TIDMMEN
RNS Number : 4293I
Molecular Energies PLC
07 August 2023
7 August 2023
MOLECULAR ENERGIES PLC
("Molecular", "the Company", or "the Group")
Rating of Investment Grade A- reconfirmed for Molecular's
Argentine Bond
Paraguay progress continues
Further progress at Green House Capital
Molecular Energies PLC (AIM: MEN), the international energy
company, provides an update on the investment rating for its Bond
in Argentina, its Paraguay exploration well and on its Green House
Capital division.
Molecular's Argentine Mini Bond
FIX SCR, the Argentine affiliate of the worldwide credit agency
Fitch, has this month reconfirmed the rating of Molecular's
Argentine "mini" bond as investment grade A- demonstrating the
financial credibility of President Argentina, the Company's oil and
gas subsidiary.
Oil and gas remains one of the backbones of the Argentine
economy. As a dollar based business with domestic and export sales,
President Argentina is in material respects insulated from the
present high inflation in the country.
Paraguay Exploration Well
The long distance mobilisation of the Rig to site continues as
planned with presently no material issues or alteration to
timescales. The Company continues to upload to its social media
accounts with relevant photographs and videos showing the progress
being made.
Spin out and IPO of Green House Capital
Progress continues to be made in this regard with further
announcements expected during the course of the next two months.
finnCap, shortly expected to merge with Cenkos Securities, have
been appointed as the prospective Nomad for the IPO with Crowe LLP
appointed as prospective reporting accountants and Fieldfisher LLP
as UK legal adviser.
Green House Capital Group PLC ("GHCG")
As part of the continuing work towards the spin out and IPO,
Green House Capital Group PLC, a public limited company, has been
incorporated in England and Wales in order to acquire from
Molecular the entire issued share capital of Green House Capital
Limited ("Green House") and then become the entity whose shares are
intended to be admitted to the market in any future IPO. Prior to
the IPO, the shareholding of GHCG will be held 75% Molecular and
25% Alpha Energies Invest GmbH ("Alpha"), a private fund ultimately
beneficially owned by Peter Levine, being in the same ratios as
such parties currently hold shares in Green House.
G-Mobility Limited
Molecular has incorporated G-Mobility Limited as a private
company registered in England and Wales as a subsidiary of Green
House.
This company has been formed to be the owner and operator of
electrolysers and refuelling systems providing inter alia hydrogen
for mobility complimenting the work of Dual Fuel Limited with the
possibility in due course of fabricating and/or acting as
distributor for electrolysers under licence for South American
markets.
Aton 6 PLC
Aton 6 has now had its account with the Verra Registry approved.
Verra is one of the few global standard registries for registering
carbon offset projects for the voluntary markets. The registry is
where carbon credits verified by such standards are stored,
exchanged and ultimately retired or offset. Aton 6 is now able to
trade credits in its own name which is another step towards revenue
generation in 2024.
Aton 6 will provide a unique offering of not only developing and
benefiting from trading the Group's own variously generated carbon
credits but also is able to invest in third party carbon offset
projects, carry those through to registration, acquiring already
registered credits in the market then trading those credits to
companies and individuals direct or through the internet.
Peter Levine, Chairman, commented:
"This announcement reflects the breadth of Molecular's interests
and the extent of the work being conducted.
"With elections coming up soon in Argentina suggesting a more
constructive approach for the country in 2024, the forthcoming IPO
of Green House later this year and significant advances in that
division in the meantime, we are optimistic for each division of
the Group as well as being pleased by the continued progress of
Atome Energy PLC where the group maintains a 20.5% interest."
Contact :
Molecular Energies PLC +44 (0)20 7016 7950
Peter Levine, Chairman info@molecularenergiesplc.com
Rob Shepherd, Group FD
finnCap (Nominated Advisor and
Broker)
Christopher Raggett, George Dollemore +44 (0)20 7220 0500
Tavistock (Financial PR & IR)
Simon Hudson, Nick Elwes, Charles
Baister +44 (0)20 7920 3150
Notes to Editors
Molecular Energies PLC is an AIM listed company at the forefront
of energy development and has interests across the energy spectrum,
from oil and gas projects to subdivisions in the green and
alternative energy sub-sectors.
The Company has oil and gas production in Argentina as well as
exploration assets in both Argentina and Paraguay. The Company has
two separate subdivisions which are focused on early-stage
opportunities in the green and/or alternative energy
sub-sector.
Activities in the green and alternative energy space are being
carried out under the Green House Capital brand and through AIM
listed Atome Energy PLC, a green hydrogen, ammonia, and fertiliser
company operating in Paraguay, Costa Rica and Iceland, in which
Molecular currently has 20.5%.
With a strong strategic and institutional base of support, an
in-country management team as well as the Chairman whose interests
as the largest shareholder are aligned to those of its
shareholders, Molecular gives UK investors access to an energy
growth story combined with world class standards of corporate
governance, environmental and social responsibility.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR"). The person who arranged for the release of this
announcement on behalf of the Company was Peter Levine,
Chairman.
-ends-
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDVQLFBXVLFBBD
(END) Dow Jones Newswires
August 07, 2023 02:00 ET (06:00 GMT)
Grafico Azioni Molecular Energies (LSE:MEN)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Molecular Energies (LSE:MEN)
Storico
Da Set 2023 a Set 2024