Options a plenty for MetalNRG
“…The idea is for MetalNRG to start generating revenue, to become a grown up company and be self sustainable and actually give something back to investors…”
Prospectus out, money raised, green credentials ratified and ‘buckets of interest’ in several direct and indirect investments and the news is flowing from MetalNRG plc.
The company is a main board listed business and Chief Executive Rolf Gerritsen stresses his enterprise shouldn’t be compared to a cash raising, dilutive business more akin to an AIM start up.
This is a grown up company with industry veterans on board. Non executives include the often dour, unflusterable Christian Schaffalizky who uncharacteristically made an almost excited statement in the recent RNS about the Gold Ridge project in Arizona. Schaffalizky’s enthusiasm is shared by Dr. Bart Stryhas. He was involved with the recent Competent Person’s Report and is now not only working for MetalNRG, but happy to accept shares as part of his compensation.
Then there’s the company’s participation in the recommissioning of the Italian waste-to-energy plant. There are a lot of big boys and girls involved with that project. There’s EQTEC’s multilingual CEO David Palumbo, two family offices and the equally multilingual Gerritsen.
Together they are speaking the same language. That of transitioning towards green energy and how together they can make money while doing good, and making shareholders happy.
Today, the company announces that is has entered into an option agreement with BritEnergy Holdings LLP , and the current holder of 500 ordinary shares in BritNRG Limited. The Option Agreement provides that MetalNRG may acquire a further 150 ordinary shares in BritNRG Limited, which is the special purpose vehicle focused on the development of oil & gas and other energy sector assets. The option rights extend to a total of 15% of the issued ordinary share capital of BritNRG and, if exercised, would take MetalNRG’s interest in BritNRG to 65%, assuming MetalNRG has also exercised all options granted to it under the shareholders agreement relating to BritNRG, which includes conversion of the outstanding convertible loan note in the sum of £175,000 into 194 ordinary shares of BritNRG.
Listen to Rolf speak to Sarah Lowther about the participation in bullion, biomass and BritNRG and the additional investments that are being considered for the portfolio.
Watch Rolf speak to ProactiveUK’s Katie Pilbeam about the ‘bigger picture’ at the Gold Ridge project and teaming up with EQTEC.
Read the company’s corporate presentation
Follow the company on Twitter @MetalNRGplc
The author was remunerated but does not hold shares in the company