Rurelec plc (GB:RUR) has released an update.
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Rurelec PLC aims to secure £450,000 through a new share subscription to provide working capital until autumn, with plans for a capital reorganisation and a general meeting scheduled for 13 May 2024. The company is actively seeking to dispose of its Turbine assets and is preparing for a potential reverse takeover by becoming a cash shell to attract acquisition candidates. The capital reorganisation will include a subdivision of each ordinary share to create new ordinary and deferred shares, facilitating the issuance of shares at a price lower than their nominal value.
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