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Active Energy

  • BY: Andrew Hore |
  • POSTED: 31/10/2010 |

Active Energy is selling its non-core business to its chief executive in order to concentrate on its voltage optimisation technology.

Kevin Baker will step down as chief executive of Active and Philip Palmer will become executive chairman.

Baker is paying 545,000 for the two gas ignition components suppliers.  An initial 70,000 will be paid and the rest will be paid in annual instalments over a five year period.

They are losing money but in 2009 generated revenues of 1.84m. Active says that it will save 150,000 a year in overheads.

At 4.625p a share, Active is valued at 5.19m.

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