04/10/2005 ACTA SpA opens the London Markets
The London Stock Exchange is delighted to welcome Acta S.p.A. to AIM.
4 October 2005
Acta develops and produces platinum-free catalysts for the fuel cell industry. Catalysts traditionally used in low temperature fuel cells contain either platinum or platinum group metals (“PGM”s). PGM catalysts are expensive and limit the fuels usable in fuel cells to hydrogen and methanol, both of which have significant issues in being introduced to widespread use. Acta’s new catalysts allow the use of ethanol, which is safe, practical and comes from renewable sources, as well as ethylene glycol and gasoline.
Acta successfully raised approximately £9 million through a placing of 7,200,000 Shares at a price of 125p per share, valuing the company at approximately £45 million.
Paolo Bert, Chief Executive of Acta S.p.A, commented:
“AIM will provide a perfect early stage public market for Acta. An ever increasing number of international companies are coming to the AIM market on account of its excellent reputation for growth companies. With the funds raised, we will be able to implement our Research and Development programme, strengthen our sales and marketing function and, in so doing, enable the competitive launch of fuel cells to the consumer market. We look forward to developing as a Public Company and ultimately to delivering value to our shareholders.”
Numis Securities Limited is acting as Nominated Adviser and Broker to the Company.