7 Feb 2014 07:00
AUHUA CLEAN ENERGY PLC
("Auhua" or the "Company")
Announcement of Fundraising
7 February 2014: Auhua Clean Energy plc, the AIM quoted (AIM: ACE) environmental technology group announces that it is seeking to raise up to £10 million through the issuance of new shares (the "fundraising").
The Directors intend the fundraising to help further enhance Auhua's market position and presence in the solar energy market. The use of proceeds are planned:
· To invest in production and market expansion;
· To expand into next generation solar thermal collectors;
· For general working capital.
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Media Enquiries
Brunswick | Carolina Danspeckgruber | auhua@brunswickgroup.com |
Further information
Auhua Clean Energy plc | David Sumner, non-executive Chairman | +971 555 923198 davidjsumner@auhuacleanenergy.com |
Grant Thornton UK LLP (Nominated Adviser) | Philip Secrett / Maureen Tai / Jamie Barklem | +44 (0)20 7383 5100 jamie.r.barklem@uk.gt.com |
Peat & Co (co-broker) | Charlie Peat | +44 (0)203 540 1721 Charlie.peat@peatandco.com |
Cornhill Capital Limited (co-broker) | Nick Bealer | +44 (0)20 7710 9610 nickb@cornhillcapital.com |
Beaufort Securities (co-broker) | Guy Wheatley | +44(0)20 7832 8300 Guy.Wheatley@beaufortsecurities.com |
About Auhua:
Auhua Clean Energy (www.auhuacleanenergy.com) is an environmental technology group based in the Shandong Province of Eastern China specialising in the development and application of green energy and energy efficient solar water heating solutions. In particular, the Group is focused on the manufacture and sale of split-unit solar water heating systems.
Auhua Clean Energy operates through its wholly owned subsidiaries Shandong Auhua New Energy Co., Ltd and Weihua Auhua New Energy Co., Ltd., of which Auhua Holdings Pte Ltd is the intermediate holding company.