Libertine Holdings PLC, a developer of clean, highly efficient and fuel-flexible Linear Generator products, is pleased to announce the admission of its entire issued and to be issued ordinary share capital to trading on the AIM market of the London Stock Exchange (“Admission”).
Admission took place and dealings commence on December 23, 2021 under the ticker LIB and ISIN GB00BN6PSG15.
Founded in 2009, the Group has developed a technology solution for powertrain original equipment manufacturers, enabling efficient and clean power generation from renewable fuels. Under the Placing, the Company has conditionally raised £9 million (before expenses).
The net proceeds will provide the Company with funds to increase headcount to support business development and commercial project delivery, enhance the Group’s technology platform for integration into customer products, and expand the Group’s existing operating facilities to provide further testing and prototype build capacity.
Admission follows a successful placing by Panmure Gordon (UK) Limited (“Panmure Gordon”), of 45,000,000 new ordinary shares (the “Placing Shares”) of 0.1 pence each in the capital of the Company (the “Shares”) at a price of 20 pence per share (the “Placing Price”) raising gross proceeds of £9.0 million.
On Admission the Company will have a market capitalisation of approximately £27.6 million and 138,089,010 Shares in issue.
Sam Cockerill, Chief Executive of Libertine, commented: “The successful completion of our IPO represents an exciting milestone and marks the beginning of the next phase for Libertine, building on our recent technical and commercial progress.
“This new investment will allow us to expand our core technology development and business development activities as we work with OEM partners to create Linear Generator products that will work alongside battery electrification to produce clean power from renewable fuels.
“I am delighted to welcome our new shareholders and would like to thank them for their support and for sharing our vision.
“We look forward to working with them in the years ahead, building on our strong foundations and delivering our growth plans as we help our OEM partners realise the full potential of Linear Generator technology.”