News Column

Acta SpA Raises GBP2.0 Million In Share Placing To Fund Expansion

August 5, 2014

Rowena Harris-Doughty



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%












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Source: Alliance News


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