Business
Conversion of Loan Notes and TVR
Prospex Energy PLC has announced the conversion of £152,515.07 in convertible loan notes into 5,083,836 new ordinary shares, issued at 3.00p per share. This conversion will increase the total number of ordinary shares in issue from 428,710,121 to 433,793,957, with admission to trading expected around March 20, 2026. This change impacts the denominator for shareholders calculating their notification requirements under FCA rules. Disclaimer*
About this update from Prospex Energy Plc
Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas 17 March 2026 Prospex Energy PLC ('Prospex' or the 'Company') Conversion of Loan Notes and TVR Prospex Energy PLC, the AIM-quoted investing company focused on European gas and power projects, announces that it has received a notice to convert £152,515.07 into convertible loan notes in exchange for the issue of 5,083,836 new ordinary shares of 0.1p each in the Company ("Ordinary Shares"). The abovementioned convertible loan note was issued in January 2026 and is convertible at 3.00p per share pursuant to a Convertible Loan Note Deed dated 17 December 2025. Admission to Trading and Total Voting Rights The Company has applied to the London Stock Exchange for admission of 5,083,836 new Ordinary Shares to trading on AIM ('Admission') as a result of the above conversion. Admission is expected to occur on or around 20 th March 2026. There are currently 428,710,121 Ordinary Shares in issue. Following Admission there will be a total of 433,793,957 Ordinary Shares in issue. This will be the number of Ordinary Shares that 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 to their interest in the Company under the FCA's Disclosure and Transparency Rules. This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR. * * ENDS * * For further information visit www.prospex.energy or contact the following: Tom Reynolds Prospex Energy PLC Tel: +44 (0) 20 7236 1177 Ritchie Balmer Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Andrew Monk (Corporate Broking) Andrew Raca (Corporate Finance) VSA Capital Limited Tel: +44 (0) 20 3005 5000 Neil Passmore Leif Powis Hannam & Partners Tel: +44 (0) 20 7907 8500 Ana Ribeiro / Charlotte Page St Brides Partners Limited Tel: +44 (0) 20 7236 1177 Notes Prospex Energy PLC is an AIM quoted investing company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low-cost re-evaluation techniques to identify and de-risk prospects. The Company will rapidly scale up gas production in the short term to generate internal revenues that can then be deployed to develop the asset base and increase production further.
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