PROSPEX ENERGY PLC

Pre-Annual General Meeting Information • Sep 10, 2021

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

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