News blog
GEM BioFuels
- BY: Andrew Hore |
- POSTED: 19/12/2011 |
Jatropha plantations developer GEM BioFuels is raising £350,000 at 1p a share.
At 3p a share, GEM is currently valued at £1.06m. There was £99,000 in the bank at the end of June 2011, as well as a convertible note worth £412,500. There was a £45,000 cash outflow in the first half of 2011.
RAB Special Situations is subscribing for 33m of the 35m shares being placed. The convertible notes will be converted at the same time as the placing. The first £200,000 will be converted at 1.5p a share and the rest at 2.5p a share. Chairman Simon Hunt will also capitalise his fees and he will receive 1m shares at 2.5p a share. RAB will end up with 54.7% of GEM.
Because holders of 95% of the shares are in agreement a general meeting has been arranged at short notice. It will be held on 20 December.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|