Business
Update: Convertible Loan Notes Fundraise
Prospex Energy PLC has secured approximately £1 million in committed subscriptions for its unsecured Convertible Loan Notes, extending the offering period to January 16, 2026, with a target of up to £1.6 million. These notes, convertible at 3 pence per ordinary share, will bear 12% annual interest, with the first two payments capitalized. The principal is repayable in three tranches by June 2028, with anticipated increased gas production expected to cover these repayments. Net proceeds will fund ongoing activities and capital expenditures, including £800,000 for the Selva Malvezzi concession and £300,000 for a new transformer at the El Romeral power plant. 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. \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 \n12 January 2026\n \nProspex Energy PLC\n('Prospex' or the 'Company')\n \nUpdate: Convertible Loan Notes Fundraise of up to £1.6 million\n \nProspex Energy PLC (AIM: PXEN), the AIM-quoted investment company focused on European gas and power projects, is pleased to announce that it is now in receipt of committed subscriptions totalling approximately £1 million for the offering of its unsecured Convertible Loan Notes.\n \nThe Company also notes that it is extending the offering period to Friday 16 January 2026 to allow for further subscriptions to be made. Further details on how to subscribe to the Loan Notes can be found below.\n \nHighlights\n· Committed subscriptions of £985,000 (including th...