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Active Energy Group - Conversion of Convertible Loan Notes

RNS Number : 4675L
Active Energy Group PLC
13 January 2021
 

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

13 January 2021

 

Active Energy Group Plc

('Active Energy', 'AEG', or the 'Company')

Conversion of Convertible Loan Notes 

 

Active Energy, the London quoted international biomass based renewable energy and forestry management business, announces that holders of convertible loan notes issued by the Company (the "CLNs") have elected to convert CLNs with a nominal value of £650,545 into new ordinary shares of 0.01p each in the capital of the Company (the "Ordinary Shares") pursuant to the terms of the CLNs. Accordingly, 65,054,500 new Ordinary shares will be issued to the CLN holder in accordance with the terms of the CLNs at a conversion price of 1p (the "Conversion Shares").

Application will be made for the Conversion Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission") no later than 30 days after the date of the conversion notice (as provided for in the terms of the CLNs).

 

Following Admission, the Company's enlarged issued share capital will comprise 1,606,232,543 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

 

Enquiries

Active Energy Group Plc

Michael Rowan

Chief Executive Officer

Andrew Diamond

Chief Financial 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

Nick Naylor/James Reeve/Asha Chotai (Corporate Finance)

Amrit Nahal (Sales and Corporate Broking)

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.

 

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Quick facts: Active Energy Group PLC

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Market: LSE
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