Press
Release
4th February
2025
This announcement contains inside
information as defined under the Market Abuse Regulations n.
596/2014
Cadogan Energy Solutions
Plc
("Cadogan" or the
"Company")
Cadogan Energy
Solutions plc ("Cadogan" or the "Company") announces that it has
issued 7,000,000 Ordinary shares of £0.03 each, ("New Ordinary
Shares") in the capital of the Company for cash on the basis of
£0.03 per share to the CEO, Mr Fady Khallouf, to be satisfied in
full using 50% of the amount of the bonus due relating to the
recovery of the loan to Proger Managers & Partners srl approved
by shareholders at the Annual General Meeting held on
25th June
2021.
The Company confirms that Mr Fady Khallouf
has agreed to fund the income tax due on the bonus from his own
resources. Therefore, there is no immediate need for any of
the above shares to be sold to fund the tax liability arising on
the bonus. Also, as a consequence, there will be no cash
outflow for the Company arising from the award of the bonus, with
the exception of any related social security contributions that
fall due following the payment of the
bonus.
Application will be made for the new Ordinary Shares to be
admitted to trading on the London Stock Exchange (the "Admission"),
and dealings in the new Ordinary Shares are expected to commence on
or around 10th February
2025.
Following the issue of the New Ordinary Shares the total
number of Ordinary Shares in issue is 251,128,487. There are
66 Ordinary Shares held in treasury. Therefore, the total number of
voting rights in the Company is 251,128,421. This figure may
be used by shareholders in the Company 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 under the
Disclosure and Transparency
Rules.
ENDS
About
Cadogan Energy Solutions
is an independent, energy company, which operates an
exploration and production license in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies. Cadogan is
currently developing several power generation projects in
Western Ukraine to be operational
in 2025. The aim of the Company is to be a diversified energy group
making investments offering energy solutions and alternative
services with a lower environmental
impact.
For further information, please
contact:
Cadogan Energy Solutions
plc
Fady Khallouf
Chief Executive
Officer
f.khallouf@cadogan-es.com
Ben Harber
Company Secretary
+44 0207 264 4366
