By Sheri Kasprzak
New York, March 15 - Compact Power Holdings plc said it is gearing up to close a £1,001,192 private placement with EnviroResources Ltd.
EnviroResources agreed to buy 3,240,106 shares at 30.9p each. The price per share is a 69.7% premium to the company's closing stock price of 18.2p on March 14.
The offering represents about 10% of the company's current share capital.
Payment for the shares will be issued in tranches ending May 1.
Connected to the placement, Compact granted exclusive licenses to EnviroResources to distribute Compact's technology in Scandinavia, Hong Kong and South Korea.
Compact, based in Avonmouth, England, develops technologies used to process wastes and biomass and convert them into energy.
| Issuer: | Compact Power Holdings plc
|
| Issue: | Stock
|
| Amount: | £1,001,192
|
| Shares: | 3,240,106
|
| Price: | 30.9p
|
| Warrants: | No
|
| Investor: | EnviroResources Ltd.
|
| Announcement date: | March 15
|
| Stock symbol: | London: CPO
|
| Stock price: | 18.2p at close March 14
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
