Prospex Energy PLC (PXEN.L) 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:

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.

Mark Routh

Prospex Energy PLC

Tel: +44 (0) 20 7236 1177

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