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: [phone]
Allenby Capital Limited Joint Broker	Nick Naylor/James Reeve/Asha Chotai (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)	Office: [phone]
Camarco Financial PR Adviser	Gordon Poole / Tom Huddart / Emily Hall	[e-mail] Office: [phone]

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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