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily South America, announces that, further to the Loan Conversion announced on 20 January 2020 and the participation of Peter Levine, Chairman and Chief Executive Officer, in said Loan Conversion, certain notifications for accordance with the requirements of the EU Market Abuse Regulation are required.
The notification is set out in the Appendix to this announcement.
Contact:
President Energy PLC Peter Levine, Chairman Rob Shepherd, Group FD
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+44 (0) 207 016 7950
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finnCap (Nominated Advisor) Christopher Raggett, Scott Mathieson | +44 (0) 207 220 0500 |
Whitman Howard (Broker) Hugh Rich, Grant Barker
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+44 (0) 207 659 1234 |
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 Puesto Flores, Estancia Vieja, Puesto Prado, Angostura and Las Bases, Rio Negro Province 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.
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014
Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the circular sent to shareholders on 22 January 2020 unless the context requires otherwise.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | 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
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b) | Nature of the transaction: | Loan Conversion Shares | ||||
c) | Price(s) and volume(s): |
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d) | Aggregated information: ·; Aggregated volume: ·; Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 06 February 2020 | ||||
f) | Place of the transaction: | AIM, London Stock Exchange (XLON) | ||||