Business
Over Subscribed Open Offer
Over Subscribed Open Offer.
About this update from H-power Plc
[{"type":"text","content":"\n \nRNS Number : 3929Y AFC Energy Plc 02 March 2017 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN, NEW ZEALAND OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL SECURITIES LAWS OR REGULATIONS.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY NEW ORDINARY SHARES, NOR SHALL IT (OR ANY PART OF IT), OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, OR ACT AS ANY INDUCEMENT TO ENTER INTO, ANY CONTRACT OR COMMITMENT WHATSOEVER WITH RESPECT TO THE PROPOSED PLACING.\n \nAFC Energy PLC\n(\"AFC Energy\" or the \"Company\")\n \nOver Subscribed Open Offer and Director Shareholdings\n \n \nAFC Energy, the industrial fuel cell power company, is pleased to announce that the Open Offer to raise up to approximately £2.1 million at 10 pence per share has been oversubscribed by 56.9% and that the Company has successfully raised £2.1 million through the Open Offer. \n \nThe Open Offer closed for acceptances at 11.00 a.m. on 2 March 2017 and the Company received valid acceptances in respect of the entirety of the Open Offer Shares from Qualifying Shareholders. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement. Applications under the Excess Application Facility will be scaled back in accordance with the terms of the Open Offer. \n \nThe Company has therefore raised aggregate gross proceeds of £2.1 million through the Open Offer. \n \n \nDirector Shareholdings \n \nBoth Tim Yeo and Mitchell Field participated in the Open Offer, and as a result the...