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Andalas Energy & Power #ADL – Resignation of Director
Andalas Energy and Power Plc (AIM: ADL) announces the resignation of Dan Jorgensen as Finance Director of the Company with immediate effect. Dan is leaving to pursue other private commercial opportunities. He will assist the Company by providing on-going support as it transitions to a new arrangement, as detailed below.
FIM Capital Limited, the Company’s administrator, will take up the financial management functions which Dan had been responsible for whilst Graham Smith, a non-executive director of Andalas and the CEO of FIM Capital Limited, will assume responsibility for finance on the Board.
Simon Gorringe, CEO of Andalas Energy and Power PLC said: “I would like to thank Dan for his support and commitment over the last few years. He has been a key member of our management team and will be sorely missed. We wish him the very best in his future endeavours.”
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR). Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
For further information, please contact:
| Simon Gorringe | Andalas Energy and Power Plc | Tel: +44 1624 681250 |
| Graham Smith | Andalas Energy and Power Plc | Tel: +44 1624 681250 |
| Roland Cornish/ James Biddle | Beaumont Cornish Limited (Nominated Adviser) |
Tel: +44 20 7628 3396 |
| Colin Rowbury | Novum Securities Limited (Joint Broker) |
Tel: +44 207 399 9427 |
| Christian Dennis | Optiva Securities Limited (Joint Broker) |
Tel: +44 20 3411 1881 |
| Stefania Barbaglio | Cassiopeia Services Ltd | Stefania@cassiopeia-ltd.com |
Andalas Energy and Power (ADL) – Re Director Shareholdings
Further to its announcement of 23 May 2017, the Company sets out below the PDMR notifications relating to the participation by certain of the Directors in the Placing in accordance with the requirements of the Market Abuse Regulation:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Daniel Jorgensen | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Finance Director | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ANDALAS ENERGY AND POWER PLC | |||
| b) | LEI | 213800TZWOYU7UFZ5V63 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of Nil par value | |||
| Identification code | |||||
| b) | Nature of the transaction | Purchase of ordinary shares via a Placing | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 0.1 pence | 31,000,000 | ||||
| d) | Aggregated information | N/A – single transaction | |||
| – Aggregated volume | N/A – single transaction | ||||
| – Price | N/A – single transaction | ||||
| e) | Date of the transaction | 22 May 2017 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | David Whitby | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | CEO | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ANDALAS ENERGY AND POWER PLC | |||
| b) | LEI | 213800TZWOYU7UFZ5V63 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of Nil Par value | |||
| Identification code | |||||
| b) | Nature of the transaction | Purchase of ordinary shares via a Placing | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 0.1 pence | 42,000,000 | ||||
| d) | Aggregated information | N/A – single transaction | |||
| – Aggregated volume | N/A – single transaction | ||||
| – Price | N/A – single transaction | ||||
| e) | Date of the transaction | 22 May 2017 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Paul Warwick | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Non-Excutive Director | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ANDALAS ENERGY AND POWER PLC | |||
| b) | LEI | 213800TZWOYU7UFZ5V63 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of Nil par value | |||
| Identification code | |||||
| b) | Nature of the transaction | Purchase of ordinary shares via a Placing | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 0.1 pence | 15,000,000 | ||||
| d) | Aggregated information | N/A – single transaction | |||
| – Aggregated volume | N/A – single transaction | ||||
| – Price | N/A – single transaction | ||||
| e) | Date of the transaction | 22 May 2017 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Ross Warner | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | EXECUTIVE DIRECTOR | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ANDALAS ENERGY AND POWER PLC | |||
| b) | LEI | 213800TZWOYU7UFZ5V63 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of Nil par value | |||
| Identification code | |||||
| b) | Nature of the transaction | Purchase of ordinary shares via a Placing | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 0.1 pence | 31,000,000 | ||||
| d) | Aggregated information | N/A – single transaction | |||
| – Aggregated volume | N/A – single transaction | ||||
| – Price | N/A – single transaction | ||||
| e) | Date of the transaction | 22 May 2017 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Simon Gorringe | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | EXECUTIVE DIRECTOR | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ANDALAS ENERGY AND POWER PLC | |||
| b) | LEI | 213800TZWOYU7UFZ5V63 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of Nil par value | |||
| Identification code | |||||
| b) | Nature of the transaction | Purchase of ordinary shares via a Placing | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 0.1 pence | 31,000,000 | ||||
| d) | Aggregated information | N/A – single transaction | |||
| – Aggregated volume | N/A – single transaction | ||||
| – Price | N/A – single transaction | ||||
| e) | Date of the transaction | 22 May 2017 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Graham Smith[i] | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | Non-Executive Director | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | ANDALAS ENERGY AND POWER PLC | |||
| b) | LEI | 213800TZWOYU7UFZ5V63 | |||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a) | Description of the financial instrument, type of instrument | Ordinary shares of Nil par value each | |||
| Identification code | |||||
| b) | Nature of the transaction | Purchase of ordinary shares via a Placing | |||
| c) | Price(s) and volume(s) | ||||
| Price(s) | Volume(s) | ||||
| 0.1 pence | 18,000,000 | ||||
| d) | Aggregated information | N/A – single transaction | |||
| – Aggregated volume | N/A – single transaction | ||||
| – Price | N/A – single transaction | ||||
| e) | Date of the transaction | 22 May 2017 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
[i] FIM Capital Limited, a company in which Graham Smith is interested has subscribed for the shares.
For further information, please visit www.andalasenergy.co.uk or contact:
| David Whitby | Andalas Energy and Power Plc | Tel: +62 21 2783 2316 |
| Sarah Wharry Craig Francis |
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker) |
Tel: +44 20 7894 7000 |
| Jon BellissFrank Buhagiar Susie Geliher |
Beaufort Securities Limited (Joint Broker)St Brides Partners Limited |
Tel: +44 20 7382 8415Tel: +44 20 7236 1177 |