AFC Energy Raises Over GBP1 Million To Get It Through Covid-19

Mon, 23rd Mar 2020 18:45

(Alliance News) - Hydrogen power technology firm AFC Energy PLC has raised GBP1.4 million from an existing shareholder, it said Monday.

AFC placed 14.0 million new shares at 10 pence each. It did not say which shareholder took the new shares. This price is a 19% discount to AFC's closing price of 12.3p on Thursday last week in London.

Shares ended 11% lower on Monday in London at a price of 12.50p each.

The funds will give it enough liquidity to get it through a "prolonged" Covid-19 pandemic in the UK, it said.

By George Collard; georgecollard@alliancenews.com

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