Investors are buying shares at 98.5p each - a modest premium to last night's close
The alternative energy company () has raised £3.7mln via a stock placing.
Investors bought shares at 98.5p each, a modest premium to Thursday’s closing price.
A small portion of the cash will be used to help bolster the balance sheet and meet working capital requirements.
Use of proceeds
The funds will also be deployed as ‘market collateral’ for grid balancing (£1mln), while £1.5mln will be invested in separate raising by partner Incubex.
The placing was done by way of accelerated book-build overseen by City firms finnCap and Whitman Howard.
AMP, a specialist in wood fuels and the financing and installation of distributed energy projects, said it expects to post turnover of £30mln for the year to March.
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