LONDON (Alliance News) - AFC Energy PLC on Monday said two of its non-executive directors subscribed for shares as part of its share placing on Thursday.
Eugene Shvidler and Mitchell Field subscribed for 579,104 shares and 250,000 shares, respectively. The acquisition takes their shareholdings to 14.4 million and 2.9 million shares, equating to 4.77% and 0.9% of issued shares, respectively.
AFC Energy on Thursday said it had raised GBP2.5 million through a subscription and said it may raise a further GBP1.1 million through a further share offer.
The fuel cell power technology company said it raised the GBP2.5 million by issuing 12.4 million new shares in the company for 20.0 pence each, representing a 29% discount to the company's closing share price Wednesday.
AFC shares were down 2.2% at 22.98p Monday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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AFC Energy (AFC)