Business
£565,000 Issuance of Convertible Loan Notes
Prospex Energy PLC has announced a proposed fundraise of up to £1.6 million through the issuance of unsecured Convertible Loan Notes, having already secured £565,000 from existing and new investors, including directors. These notes are due in June 2028, convertible at 3p per ordinary share, and carry a 12% annual interest rate, with the first two interest payments being capitalized. The proceeds will primarily fund capital expenditure, including £800,000 for 3D seismic acquisition in Italy, £300,000 for a new transformer at the El Romeral power plant in Spain, and £200,000 to cover a past cash call for the Viura asset. The company anticipates increased gas production will cover loan repayments. Disclaimer*
About this update from Prospex Energy Plc
[{"type":"text","content":"\n\nProspex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas\n \nTHIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT. \n \nThe communication of this announcement, and any other documents or materials relating to the Proposed Fundraise and the Loan Notes is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to, and may only be acted upon by, those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the \"Financial Promotion Order\")) or persons who are within Article 43 of the Financial Promotion Order (being existing members or creditors of the Company) or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.\n \n19 December 2025\n \nProspex Energy PLC\n('Prospex' or the 'Company')\n \n£565,000 Issuance of Convertible Loan Notes\nProposed Fundraise of up to £1.6 million to Support Portfolio Capital Expenditure\n \nProspex Energy PLC (AIM: PXEN), the AIM-quoted investment company focused on European gas and power projects, announces that it has issued £565,000 in unsecured Convertible Loan Notes ('the Loan Notes') to existing and new investors ('the Subscribers'), including all of the directors of the Company.\n \nThe Company will now offer any existing shareholders and qualified investors the opportunity to participate in the Loan Notes on the same terms, for a tot...