LONDON (Alliance News) - Active Energy Group PLC on Monday said it has raised GBP1 million via a share placing to back the expansion of its wood chip operations.
The company has issued 20 million shares at 5 pence per share. Shares in Active Energy were up 2% to 5.00 pence on Monday morning.
The company intends to use the proceeds from the placing to expand its wood chip operations and to meet demand from the Turkish MDF manufacturing sector.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Active Energy (AEG)