Reallocation of Subscription Shares
2m subscription shares reallocated to four new investors at £0.20 per share, raising £400,000.
- Subscription Shares reallocated 2,000,000
- Subscription price per share £0.20
- Gross proceeds £400,000
- Total Ordinary Shares in issue 158,839,050
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Technologies New Energy plc (LSE: TNE), the energy transition company focused on developing clean energy projects to drive industrial decarbonisation for clients with international business operations, announces that following the cancellation of two English law governed subscription agreements, dated 12 March 2025, the board of directors of the Company has resolved that, following the forfeiture of a total of 2,000,000 ordinary shares of £0.10 each ("Ordinary Shares"; the "Subscription Shares") by the relevant subscribers in accordance with the Company's articles of association, the Subscription Shares have now been reallocated to four new investors who have subscribed for them on the same terms at a subscription price of £0.20 per Subscription Share, resulting in gross proceeds of £400,000 being payable to the Company (the "Subscription Proceeds").
The Company further confirms that the Subscription Proceeds have been received by it in full.
Total Voting Rights
The Company confirms the reallocation of Subscription Shares will not alter the total number of Ordinary Shares in issue and as at 27 May 2025, its issued share capital still comprises 158,839,050 Ordinary Shares. Each Ordinary Share carries the right to one vote in relation to all circumstances at general meetings of TNE. The Company does not hold any shares in treasury and therefore the total number of voting rights attributable to the Ordinary Shares is 158,839,050.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.