Last checked at 30 Jul 2021 13:00
Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
30 July 2021
Active Energy Group Plc
("Active Energy", "AEG", or the "Company")
Holding in Company, lock-in agreement and Director Dealings
Active Energy, the London quoted renewable energy company focused on the production and development of next generation biomass products, was notified on 30 July 2021 that Gravendonck Private Foundation ("Gravendonck") has disposed of a total of 89,623,809 ordinary shares of 0.01p each in the Company ("Ordinary Shares") at a price of 0.375p per Ordinary Share.
Following the disposal, Gravendonck is beneficially interested in 716,942,300 Ordinary Shares, representing 18.37% of the Company's total issued share capital with voting rights. Certain of the shares sold by Gravendonck have been acquired by Directors of the Company, as detailed further below.
Lock-in agreement
Gravendonck has entered into a lock-in agreement with the Company, pursuant to which it has undertaken not to dispose of any more of its remaining holding of 716,942,300 Ordinary Shares for a period of one year from today's date, other than with the prior consent of the board of AEG.
Director dealings
Certain of the shares sold today by Gravendonck have been acquired by Directors of AEG as follows:
Name | Number of Ordinary Shares purchased | Resultant holding of Ordinary Shares in the Company | Percentage of issued share capital |
James Leahy, Chairman | 5,000,000 | 10,000,000 | 0.3% |
Michael Rowan, CEO | 5,000,000 | 14,986,250 | 0.4% |
Further details of the purchases are set out in the tables below.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
ENDS
Enquiries | ||
Active Energy Group Plc | Michael Rowan (Chief Executive Officer) Andrew Diamond (Chief Financial Officer) | info@aegplc.com |
SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker | David Hignell / Caroline Rowe(Corporate Finance) Rob Rees (Sales) | Office: +44 (0)20 3470 0470 |
Allenby Capital Limited Joint Broker | Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales/Corporate Broking) | Office: +44 (0)20 3328 5656 |
Camarco Financial PR Adviser | Gordon Poole / Tom Huddart / Emily Hall | aeg@camarco.co.uk Office: +44 (0)20 3757 4980 |
About Active Energy Group:
Active Energy Group plc is a London listed (AIM: AEG) renewable energy company focused on the production and development of next generation biomass products that have the potential to transform the traditional coal-fired power industry and existing renewable biomass industry.
The Company has developed a proprietary technology which transforms waste biomass material into high-value renewable fuels. Its patented product CoalSwitchTM is a leading drop-in renewable fuel that can be co-fired with coal, completely replace coal as an alternative feedstock without requiring significant plant modifications or replace existing biomass feedstock resources. Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitchTM and further CoalSwitchTM fuel blends that utilise other waste wood and residual materials.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | James Leahy | ||||
2. | Reason for the Notification | |||||
a) | Position/status | Chairman | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Active Energy Group plc | ||||
b) | LEI | 213800P9PW3HJ5YJRK43 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.01 pence each | ||||
Identification code | GB00B1YMN108 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: - Aggregated volume - Price | N/A Single transaction
| ||||
e) | Date of the transaction | 30 July 2021 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Michael Rowan | ||||
2. | Reason for the Notification | |||||
a) | Position/status | CEO | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Active Energy Group plc | ||||
b) | LEI | 213800P9PW3HJ5YJRK43 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.01 pence each | ||||
Identification code | GB00B1YMN108 | |||||
b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: - Aggregated volume - Price | N/A Single transaction | ||||
e) | Date of the transaction | 30 July 2021 | ||||
f) | Place of the transaction | London Stock Exchange | ||||