React Energy Issues Shares To Concert Party (ALLISS)

LONDON (Alliance News) - React Energy PLC on Wednesday said the concert party of EcoFinance, Nirvana and Altair has exercised its rights under a so-called equity kicker, meaning the company will issue 7.0 million shares to the investors.

The concert party will therefore hold 7.2 million shares in the company, equivalent to a 9.59% stake.

Depending on other factors, including whether warrants are exercised, the concert party could come to own 45.06% of React Energy.

Shares in React closed up 3.5% at 5.18 pence on Wednesday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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