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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Plutus Powergen Plc | LSE:PPG | London | Ordinary Share | GB00B1GDWB47 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.025 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPPG
RNS Number : 1252L
Plutus PowerGen PLC
08 January 2021
8 January 2021
Plutus PowerGen plc
('Plutus' or 'the Company')
Statement re share price movement
Plutus notes today's share price increase and can confirm that it is not aware of any reason for the increase.
The Company was reclassified as an AIM Rule 15 Cash Shell on 10 December 2020. Following its reclassification as an AIM Rule 15 cash shell, the Company is required to make an acquisition which constitutes a reverse takeover under the AIM Rules by 10 June 2021, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40. The Company's admission to trading on AIM would then be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
The Company's Directors are focused on sourcing an appropriate reverse takeover candidate for Plutus. At present, no assurances can be provided that the effort will be successful to source and/or complete a reverse takeover transaction.
At the current time the Company has adequate cash resources and working capital for 12 months . However, the Company is considering short term funding options to assist in covering the additional costs of any potential future reverse takeover transaction.
The Company's Directors will provide shareholders with further updates as appropriate.
Plutus PowerGen PLC Tel: +44 (0) 20 8720 6562 Charles Tatnall, Executive Chairman James Longley, Interim CEO and Finance Director Allenby Capital Limited ( Nominated Adviser Tel: +44 (0)20 3328 5656 and Joint Broker) Nick Athanas Nick Naylor James Hornigold Turner Pope Investments (TPI) Limited Tel: +44 ( 0) 20 3657 (Joint Broker) 0050 Andy Thacker Pello Capital Limited (Joint Broker) Tel: +44 (0) 20 3700 2492 Callum Hill St Brides Partners Limited (Financial Tel: +44 (0)20 7236 1177 PR) Cosima Akerman
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(END) Dow Jones Newswires
January 08, 2021 09:58 ET (14:58 GMT)
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