Business
Exercise of Warrants and Options
Exercise of Warrants and Options.
About this update from Active Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 5760Z Active Energy Group PLC 18 December 2017 \n\nActive Energy Group Plc / EPIC: AEG / Sector: Alternative Energy\n18 December 2017\nActive Energy Group Plc ('Active Energy' or 'the Group')\nExercise of Warrants and Options by Richard Spinks, CEO\n \nActive Energy, the London quoted international biomass based renewable energy and forestry management business is pleased to announce that pursuant to the receipt of exercise notices from Chief Executive Officer Richard Spinks for, (1) 40,000,000 options, it is issuing 40,000,000 ordinary shares of 1p each (\"Ordinary Shares\") at the exercise price of 1.25p per share (the \"New Ordinary Shares\") and (2) 1,733,333 warrants, it is issuing 1,733,333 New Ordinary Shares at the exercise price of 1.25p per share. Following this exercise, Mr Spinks will hold 52,105,333 Ordinary Shares or 6.013% of the voting share capital of Active Energy. The option and the warrant exercise raised £521,666, with the proceeds being utilised, in particular, to capitalise on the commercial activities of Active Energy. \n \nActive Energy Non-Executive Chairman, Michael Rowan, said, \"I am delighted by Richard's show of support for the Company at what is a pivotal time in our strategy. There is a huge amount happening, for both Timberlands International and Advanced Biomass Solutions. The funds will be used to capitalise on both opportunities, and further accelerate our plans to rapidly scale the business over the next 12 months.\" \n \nApplication has been made for the New Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and it is expected that this will take place on or around 29 December 2017 (\"Admission\").\n \nFollowing admission of the New Ordinary Shares, the Company's enlarged issued share capital will comprise 899,737,943 Ordinary Shares with voting rights. The Company currently holds 33,212,841 Ordinary Shares in Treasury and the figure of 866,525,102 Ordinary Shares 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 Disclosur...