Pensana Plc - Update on GBP 2 million directors loan facility, Issue of Equity and Director Dealings
23 July 2024
Pensana Plc
("Pensana" or the "Company")
Update on GBP 2 million directors loan facility
Issue of Equity and Director Dealings
Pensana (PRE.L) announces that further to the GBP 2 million facility made available to the Company (PRE.L) by two of its directors, as announced on 28 March 2024 (the "Facility"), the Chairman, Mr Paul Atherley, has sold 1,500,000 ordinary shares and will use the proceeds to make GBP 250,000 available to the Company under the Facility as working capital support to the Company whilst it finalises its main fundraising for the Longonjo project.
To avoid incurring interest costs, the Company wishes to settle the ensuing amount due under the Facility as soon as possible and intends to do so by the issue to the Chairman of 1,500,000 ordinary shares being equal to the number sold by the Chairman, at an effective price of 16.666 pence per ordinary share (the "Repayment Shares").
Accordingly, application will be made for the Repayment Shares to be admitted to the Official List and to trading on the Main Market of the LSE and Admission is expected to occur on the LSE on or about 08:00 on 26 July 2024 ("Admission"). The Repayment Shares will rank pari passu with the existing Ordinary Shares in issue. Following the issue of the Repayment Shares, the Chairman's beneficial holding will change to 4.98%.
Upon Admission the Company's issued share capital will consist of 290,272,873 Ordinary Shares. No shares are held in treasury. Therefore, the total number of voting rights of the Company from Admission will be 290,272,873. The above figure 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 in their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Following the issue of the Repayment Shares to repay the GBP 250,000 debt due under the Facility, the balance available under the Facility will reduce to GBP 1,75 million.
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For further information, please contact:
Shareholder/analyst enquiries:
Pensana Plc
Paul Atherley, Chairman IR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of the Company is Paul Atherley (Chairman).
