AEA admits shares are worthless

Climate-change technology firm AEA yesterday warned its shareholders that they would be left with “little or no value”, after it failed to find a long-term solution to its debt problems. The firm, which is based in Oxfordshire, said it is looking at all “strategic options to realise value” but said an offer for its shares – which plunged 82 per cent yesterday – is unlikely. The firm has £34.3m in net debt, exacerbated by a further £165.5m in pension liabilities. Its shares are currently trading at just 4p.