Ncondezi Energy Limited Non-Executive Director/ PDMR dealing (6946G)
November 27 2020 - 2:00AM
UK Regulatory
TIDMNCCL
RNS Number : 6946G
Ncondezi Energy Limited
27 November 2020
News Release
Non-Executive Director/ PDMR dealing
27 November 2020: Nco ndezi Energy Limited ("Ncondezi" or the
"Company") (AIM: NCCL) announces that it has been notified that on
25 November 2020, Scott Fletcher, Non-Executive Director, purchased
an aggregate of 933,690 ordinary shares of no par value ("Ordinary
Shares").
Following this transaction, Scott Fletcher's beneficial interest
in Ordinary Shares in the Company increased to 61,661,887 Ordinary
Shares, representing 17.63 per cent. of the Company's issued share
capital.
For the avoidance of doubt, following this transaction and
following the admission of the placing shares on 8 December 2020
(as announced on 25 November 2020) Scott Fletcher's beneficial
interest in Ordinary Shares of the Company will be 63,439,687
Ordinary Shares, representing 17.32 per cent. of the Company's then
enlarged issued share capital.
Enquiries
For further information please visit www.ncondezienergy.com or
contact:
Ncondezi Energy Hanno Pengilly +27 (0) 71 362 3566
Liberum Capital Limited Scott Mathieson, Edward Thomas, +44 (0) 20 3100
NOMAD & Joint Broker Kane Collings 2000
Novum Securities Limited +44 (0) 20 7399
Joint Broker Colin Rowbury 9427
Pimlico Advisory Ltd +44 (0) 777 56 55
Investor Relations Elizabeth Johnson 927
The notification below is made in accordance with the
requirements of the EU Market Abuse Regulation.
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 Scott Fletcher
------------------------- --------------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Non-Executuve Director
------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Ncondezi Energy Limited
------------------------- --------------------------------------
b) LEI 2138003W75PP9STE9J18
------------------------- --------------------------------------
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 no par value
of the financial
instrument,
type of instrument
Identification VGG640631039
code
------------------------- --------------------------------------
b) Nature of On-market purchase
the transaction
------------------------- --------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 1. 5.4875p 1. 83,690
2. 5.692p 2. 100,000
3. 5.4p 3. 100,000
4. 5.4998p 4. 250,000
5. 5.3998p 5. 50,000
6. 5.496p 6. 50,000
7. 5.342p 7. 50,000
8. 5.2998p 8. 250,000
------------ -----------------
------------------------- --------------------------------------
Aggregated
information
- Aggregated 933,690
volume
d) - Price 5.441p
------------------------- --------------------------------------
e) Date of the 25 November 2020
transaction
------------------------- --------------------------------------
f) Place of the London Stock Exchange, AIM
transaction
------------------------- --------------------------------------
Note:
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public domain. If
you have any queries on this, then please contact Hanno Pengilly,
Chief Executive Officer of the Company (responsible for arranging
release of this announcement) on +27 (0) 71 362 3566.
About Ncondezi Energy
Ncondezi is an African power development company with an
advanced staged, integrated 300MW thermal coal power plant and mine
project located in the Tete Province, Northern Mozambique.
The Company is focused on providing reliable, affordable and
accessible baseload energy to Mozambique and secure against the
effects of water drought and intermittency of new renewables. This
project supports Mozambique's energy strategy of universal
electricity access by 2030. According to the World Bank, only 30%
of the Mozambican population had access to energy in 2017. The
Ncondezi Project would provide 300MW of reliable and available
power helping to close the infrastructure gap of the region and
serving as a catalyst for economic development.
The power plant will be designed to be equipped with
state-of-the-art emissions controls technologies that will reduce
local air pollutants, minimizing the plant's impact on the
environment and ensuring its compliance with the most stringent
emission standards
In 2019, the Company entered into the Commercial and Industrial
("C&I") renewable and battery storage sector and in October
2019 announced its first investment in an off grid solar battery
project. The Company has also secured the right to fund a US$5.5m
C&I project development pipeline in Mozambique through a
Relationship Agreement with a C&I developer. The move into the
C&I solar and battery storage sector offers a significant
opportunity for the Company to complement the existing large-scale
baseload power project and access near-term low-risk annuity income
streams which have significant growth potential.
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