CEO JAY BHATTACHERJEE Puts Skin in the game

Director/PDMR Shareholding

Fri, 13th Jul 2018 15:00

RNS Number : 6387U

Aminex PLC

13 July 2018

Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them

This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	  JAY BHATTACHERJEE
2	Reason for the notification
a)	Position/status	DIRECTOR
b)	Initial Notification Amendment	NO
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	AMINEX PLC
b)	LEI	635400CSEBJAYPUUFC95
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 of the financial instrument, type of instrument Identification code	ORDINARY SHARES OF €0.001 EACH
b)	Nature of the transaction	PURCHASE OF ORDINARY SHARES
c)	Price(s) and volume(s)	Grant Price(s) Volume(s) STG 2.009 PENCE 492,341
d)	Aggregated information - Aggregated volume - Price	NOT APPLICABLE
e)	Date of the transaction	13 JULY 2018
f)	Place of the transaction	LONDON
g)	Additional Information

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.

END

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Aminex Farm Out Deal Analysed & CEO Interview

THE RNS

Transformational Ruvuma Farm-Out

Aminex is pleased to announce that its wholly-owned subsidiary, Ndovu Resources Limited, has signed a binding farm-out agreement ("Farm-Out") with The Zubair Corporation LLC ("Zubair").  Zubair plans to assign its interest in the Farm-Out to ARA Petroleum Tanzania Ltd (a company under formation) ("APT"), which will be an affiliate of Eclipse Investments LLC ("Eclipse"), the Company's largest shareholder.  Subject to the detailed terms set out in the Farm-Out agreement, it is intended that the Farm-Out will accelerate the development of the Ntorya project, carry Aminex through to a minimum gross production rate of 40 MMcf/d and be self-funded through a full field development project.

Deal Summary

The Call for Better Communication

The following presentation was one made by myself to the Aminex Board back in December and the response from the Chairman Brian Hall was as follows...

Aminex in Tanzania - The Need for Gas to Power is Growing

Whilst we wait for the Aminex licence and funding conundrum to unwind, the industrialisation of Tanzania continues. These projects will require a lot of energy. Some will no doubt be hooked up to use gas for their power generation needs. So this keeps the demand side ticking up and puts more pressure on the Tanzanians to make sure there is more gas available before ‘The Crunch’ in 2019!

Here are just a few examples of the industrialisation news from the last week or so....

Close on 7.5% Growth Expected in Tanzania Says Moody's

In an article published yesterday says that the ratings agency Moody's is bullish about the growth prospects and likely resilience of the Tanzanian economy

The article says:

"Kenya, Tanzania well placed to weather shocks, says Moody’s"

Tanzania: More Gas Production or Bust Their Own Plans by Q1 2019

The following interesting article comes from “Leaflessclover” a respected LSE bulletin board member who keeps a keen eye on Gas supply and demand within Tanzania…

At the end of May 2018, The Tanzanian Energy Minister made a speech to parliament:

https://www.nishati.go.tz/wp-content/uploads/2018/05/Hotuba-ya-Bajeti-ya-Wizara-ya-Nishati-kwa-mwaka-2018-2019.pdf  (You will need to translate from Swahili).

Prior to this, the most up to date information I had regarding the timings of new gas fired power plants in Tanzania came from reports from Orca and WRL.  Compared to those previous sources of information the Minister’s speech contained the following new/different information:

Nothing to Report - Just My Aminex Thoughts

Very quiet on the Aminex front lately as we wait and wait which means there is nothing really to report other than England won 6v1 in the World Cup,  Polished off the Aussies 5v0 in the cricket and Louis Hamilton won the French Grand Prix yesterday.

I'm looking forward to attending the AGM on 11th July and hope to have many questions answered.  Meanwhile the bulletin boards have been full of speculation and the quiet period has been taken advantage of by the detractors and those with vested interests but from what snippets are available it seems the quiet period is about to come to an end.