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Active Energy completes £11.57m fundraising

15 March 2017 08:17

Active Energy has successfully completed a fund raising of £11.57m, before expenses, through the issue of convertible loan notes to new and existing investors.

The company said the notes had a maturity date of 14 March 2022 and would be listed on the Channel Islands Securities Exchange.

The notes can be converted into ordinary shares of Active Energy, at any time prior to the maturity date, at a 30% premium to 2.535p, the company's 10 day volume weighted average price.

The company said the net funds raised would primarily be used to fund the construction of the first commercial scale CoalSwitch production plant for Active Energy's revolutionary CoalSwitch biomass fuel.

At 8:17am: (LON:AEG) Active Energy Group share price was 0p at 2.48p

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Related Company: AEG

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