Luceco's £1.75 Million Investment Boosts eEnergy Group's Shares
Shares in eEnergy Group have seen an increase after LED lighting company Luceco announced its investment of £1.75 million ($2.2 million). In addition, eEnergy has entered into a period of exclusivity over the potential sale of one of its divisions.
At 0834 GMT, shares were up by 2.25 pence, or 56%, reaching 6.25 pence.
London-listed Luceco expressed excitement about supporting the growth of eEnergy and investigating opportunities for increased collaboration between the two companies.
Additionally, eEnergy revealed that it has entered into a period of exclusivity with an interested party looking to acquire its energy-management division. This division is valued at more than £30 million. Although discussions are at an advanced stage, there is currently no guarantee that they will result in a transaction, or what the final terms may be.
The board of eEnergy intends to reinvest the proceeds from any sale of the division to ensure that the company and its subsidiaries have the necessary financial resources to capitalize on the significant growth potential within its energy services division.
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