TIDMPXEN

RNS Number : 4567L

Prospex Energy PLC

10 September 2021

Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

10 September 2021

Prospex Energy PLC ('Prospex' or the 'Company')

Letter to Shareholders

Prospex Energy PLC, the AIM quoted investment company (AIM:PXEN) focused on European gas and power projects, announces that Mark Routh, Prospex's CEO has written to all shareholders to seek their support in advance of the General Meeting to be held on 5 October 2021 and to present the Prospex Board's recommendations.

His letter has also been posted on the Prospex Energy website at: https://bit.ly/38VTILL

Mark Routh CEO of Prospex commented:

"I am contacting all shareholders to communicate the Company's recommendations for voting at the General Meeting. We believe it is necessary for the Company to have a Board committed to representing all shareholders, with knowledge of its assets and a determination to drive shareholder value."

The Prospex Board's recommendations:-

-- The Board recommends voting AGAINST resolutions 1 to 8 proposing new directors and ousting the Prospex board.

-- The Board recommends voting AGAINST resolutions 9 and 10 proposing the issue of new shares by the activist shareholder group.

-- The Board recommends voting FOR resolutions 11 to 14 supporting the Prospex board and the issue of shares, which would result in less dilution than that proposed by the activist shareholder group.

* * ENDS * *

For further information visit www.prospex.energy or contact the following:

 
Mark Routh          Prospex Energy PLC          Tel: +44 (0) 20 7236 
                                                                1177 
Rory Murphy         Strand Hanson Limited       Tel: +44 (0) 20 7409 
 Ritchie Balmer                                                 3494 
Colin Rowbury       Novum Securities Limited    Tel: +44 (0) 20 7399 
 Jon Belliss                                                    9427 
Duncan Vasey        Peterhouse Capital Limited  Tel: +44 (0) 20 7220 
                                                                9797 
Susie Geliher       St Brides Partners Ltd      Tel: +44 (0) 20 7236 
 Catherine Leftley                                              1177

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September 10, 2021 10:10 ET (14:10 GMT)

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