TIDMADV

RNS Number : 6903T

Advance Energy PLC

26 July 2022

26 July 2022

Advance Energy plc

("Advance Energy" or the "Company")

Confirmation of Director Fundraise Participation to raise GBP80,000

Further to the announcement made earlier this morning, concerning the Placing and Intended Director Participation, the Company can confirm that certain directors of Advance ("Directors") have subscribed for 94,117,646 new Ordinary Shares at the Issue Price and 94,117,646 Warrants as set out below (the "Director Participation").

Defined terms are as set out in this morning's announcement unless otherwise defined.

Application has been made to the London Stock Exchange for the 94,117,646 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in respect of the Director Participation Shares will commence at 8.00 a.m. on 29 July 2022. Following Admission, there will be 1,527,613,961 Ordinary Shares in issue.

The following Directors have subscribed for Director Participation Shares pursuant to the Director Participation for an investment, in aggregate, of approximately GBP80,000. Their subscription for new Ordinary Shares and Warrants is on the same terms and conditions as the Placing.

 
 Director           No of new Ordinary   Resulting holding   Resulting       No. of Warrants 
                     Shares subscribed    of Ordinary         % of Ordinary   subscribed 
                     for pursuant         Shares              Share Capital   for pursuant 
                     to the Director                          following       to the Director 
                     Participation                            the Placing     Participation 
                                                              and Director 
                                                              Participation 
 Mark Rollins               47,058,823          76,461,976            5.01%        47,058,823 
                   -------------------  ------------------  ---------------  ---------------- 
 Larry Bottomley            47,058,823          47,058,824            3.08%        47,058,823 
                   -------------------  ------------------  ---------------  ---------------- 
 

The Director Participation by certain directors of Advance, as set out above, constitutes a related party transaction under AIM Rule 13. The directors deemed to be independent of the Director Participation, being Ross Warner and Stephen Whyte, having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider the terms of the Director Participation to be fair and reasonable insofar as the Company's shareholders are concerned.

The Director Participation Shares have been subscribed for directly with the Company (as to 47,058,823 Ordinary Shares) or through the Placing (as to 47,058,823 Ordinary Shares), subject only to Admission. On Admission, the Company will have 1,527,613,961 Ordinary Shares in issue. The Company holds no shares in treasury. Accordingly, the figure of 1,527,613,961 can be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

 
 Advance Energy plc 
  L arry Bottomley (I nterim CEO)                           +44 (0)1624 681 250 
 
 Strand Hanson Limited (Financial and Nominated Adviser) 
  Rory Murphy / James Harris / James Bellman                +44 (0)20 7409 3494 
 
 Buchanan (Public Relations) 
  Ben Romney / Jon Krinks                                   +44 (0)20 7466 5000 
 
 Tennyson Securities Limited (Joint Broker) 
  Peter Krens / Ed Haig-Thomas                              +44 (0)20 7186 9030 
 
 Optiva Securities Limited (Joint Broker) 
  Christian Dennis                                          +44 (0)20 3411 1881 
 
 
 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, the inside information is now considered to be in the public domain in accordance with the Company's obligations under Article 17 of MAR.

PDMR Disclosure

Ordinary Shares

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a.   Name                                         1. Mark Rollins 
                                                    2. Larry Bottomley 
     --------------------------------  ------------------------------------------------ 
 2.   Reason for the notification 
     ---------------------------------------------------------------------------------- 
 a.   Position/status                         1. Non-Executive Chairman 
                                               2. Interim CEO 
     --------------------------------  ------------------------------------------------ 
 b.   Initial notification/Amendment    Initial Notification 
     --------------------------------  ------------------------------------------------ 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------------------- 
 a.   Name                              Advance Energy plc 
     --------------------------------  ------------------------------------------------ 
 b.   LEI                               213800TZWOYU7UFZ5V63 
     --------------------------------  ------------------------------------------------ 
 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      Ordinary Shares of no par value 
       instrument, type of instrument    M00BKSCP798 
       Identification code 
     --------------------------------  ------------------------------------------------ 
 b.   Nature of the transaction         Subscription for new Ordinary 
                                         Shares 
     --------------------------------  ------------------------------------------------ 
 c.   Price(s) and volume(s)              Director           Price/share    Volume 
                                                                              (s) 
                                           1. M Rollins       0.085 pence    47,058,823 
                                                             -------------  ----------- 
                                           2. L. Bottomley    0.085 pence    47,058,823 
                                                             -------------  ----------- 
     --------------------------------  ------------------------------------------------ 
 d.        Aggregated information 
             *    Aggregated volume       94,117,646 
                                          GBP0.00085 per Ordinary Share 
 
             *    Price 
     --------------------------------  ------------------------------------------------ 
 e.   Date of the transactions          26 July 2022 
     --------------------------------  ------------------------------------------------ 
 f.   Place of the transactions         London Stock Exchange's AIM 
                                         Market (XLON) 
     --------------------------------  ------------------------------------------------ 
 

Warrants

 
 1.   Details of the person discharging managerial responsibilities 
       / person closely associated 
 a.   Name                                         3. Mark Rollins 
                                                    4. Larry Bottomley 
     --------------------------------  ------------------------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------------------- 
 a.   Position/status                         3. Non-Executive Chairman 
                                               4. Interim CEO 
     --------------------------------  ------------------------------------------------- 
 b.   Initial notification/Amendment    Initial Notification 
     --------------------------------  ------------------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------------------- 
 a.   Name                              Advance Energy plc 
     --------------------------------  ------------------------------------------------- 
 b.   LEI                               213800TZWOYU7UFZ5V63 
     --------------------------------  ------------------------------------------------- 
 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      Warrants over Ordinary Shares 
       instrument, type of instrument    of no par value 
       Identification code               M00BKSCP798 
     --------------------------------  ------------------------------------------------- 
 b.   Nature of the transaction         Subscription for Warrants over 
                                         Ordinary Shares 
     --------------------------------  ------------------------------------------------- 
 c.   Price(s) and volume(s)              Director           Exercise        Volume 
                                                               Price/share     (s) 
                                           1. M Rollins       0.13 pence      47,058,823 
                                                             --------------  ----------- 
                                           2. L. Bottomley    0.13 pence      47,058,823 
                                                             --------------  ----------- 
     --------------------------------  ------------------------------------------------- 
 d.        Aggregated information 
             *    Aggregated volume       94,117,646 
                                          N/A 
 
             *    Price 
     --------------------------------  ------------------------------------------------- 
 e.   Date of the transactions          26 July 2022 
     --------------------------------  ------------------------------------------------- 
 f.   Place of the transactions         London Stock Exchange's AIM 
                                         Market (XLON) 
     --------------------------------  ------------------------------------------------- 
 

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END

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July 26, 2022 02:05 ET (06:05 GMT)

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