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Voller Energy Announces Plans for AIM Listing

January 16, 2005 by Jeff Shepard

Voller Energy Group (UK), a manufacturer of portable fuel cells, announced plans for a listing on London's Alternative Investment Market (AIM), which will make it the third fuel cell company on the UK's smaller companies exchange. The initial public offering will see Voller attempt to raise £10 million to fund expansion of its manufacturing operations, and would give the company a market capitalization of £20 million following the cash-raising exercise.

Unconditional trading in Voller is set to begin on February 1, 2005. Voller is 50% owned by cofounders Stephen Voller and Mike Clarke, with eight private angel investors owning the other half of the company. The owners will not take money out of the company during the flotation, and all will see their stakes diluted by half through the issuance of more shares, leaving around 50% of the company owned by public shareholders.