A key shareholder in biomass power plant builder Helius Energy (LON:HEGY) has increased his stake in the firm from below five per cent to more than one-fifth of the company.
Seafood tycoon Alastair Salvesen’s holding has gone from 4,473,294 shares to 28,168,572, the equivalent of 21.26 per cent of the business, according to a statement from the firm this morning.
Salvesen has been involved in the seafood industry for more than 30 years, holding senior positions in a number of companies including chairman of Dawnfresh Seafoods. He is also a director of Archangels – a business angel network of around 100 high net worth individuals that invests in early-stage companies.
Early in October, Helius announced plans to raise £6.6 million via a share placing at 16 pence per share – a premium to the then share price which chief financial officer Alan Lyons described as “a cracking result in this market”.
The funds will be used to strengthen Helius’s balance sheet and provide additional working capital to allow the company to progress its immediate and longer-term pipeline of projects, including seeking to secure: project-level funding for the firm’s Avonmouth power project; and planning consent for its Southampton project.
Shares in Helius were unchanged in early trading this morning at 15 pence each.