2 April 2024
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
MOLECULAR ENERGIES PLC
("Molecular" or the "Company")
Director Share Purchase
Molecular Energies plc (AIM: MEN), the international energy company, announces it has today been informed that on 2 April 2024, PLLG Investments Limited, a company wholly beneficially owned by Peter Levine, Chairman and largest shareholder in the Company, acquired 262,000 ordinary shares in the capital of the Company ("Ordinary Shares") at a price of 7p per Ordinary Share (the "Share Purchase"). This reflects the statement made by Peter Levine in the Company's announcement of 28 March 2024 (the "Announcement") that he has "conviction in the value of Molecular as a whole" as a private enterprise and notwithstanding the proposed cancellation of the admission of the Ordinary Shares to trading on the AIM Market of the London Stock Exchange. Peter Levine reiterates the statement made in the Announcement that he "invite[s] any shareholders so minded to continue the journey alongside" but that "whilst making no commitment to do so, I do not rule out in the fullness of time and subject to de-listing and on becoming a private company making proposals to buy the shares of certain of those holders who either do not wish or are unable to be invested in a private business". Peter Levine is currently restricted from acquiring further Ordinary Shares without making a logistically burdensome general offer to all other shareholders since the Takeover Code continues to apply to the Company.
Following the Share Purchase, Peter Levine has a beneficial interest in 3,269,267 Ordinary Shares representing 26.41 per cent. of the issued share capital. Peter Levine and those acting in concert with him have combined beneficial interest in 3,705,981 Ordinary Shares representing 29.94 per cent. of the issued share capital.
| Molecular Energies PLC Peter Levine, Chairman Rob Shepherd, Group FD | +44 (0)20 7016 7950 |
| Cavendish Capital Markets Limited (Nominated Adviser & Broker) Simon Hicks George Dollemore | +44 (0)20 7220 0500 |
| Tavistock (Financial PR & IR) Simon Hudson, Nick Elwes, Saskia Sizen | +44 (0)20 7920 3150 |
For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU) 2016/1055 and the UK version of such implementing regulation (as amended), the person responsible for arranging for the release of this Announcement on behalf of the Company is Peter Levine, Chairman.
Pursuant to the notification obligations in accordance with Article 19 of the Market Abuse Regulation (MAR)
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Name | Peter Levine through PLLG Investments Limited | ||||||
| 2. | Details of PDMR / person closely associated with them ('PCA') | |||||||
| a) | Position / status | Chairman | ||||||
| b) | Initial notification / amendment | Initial notification | ||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Molecular Energies plc | ||||||
| b) | LEI | 213800MA2ZN22I4ITA79 | ||||||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; | |||||||
| c) | Description of the financial instrument | Ordinary shares of 1p each ISIN: GB00B3DDP128 | ||||||
| d) | Nature of the transaction | Purchase of Ordinary Shares | ||||||
| e) | Price and volume |
| ||||||
| f) | Aggregated information
Aggregated volume
Price |
262,000 Ordinary Shares at 7p per Ordinary Share
| ||||||
| g) | Date of the transaction | 2 April 2024 | ||||||
| h) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||||
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