LONDON (Alliance News) - Gresham House PLC said Monday it placed 304,877 shares to fund an investment into battery storage projects managed by Gresham House New Energy.
The alternative asset manager invested GBP2 million to acquire shares in operational energy storage system projects as well as a 25% stake in Noriker Power Ltd, a developer and service provider of new energy technology.
The investment consists of a cash consideration of GBP750,000 and GBP1.3 million raised through a share placing.
The new shares have been placed at 410 pence each and admission is expected to occur on Thursday.
Gresham House shares were trading down 0.2% at 442.00 pence each.
