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LONDON - Active Energy Group plc (AIM:AEG, OTCQB:ATGVF) announced Monday its intention to raise approximately £346,180 through a placing of new ordinary shares at 0.1 pence per share, representing a 66.6% discount to the July 4 closing price.
The biomass-based renewable energy company plans to issue up to 346,180,628 new shares, which would represent about 68.1% of the enlarged issued share capital. The placing is being conducted through an accelerated bookbuild process arranged by Zeus Capital Limited.
According to the company’s statement, the net proceeds will be used primarily for general working capital purposes. The placing utilizes existing share allotment authorities granted at the company’s annual general meeting held on February 27, 2025.
In a significant strategic shift, Active Energy also announced plans to establish a treasury function focused on digital assets, including Bitcoin. The company stated it may allocate up to 30% of its proprietary liquidity reserves to digital assets as part of its treasury management strategy.
The board indicated this approach aims to "mitigate the impact of currency fluctuations and inflationary pressures in key operational jurisdictions" while providing an alternative treasury management facility.
Active Energy acknowledged the risks associated with digital assets, noting their volatility and the potential for "significant dislocations between market capitalizations and the value of digital assets." The company plans to focus primarily on Bitcoin and is considering appointing a specialist digital assets consultant.
The placing shares are expected to be admitted to trading on AIM on or around July 11, 2025, subject to conditions including the placing agreement not being terminated.
This announcement is based on a press release statement from Active Energy Group.
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