leadf
logo-loader
RNS
viewActive Energy Group PLC

Active Energy Group - Conversion of Convertible Loan Notes

RNS Number : 1234R
Active Energy Group PLC
26 June 2020
 

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

26 June 2020

Active Energy Group Plc

('Active Energy' or the 'Company')

Conversion of Convertible Loan Notes

 

Active Energy, the London quoted international biomass based renewable energy business announces that a US holder of convertible loan notes issued by the Company (the "CLNs") has elected to convert CLNs with a nominal value of £67,687 into new ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") pursuant to the terms of the CLNs. Accordingly, 6,768,700 new Ordinary Shares (the "Conversion Shares") have been issued to the noteholder in accordance with the terms of the CLNs at a conversion price of 1p. Following completion of this conversion, there remain a total nominal value of £16,433,841 CLNs outstanding.

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 1 July 2020.

 

Following Admission, the Company's enlarged issued share capital will comprise 1,280,307,763 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 Group Plc

Michael Rowan

Chief Executive Officer

Antonio Esposito

Chief Operations Officer

 

 

SP Angel Corporate Finance LLP

Nominated Adviser and Broker

 

David Hignell / Caroline Rowe

Office: +44 (0)20 3470 0470

Allenby Capital Limited

Joint Broker

Amrit Nahal / David Worlidge

Office: +44 (0)20 3328 5656

Camarco

Financial PR Adviser

Gordon Poole / Tom Huddart / Emily Hall

aeg@camarco.co.uk

Office: +44 (0) 20 3757 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™ 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™ and a low emission CoalSwitch™ blend that utilises other waste materials.

 

 

 

 


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
 
 
CONDZGZVFKDGGZM

Quick facts: Active Energy Group PLC

Price: 0.6

Market: LSE
Market Cap: £9.24 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE