ACTIVE ENERGY GROUP PLC

AGM Information • Dec 29, 2021

National Storage Mechanism | Additional information

RNS Number : 9477W

Active Energy Group PLC

29 December 2021

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

29 December 2021

Active Energy Group Plc

('Active Energy', or the 'Company')

Result of General Meeting, changes to director and substantial shareholder shareholdings and Total Voting Rights

Active Energy, the London AIM-quoted renewable energy business focused on the production of next generation energy pellets, announces that at the General Meeting held earlier today, all resolutions were duly passed, and therefore the Conditional Fundraising and Subscription, announced on 9 December 2021, have been approved by Shareholders.

Michael Rowan, CEO of Active Energy, said:

"We would like to thank shareholders for their ongoing support of AEG as we deliver on the commercial viability and scalability of CoalSwitch™ technology. Operations are continuing at pace, with the permit application process in Ashland, Maine well underway. We look forward to the New Year with optimism as we deliver on our strategy of producing next generation energy pellets."

The proxy voting results for the resolutions are copied below:

Resolution	Votes For	% of votes cast	Votes Against	% of votes cast	Votes Withheld*	Total votes cast*
1. Conditional on the passing of Resolution 2, to authorise the Directors to issue or grant rights in respect of New Ordinary Shares up to 1,078,158,001.	1,389,332,786	98.77%	17,306,107	1.23%	3,671,247	1,406,638,893
2. Conditional on the passing of Resolution 1, to authorise the Directors to issue or grant rights in respect of the New Ordinary Shares on a non-pre-emptive basis	1,387,845,264	98.66%	18,793,629	1.34%	3,671,247	1,406,638,893
3. Conditional on the passing of Resolution 4, to authorise the Directors to issue or grant rights in respect of new ordinary shares up to 1,869,519,216	1,209,668,486	86.00%	196,970,407	14.00%	3,671,247	1,406,638,893
4. Conditional on the passing of Resolution 3, to authorise the Directors to issue or grant rights in respect of the new ordinary shares on a non-pre-emptive basis	1,206,516,140	85.77%	200,122,753	14.23%	3,671,247	1,406,638,893

Resolutions 1 and 3 were proposed as ordinary resolutions and resolutions 2 and 4 were proposed as special resolutions.

*Votes "Withheld" are not votes in law and do not count in the number of votes counted for or against a resolution.

Pursuant to the Conditional Fundraising and Subscription, application has been made for the admission of 1,078,158,001 New Ordinary Shares to trading on AIM. In addition, the Company has become aware that the number ordinary shares of 0.01p each in the Company (the "Ordinary Shares") that are currently in issue exceeds the number of Ordinary Shares for which applications have been made for admission to trading on AIM by one Ordinary Share.  As a result, the Company has applied for the additional Ordinary Share to be admitted to trading on AIM at the same time as the admission of the 1,078,158,001 New Ordinary Shares to trading on AIM (together "Admission").

It is expected that Admission will take place at 8.00 a.m. on or around 30 December 2021, subject to the Placing Agreement becoming fully unconditional save only for the condition as to Admission.

Changes to director and substantial shareholder shareholdings

Certain directors of the Company subscribed for an aggregate of 30,500,000 New Ordinary Shares pursuant to the Fundraising. Their shareholdings as they will be on Admission are set out below:

Director	Ordinary Shares held on Admission	Percentage of issued share capital held on Admission
Michael Rowan, Chief Executive Officer	27,486,250	0.49%
James Leahy, Non-Executive Chairman	20,000,000	0.35%
Jason Zimmermann, Non-Executive Director	4,461,500	0.08%
Andrew Diamond, Finance Director	3,000,000	0.05%
Max Aitken, Non-Executive Director	4,000,000	0.07%

On Admission, Gravendonck Private Foundation ("Gravendonck"), a substantial shareholder in the Company, will have an interest in 716,942,300 Ordinary Shares, representing 12.66% of the Company's issued share capital.

Total Voting Rights

On Admission, the Company will have 5,665,209,745 Ordinary Shares in issue, each with one voting right.  There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights is 5,665,209,745.

The above figure of 5,665,209,745 Ordinary Shares may be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms used in this announcement shall have the same meaning as in the announcement of 9 December 2021 unless otherwise defined herein.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Enquiries:

Active Energy Group Plc	Michael Rowan (Chief Executive Officer) Andrew Diamond (Chief Financial Officer)	info@aegplc.com
Allenby Capital Limited Nominated Adviser and Joint Broker	Nick Naylor / James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)	+44 (0)20 3328 5656
Panmure Gordon & Co Joint Broker	John Prior / James Sinclair-Ford / Harriette Johnson (Corporate Finance) Hugh Rich (Corporate Broking)	+44 (0)20 7886 2500
Camarco Financial PR Adviser	Gordon Poole / Tom Huddart / Emily Hall	aeg@camarco.co.uk +44 (0)20 3757 4980

About Active Energy Group

Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels. Its patented product CoalSwitch™ is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring significant plant modification. Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch™.

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