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Prospex Energy PLC announced on 17 March 2026 the conversion of £152,515.07 into convertible loan notes, resulting in the issue of 5,083,836 new ordinary shares of 0.1p each at a conversion price of 3.00p per share. The Company has applied for admission of these new shares to AIM, expected around 20 March 2026. Following admission, the total ordinary shares in issue will increase from 428,710,121 to 433,793,957.
| Date | 17 Mar 2026 |
| Time | 10:30:50 |
| Category | Corporate updates |
| ID | 9816W |
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
17 March 2026
Prospex Energy PLC
('Prospex' or the 'Company')
Conversion of Loan Notes and TVR
Prospex Energy PLC, the AIM-quoted investing company focused on European gas and power projects, announces that it has received a notice to convert £152,515.07 into convertible loan notes in exchange for the issue of 5,083,836 new ordinary shares of 0.1p each in the Company ("Ordinary Shares").
The abovementioned convertible loan note was issued in January 2026 and is convertible at 3.00p per share pursuant to a Convertible Loan Note Deed dated 17 December 2025.
Admission to Trading and Total Voting Rights
The Company has applied to the London Stock Exchange for admission of 5,083,836 new Ordinary Shares to trading on AIM ('Admission') as a result of the above conversion. Admission is expected to occur on or around 20th March 2026. There are currently 428,710,121 Ordinary Shares in issue. Following Admission there will be a total of 433,793,957 Ordinary Shares in issue. This will be the number of Ordinary Shares that may 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 FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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For further information visit www.prospex.energy or contact the following:
|
Tom Reynolds |
Prospex Energy PLC |
Tel: +44 (0) 20 7236 1177 |
|
Ritchie Balmer |
Strand Hanson Limited |
Tel: +44 (0) 20 7409 3494 |
|
Andrew Monk (Corporate Broking) |
VSA Capital Limited |
Tel: +44 (0) 20 3005 5000 |
|
Neil Passmore Leif Powis |
Hannam & Partners |
Tel: +44 (0) 20 7907 8500 |
|
Ana Ribeiro / Charlotte Page |
St Brides Partners Limited |
Tel: +44 (0) 20 7236 1177 |
Notes
Prospex Energy PLC is an AIM quoted investing company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low-cost re-evaluation techniques to identify and de-risk prospects. The Company will rapidly scale up gas production in the short term to generate internal revenues that can then be deployed to develop the asset base and increase production further.