LONDON (Alliance News) - RedT Energy PLC on Tuesday said it raised GBP3.2 million via open offer of shares, as it received acceptances for the maximum amount of shares to be issued.
The energy storage systems provider issued 113.0 million shares, the maximum available under the previously announce offer, opened in mid-March.
"On March 14, we announced a number of current initiatives being worked on by redT. I am delighted to report on the progress to date and would like to express the board's thanks to the redT team delivering the commercial projects including our signed partnership with Statkraft, the supply agreement for the Energy Superhub Oxford project and the divestment of legacy Camco US business activities," Chair Neil O'Brien said.
He added: "The board is pleased to confirm that the strategic review is progressing well and the team remains focussed on restoring value for shareholders."
Admission of the shares to trading is expected on Wednesday, following approval at a meeting of shareholders to be held later on Tuesday.
RedT shares were trading down 3.7% at 2.17 pence each.
