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.
-
ENDS -
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).