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
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