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(Correcting Spinks' beneficial interest.)
LONDON (Alliance News) - Active Energy Group PLC Tuesday said Chief Executive Officer Richard Spinks bought 300,000 shares at a price of 5.5 pence per share Monday.
Following this transaction, Spinks is beneficially interested in 9.8 million shares, representing approximately 1.75% of the issued share capital.
The company Monday said it has raised GBP1 million via a share placing to back the expansion of its wood chip operations. It issued 20 million shares at 5 pence per share and said it intends to use the proceeds from the placing to expand its wood-chip operations and to meet demand from the Turkish MDF manufacturing sector.
Shares in woodchip supplier were down 2.7% at 5.35p Tuesday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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