5 Nov 2015 17:45
Plutus PowerGen plc / Ticker: PPG / Index: AIM
5 November 2015
Plutus PowerGen plc ('PPG' or 'the Company')
Directors Dealing
Plutus PowerGen plc, the flexible standby power generation developer and operator in the UK, announces that Paul Lazarevic, Chief Operating Officer of the Company, bought 762,308 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") in two tranches, 142,308 Ordinary Shares at a price of 1.29 pence per Ordinary Share on 3 November 2015 and 620,000 Ordinary Shares at a price of 1.29 pence per Ordinary Share on 4 November 2015.
Following these transactions Mr. Lazarevic now has a beneficial interest in 32,203,379 Ordinary Shares representing approximately 5.64% of the total voting rights in the Company.
The 762,308 Ordinary Shares bought by Mr. Lazarevic on 3rd and 4th of November and the 1,441,071 Ordinary Shares bought on the 2nd November and the 30th October are held in his self-invested personal pension scheme held in the name of Pershing Securities Limited. The 30,000,000 Ordinary Shares are held by Mr. Lazarevic in his own name.
Mr. Lazarevic informed the Company of the details of his dealings in the Company's Ordinary Shares on the same day on which the acquisition of each acquisition was effected.
**ENDS**
For further information, please contact:
Charles Tatnall | Plutus PowerGen plc | Tel: +44 (0) 20 8720 6562 |
Phil Stephens | Plutus PowerGen plc | Tel: +44 (0) 20 8720 6562 |
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 |
Felicity Winkles | St Brides Partners | Tel: +44 (0) 20 7236 1177 |
Elisabeth Cowell | St Brides Partners | 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 over the next three years and currently has a project pipeline of potential development sites with over 500MW 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.