6th Aug 2014 06:57
LONDON (Alliance News) - Hydrogen energy company Acta SpA Wednesday said it has raised GBP2.0 million via a share placing with institutional investors, funds it said it will use to finance working capital requirements for its current commercial expansion.
The shares were placed at 3.0 pence per share.
"The net proceeds of the placing will be utilised to finance the company's strategic developments together with the anticipated growth of the company beyond the current financial year as commercial deployments accelerate and repeat orders continue to expand through larger deployments with major telecommunication companies," the company said in a statement.
As well as the placing shares, Acta SpA said an additional GBP34,000 has been contractually subscribed for by a number of directors and management, including Chief Executive Officer Paolo Bert and Chief Financial Officer Paul Barritt.
Board member | Role | Shareholding prior to the placing | Subscription in the Placing | Participation in the Placing | Shareholding following the Placing | |||
Paolo Bert | CEO | 17,455,879 | 10.24% | £15,000 | 500,000 | 0.74% | 17,955,879 | 7.54% |
Paul Barritt | CFO | 177,857 | 0.10% | £15,000 | 500,000 | 0.74% | 677,857 | 0.28% |
Robert Drummond | Non Exec. | 227,057 | 0.13% | £12,000 | 400,000 | 0.59% | 627,057 | 0.26% |
Aldo Filippini | Non Exec. | 71,429 | 0.04% | £12,000 | 400,000 | 0.59% | 471,429 | 0.20% |
Rodney Westhead | Non Exec. | 171,429 | 0.10% | £12,000 | 400,000 | 0.59% | 571,429 | 0.24% |
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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Related Shares:
ACTA.L