Director Share Holding

Director Nicholas Nelson converts £29,000 in CLNs into 11.6 million new shares.

What the company is saying

Pineapple Power Corporation PLC reports that Non-Executive Director Nicholas Nelson has converted £29,000 of Convertible Loan Notes into 11,600,000 new ordinary shares at a price of 0.25 pence per share. The announcement details Nelson's participation in the June 2026 CLN raise, where he subscribed for £20,000 and also received CLNs for a prior £9,000 bridging loan. The company now has 94,932,877 ordinary shares in issue and £289,000 in CLNs outstanding, convertible into 115,600,000 shares. The tone is factual and procedural, focusing on the mechanics of the conversion and the resulting director shareholding. The company provides full transaction specifics, including ISIN, LEI, and the transaction date. There is no forward-looking commentary or strategic framing in the announcement.

What the data suggests

The conversion of £29,000 in CLNs into 11,600,000 shares increases Nicholas Nelson's total holding to 11,600,000 shares. The company previously raised £300,000 via CLNs at a conversion price of 0.25 pence per share, with £289,000 in CLNs still outstanding and convertible into 115,600,000 shares. After this conversion, the total shares in issue rise to 94,932,877. The transaction reflects a director's direct financial commitment and a reduction in outstanding CLNs, but leaves a substantial balance of convertible debt. No revenue, cash flow, or operational metrics are disclosed, so the announcement is limited to capital structure changes and director alignment. The data is precise and reconciles the director's participation, but does not provide insight into the company's operating performance or financial health beyond this event.

Analysis

The announcement is a factual disclosure of a director's shareholding change following the conversion of Convertible Loan Notes into new ordinary shares. All claims are realised and supported by specific numerical data, including the number of shares allotted, conversion price, and resulting capital structure. There are no forward-looking statements, projections, or promotional language present. The tone is strictly informational, with no attempt to frame the transaction as a strategic milestone or to imply future benefits. No large capital outlay is paired with uncertain or long-dated returns; the capital raise and conversion have already occurred. The disclosure is complete for its purpose and does not attempt to inflate the significance of the event.

Risk flags

• ●The company still has £289,000 in outstanding Convertible Loan Notes, which could lead to further dilution if converted, impacting existing shareholders' percentage ownership.
• ●Director participation in the CLN raise signals alignment, but also concentrates ownership and may raise governance concerns if future capital events disproportionately involve insiders.
• ●The absence of operational or financial performance data in this update means investors cannot assess the company's underlying business trajectory or the strategic rationale for the capital structure changes.

Bottom line

This announcement documents a routine capital structure adjustment, with Non-Executive Director Nicholas Nelson converting £29,000 in CLNs into 11.6 million shares, bringing his total holding to that amount. The company now has nearly 95 million shares in issue and £289,000 in CLNs still outstanding, which could result in further dilution. While the director's financial participation demonstrates commitment, it does not guarantee broader institutional support or signal operational progress. The disclosure is complete for this transaction but does not address the company's revenue, cash, or business outlook. Investors should view this as a technical update on share capital and director alignment, not as an indicator of improved fundamentals or imminent value creation. The key takeaway is the ongoing potential for dilution from remaining CLNs.

Announcement summary

(LSE:PNPL) Pineapple Power Corporation PLC announced the allotment of 11,600,000 new ordinary £0.001 shares to Nicholas Nelson, a director of the Company. On 29 June 2026, the Company had raised £300,000 through the issue of Convertible Loan Notes (CLNs) with a conversion price of £0.0025 per share. Nicholas Nelson participated in the CLNs in the amount of £20,000. He was also issued Convertible Loan Notes on the same terms against a £9,000 bridging loan he had previously provided to the Company. Following this allotment, Mr Nelson's total shareholding in the Company is now 11,600,000 shares. After this transaction, the Company has 94,932,877 ordinary £0.001 shares in issue. The Company has £289,000 in CLNs outstanding, convertible into 115,600,000 Convertible Loan Notes. The conversion price for the CLNs was 0.25 pence per ordinary share. The ISIN for Pineapple Power Corporation plc Ordinary Shares is GB00BD0SN947. The transaction was a conversion of Convertible Loan Notes into 11,600,000 Ordinary Shares. The principal value of Convertible Loan Notes converted was £29,000. The transaction date was 21 September 2026 and took place outside a trading venue. Nicholas Nelson is a Non-Executive Director of Pineapple Power Corporation PLC. The Company's LEI is 213800BTD7JL99MTGQ68. The announcement was made in the United Kingdom.

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