European Green Transition plc shareholders have today approved the £7.5 million fundraise earlier this month for 86% of the company’s issued ordinary share capital.
TVRs
The company will issue 4,583,333 warrants, at the issue price of six pence per ordinary share, in relation to a bridge facility from Raglan Road Capital Ltd.
The fundraise, via a placing and subscription, results in the issue of 125,000,000 new ordinary shares.
Following admission, European’s issued share capital will comprise 269,620,892 ordinary shares, with equal voting rights, and none of which are held in treasury.
The company’s non-core Sweden exploration projects are Olserum rare earth elements, which it is looking to sell or find a partner, and Pajala copper and graphite, currently under a sale option.
European’s main focus is now on wind energy projects in the UK and Ireland.