Announcement by Plutus Resources plc
Patersnoster is pleased to note the announcement today by one of its investments, Plutus Resources plc ("Plutus Resources").
Plutus Resources today announced the proposed acquisition of Plutus Energy Limited ("Plutus Energy"), a company established for the purpose of generating power from flexible stand-by power generation farms and generating revenues through the sale of this power to large energy supply companies during periods of peak electricity demand or Grid instability. The consideration for the Acquisition is £485,000.
Plutus Resources further announced that the Company has raised £800,000 through a placing to fund the working capital requirements of the enlarged group.