IN BRIEF: Cash shell Plutus plots metallurgical coal mine buy

Plutus PowerGen PLC - cash shell - Signs non-binding terms with MBU Capital Group Ltd to acquire ...

Alliance News 11 June, 2021 | 2:17PM
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Plutus PowerGen PLC - cash shell - Signs non-binding terms with MBU Capital Group Ltd to acquire Ben's Creek Carbon LLC, which constitute a reverse takeover. Plutus shares suspended as a result. Ben's Creek is a mine in West Virginia, US which historically has produced metallurgical coal. Plutus adds: "It is proposed that the consideration for the proposed acquisition is to be satisfied entirely via the issue of new ordinary shares in the company to MBU Capital." Plutus says new chief executive and chief financial officer as well two new non-executives to join board when acquisition sealed.

Current stock price: 0.022 pence

Year-to-date change: down 28%

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Plutus PowerGen PLC 0.03 GBX 42.86 -

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