Active Energy Group PLC Conversion of existing Convertible Loan Notes (1363B)
06 October 2020 - 12:31AM
UK Regulatory
TIDMAEG
RNS Number : 1363B
Active Energy Group PLC
05 October 2020
Active Energy Group Plc / EPIC: AEG / Sector: Alternative
Energy
5 October 2020
Active Energy Group Plc
('Active Energy', 'AEG', or the 'Company')
Conversion of existing Convertible Loan Notes
Active Energy, the London quoted international biomass based
renewable energy and forestry management business, announces that a
holder of convertible loan notes issued by the Company (the "CLNs")
has elected to convert CLNs with a nominal value of GBP19,752 into
new ordinary shares of 0.01p each in the capital of the Company
("Ordinary Shares") pursuant to the terms of the CLNs. Accordingly,
1,975,200 new Ordinary Shares have been issued to the CLN holder in
accordance with the terms of the CLNs at a conversion price of 1p
(the "Conversion Shares").
Total Voting Rights
Application has been made for the Conversion Shares, which will
rank pari passu with the existing Ordinary Shares, to be admitted
to trading on AIM ("Admission"). It is expected that Admission will
become effective and dealings will commence at 8:00am on or around
8 October 2020.
Following Admission, the Company's enlarged issued share capital
will comprise 1,541,178,043 Ordinary Shares with voting rights.
This figure 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.
ENDS
Website LinkedIn
www.aegplc.com www.linkedin.com/company/activeenergy
--------------------------------------
Enquiries
Active Energy Michael Rowan
Group Plc Chief Executive Officer
Antonio Esposito
Chief Operations Officer
----------------------------- ----------------------------
SP Angel Corporate David Hignell / Caroline Office: +44 (0)20 3470 0470
Finance LLP Rowe
Nominated
Adviser and
Broker
----------------------------- ----------------------------
Allenby Capital Amrit Nahal / David Worlidge Office: +44 (0)20 3328 5656
Limited
Joint Broker
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Camarco Gordon Poole / Tom Huddart aeg@camarco.co.uk
Financial / Emily Hall Office: +44 (0) 20 3757
PR Adviser 4980
----------------------------- ----------------------------
About Active Energy Group:
Active Energy Group plc is a London listed (AIM: AEG) renewable
energy company that has developed a proprietary technology which
transforms low-cost biomass material into high-value green fuels.
Its patented product CoalSwitch(TM) is the world's only drop-in
biomass fuel that can be mixed at any ratio with coal or completely
replace coal in existing coal-fired power stations without
requiring plant modification. Active Energy Group's immediate
strategic focus is the production and commercialisation of
CoalSwitch(TM) and a low emission CoalSwitch(TM) blend that
utilises other waste materials.
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END
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