Prospex Energy plc has to date received £985,000 committed subscriptions, of a targeted £1.6 million, for its offering of its unsecured convertible loan notes.
DIRECTOR DEALINGS
The figure includes the £565,000 from 22 December 2025.
The company said it had extended the offering until 16 January 2026.
The unsecured CLN, each of £1 and due at the end of June 2028, are convertible at three pence per ordinary share.
Non-executive chairman and director, Bill Smith, who previously subscribed for £25,000 in December 2025, subscribed for a further £50,000 in cash.
He also agreed to a £15,000 conversion of directors’ fees owing, which takes his total CLN to £90,000.
Mr Smith has additionally committed to subscribe for up to £150,000 of CLN subscriptions received to date, depending on the total subscribed for by third parties.
Net proceeds will go towards Prospex’s onshore gas interests in Spain and Italy, particularly its 37% share of its costs at Selva Malvezzi.