24th Mar 2016 09:23
LONDON (Alliance News) - Intelligent Energy PLC shares plunged on Thursday after it said it will be unable to complete a funding process by the end of the first quarter.
The company said there is no certainty a funding plan can be completed at all and is it now reviewing its options.
The energy technology company said in late February it has received proposals to invest in the equity of its Indian energy management business and has received offers for a convertible bond.
But it said Thursday these will not be completed in line with its target of the end of the first quarter.
Shares in the company were down 88% to 5.28 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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