Active Energy Group PLC Update on CLN conversions & Total Voting Rights (9421P)
February 22 2021 - 10:53AM
UK Regulatory
TIDMAEG
RNS Number : 9421P
Active Energy Group PLC
22 February 2021
Active Energy Group Plc / EPIC: AEG / Sector: Alternative
Energy
22 February 2021
Active Energy Group Plc
('Active Energy', or the 'Company')
Update on CLN conversions
Total Voting Rights
Active Energy, the AIM quoted international biomass based
renewable energy and forestry management business, announces that
further to the Company's announcement of 19 February 2021, the
Company has received conversion notices in respect of GBP16.6
million CLNs from Noteholders, to convert their CLNs into
1,660,873,700 New Ordinary Shares in the Company. As a result, the
Company will issue 1,660,873,700 New Ordinary Shares to the
relevant Noteholders and 700,000,000 New Ordinary Shares pursuant
to the Fundraising. Following Admission of the New Ordinary Shares,
outstanding CLNs of GBP1.4 million will be redeemed and a further
GBP0.4 million of CLNs will be cancelled to fully extinguish the
CLN debt.
Application has been made for the admission of 2,360,873,700 New
Ordinary Shares to trading on AIM ("Admission"), as detailed above.
It is expected that Admission will take place at 8.00 a.m. on or
around 23 February 2021.
Changes to Director Shareholdings and Substantial
Shareholders
Certain directors of the Company subscribed for an aggregate of
2,000,000 New Ordinary Shares pursuant to the Fundraising. Their
shareholdings on Admission are set out below:
Director Ordinary Shares Percentage of issued
held on Admission share capital held
on Admission
Michael Rowan, Chief Executive
Officer 9,986,250 0.26%
Andrew Diamond, Finance
Director 500,000 0.01%
On Admission, Gravendonck Private Foundation ("Gravendonck"), a
substantial shareholder in the Company, and Linarus FZE, who have
the same beneficial owner, will have a combined interest in
953,987,189 Ordinary Shares, representing 24.4% of the Company's
issued share capital.
Total Voting Rights
Following Admission, the Company will have 3,902,051,743
ordinary shares of 0.01p each in issue, each with one voting right.
There are no shares held in treasury. Therefore, the Company's
total number of Ordinary Shares and voting rights is
3,902,051,743.
The above figure of 3,902,051,743 Ordinary Shares may be used by
shareholders from Admission as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
Defined terms used in this announcement shall have the same
meaning as in the announcement of 1 February 2021 unless otherwise
defined herein.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Active Energy Group Michael Rowan
Plc Chief Executive Officer
Andrew Diamond
Chief Financial Officer
Allenby Capital Limited Nick Naylor / James Office: +44 (0)20
Joint Broker and Reeve / Asha Chotai 3328 5656
Financial adviser (Corporate Finance)
in relation to the Amrit Nahal (Sales
CLN Restructuring & Corporate Broking)
SP Angel Corporate David Hignell / Caroline Office: +44 (0)20
Finance LLP Rowe 3470 0470
Nominated Adviser
and Joint Broker
Camarco Gordon Poole / Tom aeg@camarco.co.uk
Financial PR Adviser Huddart / Emily Hall 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(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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