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Active Energy Group - Conversion of existing Convertible Loan Notes

RNS Number : 1363B
Active Energy Group PLC
05 October 2020

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

5 October 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 £19,752 into new ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") pursuant to the terms of the CLNs. Accordingly, 1,975,200 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 8 October 2020.


Following Admission, the Company's enlarged issued share capital will comprise 1,541,178,043 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.











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: +44 (0)20 3470 0470

Allenby Capital Limited

Joint Broker

Amrit Nahal / David Worlidge

Office: +44 (0)20 3328 5656


Financial PR Adviser

Gordon Poole / Tom Huddart / Emily Hall

[email protected]

Office: +44 (0) 20 3757 4980


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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Quick facts: Active Energy Group PLC

Price: -

Market: LSE
Market Cap: -

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