TIDMAEG
RNS Number : 9477W
Active Energy Group PLC
29 December 2021
Active Energy Group Plc / EPIC: AEG / Sector: Alternative
Energy
29 December 2021
Active Energy Group Plc
('Active Energy', or the 'Company')
Result of General Meeting, changes to director and substantial
shareholder shareholdings and Total Voting Rights
Active Energy, the London AIM-quoted renewable energy business
focused on the production of next generation energy pellets,
announces that at the General Meeting held earlier today, all
resolutions were duly passed, and therefore the Conditional
Fundraising and Subscription, announced on 9 December 2021, have
been approved by Shareholders.
Michael Rowan, CEO of Active Energy, said:
"We would like to thank shareholders for their ongoing support
of AEG as we deliver on the commercial viability and scalability of
CoalSwitch(TM) technology. Operations are continuing at pace, with
the permit application process in Ashland, Maine well underway. We
look forward to the New Year with optimism as we deliver on our
strategy of producing next generation energy pellets."
The proxy voting results for the resolutions are copied
below:
Resolution Votes For % of Votes Against % of Votes Total votes
votes votes Withheld* cast*
cast cast
1. Conditional
on the passing
of Resolution
2, to authorise
the
Directors to
issue or grant
rights in respect
of New Ordinary
Shares up to
1,078,158,001. 1,389,332,786 98.77% 17,306,107 1.23% 3,671,247 1,406,638,893
-------------- ------- -------------- ------- ----------- --------------
2. Conditional
on the passing
of Resolution
1, to authorise
the
Directors to
issue or grant
rights in respect
of the New Ordinary
Shares on a
non-pre-emptive
basis 1,387,845,264 98.66% 18,793,629 1.34% 3,671,247 1,406,638,893
-------------- ------- -------------- ------- ----------- --------------
3. Conditional
on the passing
of Resolution
4, to authorise
the
Directors to
issue or grant
rights in respect
of new ordinary
shares
up to 1,869,519,216 1,209,668,486 86.00% 196,970,407 14.00% 3,671,247 1,406,638,893
-------------- ------- -------------- ------- ----------- --------------
4. Conditional
on the passing
of Resolution
3, to authorise
the
Directors to
issue or grant
rights in respect
of the new ordinary
shares on a
non-pre-emptive
basis 1,206,516,140 85.77% 200,122,753 14.23% 3,671,247 1,406,638,893
-------------- ------- -------------- ------- ----------- --------------
Resolutions 1 and 3 were proposed as ordinary resolutions and
resolutions 2 and 4 were proposed as special resolutions.
*Votes "Withheld" are not votes in law and do not count in the
number of votes counted for or against a resolution.
Pursuant to the Conditional Fundraising and Subscription,
application has been made for the admission of 1,078,158,001 New
Ordinary Shares to trading on AIM. In addition, the Company has
become aware that the number ordinary shares of 0.01p each in the
Company (the "Ordinary Shares") that are currently in issue exceeds
the number of Ordinary Shares for which applications have been made
for admission to trading on AIM by one Ordinary Share. As a result,
the Company has applied for the additional Ordinary Share to be
admitted to trading on AIM at the same time as the admission of the
1,078,158,001 New Ordinary Shares to trading on AIM (together
"Admission").
It is expected that Admission will take place at 8.00 a.m. on or
around 30 December 2021, subject to the Placing Agreement becoming
fully unconditional save only for the condition as to
Admission.
Changes to director and substantial shareholder
shareholdings
Certain directors of the Company subscribed for an aggregate of
30,500,000 New Ordinary Shares pursuant to the Fundraising. Their
shareholdings as they will be on Admission are set out below:
Director Ordinary Shares Percentage of issued
held on Admission share capital held
on Admission
Michael Rowan, Chief Executive
Officer 27,486,250 0.49%
James Leahy, Non-Executive
Chairman 20,000,000 0.35%
Jason Zimmermann, Non-Executive
Director 4,461,500 0.08%
Andrew Diamond, Finance
Director 3,000,000 0.05%
Max Aitken, Non-Executive
Director 4,000,000 0.07%
On Admission, Gravendonck Private Foundation ("Gravendonck"), a
substantial shareholder in the Company, will have an interest in
716,942,300 Ordinary Shares, representing 12.66% of the Company's
issued share capital.
Total Voting Rights
On Admission, the Company will have 5,665,209,745 Ordinary
Shares in issue, each with one voting right. There are no shares
held in treasury. Therefore, the Company's total number of Ordinary
Shares and voting rights is 5,665,209,745 .
The above figure of 5,665,209,745 Ordinary Shares may be used by
shareholders from Admission as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
Defined terms used in this announcement shall have the same
meaning as in the announcement of 9 December 2021 unless otherwise
defined herein.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries:
Active Energy Group Michael Rowan (Chief Executive info@aegplc.com
Plc Officer)
Andrew Diamond (Chief Financial
Officer)
Nick Naylor / James Reeve
(Corporate Finance)
Allenby Capital Limited
Nominated Adviser Amrit Nahal (Sales and Corporate +44 (0)20 3328
and Joint Broker Broking) 5656
John Prior / James Sinclair-Ford
/ Harriette Johnson (Corporate
Finance)
Panmure Gordon & Co +44 (0)20 7886
Joint Broker Hugh Rich (Corporate Broking) 2500
Camarco Gordon Poole / Tom Huddart aeg@camarco.co.uk
Financial PR Adviser / Emily Hall +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(TM) 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 significant plant modification. Active Energy Group's
immediate strategic focus is the production and commercialisation
of CoalSwitch(TM).
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END
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December 29, 2021 05:34 ET (10:34 GMT)
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