Advertisement

Altona Energy secures two million-pound financing facility

Altona Energy, the AIM-listed energy company, has entered into a two million-pound equity financing facility (EFF) with Darwin Strategic, a majority owned subsidiary of Henderson Global Investors' Volantis Capital.

Altona Energy, the AIM-listed energy company, has entered into a two million-pound equity financing facility (EFF) with Darwin Strategic, a majority owned subsidiary of Henderson Global Investors' Volantis Capital.

The EFF agreement with Darwin and Henderson Volantis provides Altona with a facility of up to £2.0m, which -subject to certain limited restrictions- can be drawn down at any time over the next three years.

Advertisement - Article continues below

Altona reported that it was under no obligation to make a draw down and could make drawdowns at its discretion, up to the total value of the EFF, by way of issuing subscription notices to Darwin.

In conjunction with the EFF, Altona disclosed that it had entered into a warrant agreement with Darwin dated April 12th, to subscribe for up to 4.5m ordinary shares, such warrants to be exercisable for up to 36 months at a 30% premium to closing mid-market price from the date of the warrant agreement.

Christopher Lambert, Chairman of Altona Energy, commented: "This new £2.0m facility gives Altona access to efficient, cost effective financing, as needed. The facility can be used entirely at our discretion and considerably de-risks our future financing."

Altona Energy's share price was up 4.0% to 1.30p at 09:48 on Monday.

MF

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?
UK Economy

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?

John Stepek runs his eye over the chancellor's £30bn stimulus package and asks if it's enough to get the economy back on its feet after months of lock…
9 Jul 2020
Have small companies lost their edge?
Sponsored

Have small companies lost their edge?

SPONSORED CONTENT – The tectonic plates beneath the modern investing landscape appear to have started moving in new directions
26 Jun 2020