Conversion of existing Convertible Loan Notes

RNS Number : 0163X

Active Energy Group PLC

25 August 2020

 

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

25 August 2020

Active Energy Group Plc

('Active Energy', 'AEG', or the 'Company')

Conversion of existing Convertible Loan Notes 

Active Energy, the London quoted international biomass based renewable energy and forestry management business, announces that a holder of convertible loan notes issued by the Company (the "CLNs") has elected to convert CLNs with a nominal value of £72,284 into new ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") pursuant to the terms of the CLNs. Accordingly, 7,228,400 new Ordinary Shares have been issued to the CLN holder in accordance with the terms of the CLNs at a conversion price of 1p (the "Conversion Shares").

Total Voting Rights

Application has been made for the Conversion Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8:00am on or around 1 September 2020.

Following Admission and prior to Active Energy's proposed share capital reorganisation which was announced on 20 August 2020, the Company's enlarged issued share capital will comprise 1,287,536,163 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

Website	LinkedIn
www.aegplc.com	www.linkedin.com/company/activeenergy

Enquiries
Active Energy Group Plc	Michael Rowan Chief Executive Officer Antonio Esposito Chief Operations Officer
SP Angel Corporate Finance LLP Nominated Adviser and Broker	David Hignell / Caroline Rowe	Office: [phone]
Allenby Capital Limited Joint Broker	Amrit Nahal / David Worlidge	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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