Active Energy Group PLC Exercise of Warrants and Options (5760Z)
18 December 2017 - 6:00PM
UK Regulatory
TIDMAEG
RNS Number : 5760Z
Active Energy Group PLC
18 December 2017
Active Energy Group Plc / EPIC: AEG / Sector: Alternative
Energy
18 December 2017
Active Energy Group Plc ('Active Energy' or 'the Group')
Exercise of Warrants and Options by Richard Spinks, CEO
Active Energy, the London quoted international biomass based
renewable energy and forestry management business is pleased to
announce that pursuant to the receipt of exercise notices from
Chief Executive Officer Richard Spinks for, (1) 40,000,000 options,
it is issuing 40,000,000 ordinary shares of 1p each ("Ordinary
Shares") at the exercise price of 1.25p per share (the "New
Ordinary Shares") and (2) 1,733,333 warrants, it is issuing
1,733,333 New Ordinary Shares at the exercise price of 1.25p per
share. Following this exercise, Mr Spinks will hold 52,105,333
Ordinary Shares or 6.013% of the voting share capital of Active
Energy. The option and the warrant exercise raised GBP521,666, with
the proceeds being utilised, in particular, to capitalise on the
commercial activities of Active Energy.
Active Energy Non-Executive Chairman, Michael Rowan, said, "I am
delighted by Richard's show of support for the Company at what is a
pivotal time in our strategy. There is a huge amount happening, for
both Timberlands International and Advanced Biomass Solutions. The
funds will be used to capitalise on both opportunities, and further
accelerate our plans to rapidly scale the business over the next 12
months."
Application has been made for the New Ordinary Shares, which
will rank pari passu with the existing Ordinary Shares, to be
admitted to trading on AIM and it is expected that this will take
place on or around 29 December 2017 ("Admission").
Following admission of the New Ordinary Shares, the Company's
enlarged issued share capital will comprise 899,737,943 Ordinary
Shares with voting rights. The Company currently holds 33,212,841
Ordinary Shares in Treasury and the figure of 866,525,102 Ordinary
Shares may therefore be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 ("MAR").
**ENDS**
Enquiries & Further Information:
Website LinkedIn
---------------------- --------------------------------------
www.active-energy.com www.linkedin.com/company/activeenergy
www.abs-plc.com
---------------------- --------------------------------------
Enquiries
----------------------------------------------------------------------------
Active Energy Michael Rowan michael.rowan@aegplc.com
Group Plc Non-Executive Chairman
------------------- ------------------------- ----------------------------
Richard Spinks richard.spinks@aegplc.com
Chief Executive Officer
------------------- ------------------------- ----------------------------
Northland Capital Patrick Claridge/David Office: +44 (0)20
Partners Limited Hignell/Gerry Beaney 3861 6625
Nominated Adviser
------------------- ------------------------- ----------------------------
Optiva Securities Graeme Dickson
Ltd Ed McDermott Office: +44 (0)20
Broker 3137 1902
------------------- ------------------------- ----------------------------
St Brides Partners Isabel de Salis/Megan info@stbridespartners.co.uk
Financial PR Dennison Office: +44 (0)
Adviser 20 7236 1177
------------------- ------------------------- ----------------------------
About Active Energy Group:
Active Energy Group Plc (AIM: AEG.L) is a London Stock
Exchange-listed international renewable energy business based upon
forestry assets. Its model is focussed on capturing the entire
forestry value chain through sourcing, utilising and
commercialising assets, and setting a new standard in the
sustainable management and optimisation of timber resources. The
Company is led by a highly technical and commercial team with the
experience to execute its defined growth strategy and build its
visibility, primarily as a London-listed timber opportunity with a
revolutionary biomass fuel technology. It has two affiliate
companies formed being:
-- Advanced Biomass Solutions Plc (www.abs-plc.com), which is
commercialising a revolutionary biomass coal replacement fuel,
CoalSwitch(TM); and
-- Timberlands International Ltd, a sustainable international forestry management business.
About CoalSwitch(TM):
CoalSwitch(TM) is the world's first direct drop-in replacement
biomass fuel with the ability to transform the coal energy dynamic.
Its unique qualities allow the fuel to be directly mixed in any
ratio or completely replace coal in existing unmodified coal-fired
power stations, negating the need for expensive retrofitting or
avoiding complete plant closure. Unlike almost all biomass based
pellets, it does not have to use high-quality wood but can instead
utilise low-cost waste material which translates into significant
economic benefits. CoalSwitch(TM) has a unique solution to enable
coal-fired power plants to continue operating at acceptable
environmental standards. To facilitate the expansion, ABS is
establishing operations in the Americas, Europe and Asia and has
representation in those areas in terms of business development and
technical support.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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