News Release
PDMR Dealing
18 May 2023: Solgenics Limited (the "Company") announces it has been notified that on 18 May 2023, Scott Fletcher, Non-Executive Director, purchased an aggregate of 3,500,000 ordinary shares of no par value in the Company ("Shares").
Scott Fletcher's purchases were made in compliance with the Company's share dealing policy, increasing his beneficial interest in Ordinary Shares in the Company to 171,167,036 Ordinary Shares, representing 30.21 per cent. of the Company's issued share capital. As announced by the Company on 12 May 2023, Aman Sachdeva, acting in his capacity as an independent director, will not require any of Seritza Limited, Mike Haworth or Scott Fletcher (with their connected parties) to extend an offer to all shareholders under Article 32 of the Company's Articles of Association where they individually own or control 30% or more of the issued share capital provided that in aggregate they do not own or control 50% or more of the issued share capital.
Enquiries
For further information please visit www.solgenics.com or contact:
| Solgenics: | Hanno Pengilly | +27 (0) 71 362 3566 |
| Liberum Capital Limited:
| Scott Mathieson, Edward Thomas, Kane Collings | +44 (0) 20 3100 2000 |
| Novum Securities Limited Joint Broker | Colin Rowbury | +44 (0) 20 7399 9427 |
|
Pimlico Advisory Ltd Investor Relations | Elizabeth Johnson | +44 (0) 777 56 55 927 |
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this Announcement and such information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Hanno Pengilly, CEO.
About Solgenics
Solgenics is an African renewable energy development company focused on the development of a 300MW solar PV plus BESS power project in the Tete Province in northern Mozambique (the "Tete Solar Project").
It is the intention that the Tete Solar Project will connect to the Mozambique grid with target power offtakers in Mozambique and the Southern African Power Pool ("SAPP").
The Tete Solar Project takes full advantage of Mozambique's leading sustainable energy resources and is fully aligned with Government's objective to become a champion for energy transition impacting all Southern Africa.
On 3 May 2023, Solgenics announced that it will shortly be posting a circular to shareholders (in connection with a proposal for the cancellation of admission of the ordinary shares of no par value in the Company ("Ordinary Shares") to trading on AIM (the "Cancellation"), pursuant to Rule 41 of the AIM Rules for Companies. Accordingly, if the resolution to approve the cancellation is approved by shareholders, the last day of dealings in the Ordinary Shares on AIM is expected to be 6 June 2023, and the Cancellation is expected to become effective at 7.00 a.m. on 7 June 2023.
The notification below is made in accordance with the requirements of the MAR.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a) | Name | Scott Fletcher
| ||||
| 2 | Reason for the notification
| |||||
| a) | Position/status
| Non-Executive Director | ||||
| b)
| Initial notification /Amendment | Initial notification
| ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a) | Name | Solgenics Limited
| ||||
| b) | LEI | 2138003W7PP9STE9J18
| ||||
| 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 instrument, type of instrument
Identification code | Ordinary shares of no par value
VGG640631039 | ||||
| b) | Nature of the transaction | On-market purchase of Ordinary Shares
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
3,500,000
0.0026 GBP
| ||||
| e) | Date of the transaction | 16 May 2023
| ||||
| f) | Place of the transaction | London Stock Exchange, AIM
| ||||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.