Proventus Renewables joins GXG after reverse takeover

(SeeNews) - May 28, 2012 - Proventus Renewables Plc, an Ireland-based green energy firm with a focus on Central and Eastern Europe, has moved to GXG Markets in London, upon the close of a reverse takeover by digital media network developer Captive Audience Display Solutions Plc.

Proventus Renewables, set up in October 2010 as Proventus Energy Plc to tap wind and solar power opportunities in Bulgaria, is currently developing wind farms and solar power plants in Bulgaria and has a market capitalisation of GBP 52 million (USD 82.6m/EUR 65.1m), it said in a statement today.

At an extraordinary general meeting on May 25, the shareholders of Captive Audience Display Solutions approved a EUR-55-million (USD 69m) reverse takeover deal and transfer to GXG Markets, leaving the London-bases stock and derivatives exchange PLUS.

GXG is a Danish-regulated market operating in the UK with a focus on small and mid-sized European companies.

(GBP 1 = USD 1.569/EUR 1.251)
(EUR 1 = USD 1.254)

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