TIDMPNPL
RNS Number : 1359T
Pineapple Power Corporation PLC
16 March 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS AMED) AS IT FORMS
PART OF THE DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMED). UPON PUBLICATION OF
THIS ANNOUNCMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
Pineapple Power Corporation PLC
GBP350,000 Placing at 3p per share
Pineapple Power Corporation PLC ("PNPL or the Company") is
pleased to announce that GBP350,000 of new financing has been
secured for the Company by way of a fundraising undertaken by the
Company's joint broker Peterhouse Capital Limited ("Peterhouse") at
an issue price of 3p per share (the "Placing Price"). Andrew
Holland (a director of the Company) and Peter Mills (a former
director of the Company) participated in the fundraising.
Background
The Company is currently unable to issue and admit new shares
without either the publication of an FCA approved prospectus or
relying upon an exemption to the requirement to issue a prospectus.
Consequentially, this fundraise involves a combination of a
subscription by Claudio Morandi, a director of PNPL, for 10,966,666
new ordinary shares in the Company (the "Director Shares"), at a
placing price of 3p each.
Following Admission, Mr Morandi has agreed to sell the
10,966,666 Director Shares, at the same 3p consideration price, to
certain investors introduced by Peterhouse and Andrew Holland, a
director of the Company. In addition to the above, Peter Mills, a
former director, is subscribing for 700,000 new ordinary shares at
the Placing Price on his own account.
Peterhouse is acting as placing agent to the Company. The
Proceeds of the Placing, less expenses, will be utilised for
general working capital requirements and to ensure the Company
retains sufficient funds to meet the anticipated costs involved in
any future acquisition.
Completion of the Placing is conditional on, inter alia :- the
Placing Shares being admitted to listing on the Official List
(standard listing segment) and to trading on the London Stock
Exchange's main market for listed securities on or around 23 March
2023.
Applications will be made to the FCA and to the London Stock
Exchange for Admission in respect of the Placing Shares proposed to
be issued on completion of the Placing. It is expected that
Admission will become effective, and that dealings in the Placing
Shares are expected to commence, at 8.00 a.m. on 23 March 2023.
The rights attaching to the Placing Shares will be uniform in
all respects and all of the new Placing Shares will rank pari passu
and form a single class for all purposes with the existing issued
shares of GBP0.01 par value in the Company.
Total Voting Rights
Following Admission, the Company has 83,332,877 ordinary shares
of GBP0.01 par value in issue, each with one vote per share (and
none of which are held in treasury). The total number of voting
rights in the Company is therefore 83,332,877. This figure of
83,332,877 may be used by shareholders in the Company as the
denominator for calculations to determine if they have a notifiable
interest in the share capital of the Company under the Disclosure
Guidance and Transparency Rules, or if such interest has
changed.
For further information please contact -
Pineapple Power Corporation PLC
Claudio Morandi - Director
+44 203 039 3913
Clive de Larrabeiti
Corporate Finance Advisor
clive.d.l@pineapple-powercorp.com +44 797 317 7973
-------------------
Joint Corporate Broker
Peterhouse Capital
Charles Goodfellow
cg@peterhousecap.com
+44 207 220 9791
Joint Corporate Broker
Axis Capital Markets
Richard Hutchison
rh@axcap247.com +44 203 026 0320
-------------------
Media Relations
David Burton
Total Market Solutions
davidburton.tms@gmail.com
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, or vote in any manner, any securities
pursuant to this announcement or otherwise. The distribution of
this announcement in jurisdictions outside the United Kingdom may
be restricted by law and therefore persons into whose possession
this announcement comes should inform themselves about, and observe
such restrictions. Any failure to comply with the restrictions may
constitute a violation of the securities law of any such
jurisdiction.
The following information relating to the transaction by
Directors have been filed with the Financial Conduct Authority in
accordance with Article 19(1) of UK MAR.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Claudio Morandi
----------------------- ----------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Director
----------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Pineapple Power Corporation plc
----------------------- ----------------------------------------------
b) LEI 213800BTD7JL99MTGQ68
----------------------- ----------------------------------------------
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 Ordinary Shares of GBP0.01 each
of the financial
instrument, ISIN: GB00BD0SN947
type of instrument
Identification
code
----------------------- ----------------------------------------------
b) Nature of the Acquisition of 10,966,666 new ordinary shares
transaction
----------------------- ----------------------------------------------
c) Price(s) and Price No. of shares
volume(s) GBP0.03 10,966,666
----------------------- ----------------------------------------------
d) Aggregated information
- Aggregated 10,966,666
volume GBP0.03
- Price
----------------------- ----------------------------------------------
e) Date of the 15 March 2023
transaction
----------------------- ----------------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ----------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Claudio Morandi
----------------------- -------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Director
----------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Pineapple Power Corporation plc
----------------------- -------------------------------------------
b) LEI 213800BTD7JL99MTGQ68
----------------------- -------------------------------------------
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 Ordinary Shares of GBP0.01 each
of the financial
instrument, ISIN: GB00BD0SN947
type of instrument
Identification
code
----------------------- -------------------------------------------
b) Nature of the Disposal of 10,966,666 new ordinary shares
transaction
----------------------- -------------------------------------------
c) Price(s) and Price No. of shares
volume(s) GBP0.03 10,966,666
----------------------- -------------------------------------------
d) Aggregated information
- Aggregated 10,966,666
volume GBP0.03
- Price
----------------------- -------------------------------------------
e) Date of the 15 March 2023
transaction
----------------------- -------------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- -------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Capital International Group as Trustees
of a pension fund for the benefit of Andrew
Holland.
----------------------- ---------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status PCA with Andrew Holland, a director of the
Company
----------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
----------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Pineapple Power Corporation plc
----------------------- ---------------------------------------------
b) LEI 213800BTD7JL99MTGQ68
----------------------- ---------------------------------------------
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 Ordinary Shares of GBP0.01 each
of the financial
instrument, ISIN: GB00BD0SN947
type of instrument
Identification
code
----------------------- ---------------------------------------------
b) Nature of the Acquisition of 833,333 new ordinary shares
transaction
----------------------- ---------------------------------------------
c) Price(s) and Price No. of shares
volume(s) GBP0.03 833,333
----------------------- ---------------------------------------------
d) Aggregated information
- Aggregated 833,333
volume GBP0.03
- Price
----------------------- ---------------------------------------------
e) Date of the 15 March 2023
transaction
----------------------- ---------------------------------------------
f) Place of the Outside a trading venue
transaction
----------------------- ---------------------------------------------
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END
IOEGPUUAWUPWGRA
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