AFC Energy (AFC)
AFC Energy receives shareholder approval for £8.1m capital raise
AFC Energy has confirmed that shareholders have approved the issue of 80,684,262 New Ordinary Shares to raise, in aggregate, £8.1m before expenses.
The Company said:
The net proceeds of the Fundraise will be used to support the Company on its journey to commercialisation, and specifically for:
- delivery of its commitments under the Company's joint development agreement with De Nora S.p.A. ("De Nora");
- business case development with De Nora;
- scoping study completion with Peel Environmental Limited and other third parties in advance of any potential project deployment;
- fund the ongoing operation of the Company's demonstration plant at Stade, together with ongoing testing costs; and
- general administrative expenses and ongoing working capital.
At 1:34pm: (LON:AFC) AFC Energy PLC share price was -0.5p at 13.88p
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|Bid / Ask||9.3 / 9.7|
|Day Range||9.5 / 10.25|
|52Week Range||9.50 / 19.55|
|Last Update: 17:38:12 (25/05/18)|