7 Mar 2016 14:26
Plutus PowerGen Plc / Ticker: PPG / Index: AIM
Plutus PowerGen plc ('PPG' or 'the Company')
Director Dealing
Plutus PowerGen plc, the AIM listed power company focused on the development, construction and operation of flexible stand-by electricity generation in the UK, was advised on 3 March 2016 of dealings in the ordinary shares of 0.1p each in the share capital of the Company ("Ordinary Shares") by Mr James Longley, the Chief Financial Officer of PPG.
1,666,778 Ordinary Shares were sold by Mr Longley at a price of 0.9 pence on 3 March 2016 and 1,666,778 Ordinary Shares were bought by his ISA with Hargreaves Lansdown at a price of 0.9017 pence on 3 March 2016.
Following the transactions detailed above, Mr Longley's beneficial holding of 57,500,000 Ordinary Shares remains unchanged and this holding represents approximately 8.32 per cent. of the Company's issued share capital.
**ENDS**
For further information, please visit www.plutuspowergen.com, or contact:
Charles Tatnall | Plutus PowerGen Plc | Tel: +44 (0) 20 3705 8350 |
Phil Stephens | Plutus PowerGen Plc | Tel: +44 (0) 20 3705 8352 |
Ewan Leggat | SP Angel Corporate Finance LLP | Tel: +44 (0) 20 3470 0470 |
Laura Harrison | SP Angel Corporate Finance LLP | Tel: +44 (0) 20 3470 0470 |
Elisabeth Cowell | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Hugo de Salis | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Notes to Editors
Plutus PowerGen plc is an AIM listed company focused on the development, construction and operation of flexible stand-by power generation sites in the UK. At present, the market dynamics for flexible power generation are positive as a result of the continued downward pressure on capacity available to National Grid to balance supply and demand, leading to their announcements about possible power shortages over the next few years.
Flexible Power generators such as PPG offer a viable and timely solution to the power capacity shortfall in the UK. To this end, PPG is initially focusing on delivering 200MW of capacity by the end of 2017 and currently has a project pipeline of potential development sites with 700MW of power generation capacity.
PPG has a straightforward multi-revenue stream model with large and stable counter-parties and is using project/EIS funding through SPVs to finance construction of the generation assets. This structure has the benefit of limiting dilution to plc shareholders as the assets are financed and built.