Atome Energy has launched a PrimaryBid offer ahead of its spin-out from President Energy (LON: PPC) and flotation on AIM. The offer closes at 6pm on Monday 13 December. The AIM flotation should happen before the end of December.
President owns 85% of Atome Energy ahead of the fundraising and President’s boss Peter Levine’s company Alpha Oil owns 15%. President intends to distribute Atome shares to its own shareholders but retain a 25% shareholding. President has court approval for a capital restructuring that will allow the distribution and a record date for the distribution will be announced ...
