(Alliance News) - SulNOx Group PLC on Wednesday said it has raised GBP700,000 through a subscription of shares by Nistadgruppen AS, an existing substantial shareholder.
SulNOx is a London-based greentech company specialising in liquid hydrocarbon fuel decarbonisation.
It said Nistad has subscribed to 3.1 million shares priced at 22.50 pence each.
Shares in SulNOx were flat at 26.00p each on Wednesday afternoon.
Including the shares already held, Nistad now holds 16.3 million shares on Admission, a 14.4% stake.
SulNOx said it is expected that the funds raised under the subscription will be utilised for general working capital purposes.
Chair Radu Florescu commented, "I am delighted that Nistad have continued to show their confidence in the Company, its products and strategic direction, and shown this confidence in such a tangible fashion."
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
