Business
Announcement by Plutus Resources plc
Announcement by Plutus Resources plc.
About this update from Tooru Plc
[{"type":"text","content":"\n \nRNS Number : 8651P Paternoster Resources PLC 22 August 2014 \n \n\n22 August 2014\nPaternoster Resources plc\n(\"Paternoster\" or the \"Company\")\n \nAnnouncement by Plutus Resources plc\n \nPaternoster is pleased to note the announcement today by one of its investments, Plutus Resources plc (\"Plutus Resources\").\nPlutus Resources today announced the approval of the acquisition of Plutus Energy Limited (\"Plutus Energy\"), a company established for the purpose of generating power from flexible stand-by power generation farms and generating revenues through the sale of this power to large energy supply companies during periods of peak electricity demand or Grid instability.\nPlutus Resources further announced that the Company has raised £800,000 through a placing to fund the working capital requirements of the enlarged group. Plutus Resources has also changed its name to Plutus PowerGen plc (\"Plutus Powergen\").\nNicholas Lee, Chairman of Paternoster, said: \n\"I am very pleased that the acquisition by Plutus Resources of Plutus Energy and the raising of £800,000 to fund the development of this business has now been completed. Paternoster originally invested £100,000 in Plutus Resources at 0.25p per share and £100,000 in the form of a convertible loan note. This loan note plus accrued interest has now been converted on the basis of 0.25p per share. The current share price of the company is 0.78p, representing some 3.1 times the level of our original investment\".\nThe full announcement released by Plutus Resources can be found at its website: http://www.plutusresourcesplc.com/\n \nFor more information please contact:\n \n\n\n\n\nPaternoster Resources plc:\n\n\n\n\n\n\n\nNicholas Lee, Chairman\n\n\n+44 20 7580 7576\n\n\n\n\n \n\n\n\n\nNominated Advisor and Joint Broker:\n\n\n\n\n\n\n\nWesthouse Securities\n\n\n\n\n\n\n\nAntonio Bossi / David Coaten\n\n\n+44 20 7601 6100\n\n\n\n\n \n\n\n\n\nJoint Broker:\n\n\n\n\n\n\n\nPeterhouse Capital Limited\n\n\n\n\n\n\n\nLucy Williams\n\n\n+44 20 7562 3351\n\n\n\n\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCQKBDBBBKDNFB\n ","length":4683,"tagName":"div"}]