Result of Placing

RNS Number : 4149I

eEnergy Group PLC

11 December 2020

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF EENERGY GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

THE SECURITIES TO WHICH THIS ANNOUNCEMENT RELATE HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM, OR A TRANSACTION NOT SUBJECT TO, REGISTRATION UNDER THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION ("MAR"). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

11 December 2020

eEnergy Group plc

("eEnergy", "Company" or "the Group")

Result of Placing

The Board of eEnergy Group plc (AIM: EAAS), a leading "Energy Efficiency-as-a-Service" (EEaaS) business in the UK and Ireland, is pleased to confirm that, further to this morning's announcement, the bookbuilding process has now closed (the "Placing") and the Company has raised gross proceeds of £3.2 million through the Placing of 32,000,000 new ordinary shares of 0.3 pence each (the "Placing Shares") at a price of 10.0 pence per share (the "Placing Price"). The Placing Price represents a discount of 3.8 per cent. to the closing mid-market price of 10.4 pence on 10 December 2020. 

The net proceeds of the Placing will be used to part fund the acquisition of Beond Group Limited (including surplus cash acquired in the business) and for general working capital.

A further 64,948,456 ordinary shares will be issued alongside the Placing Shares (the "Consideration Shares") as part of the total consideration.

Application has been made to the London Stock Exchange for 63,771,130 of the Consideration Shares and all of the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place at 8.00 a.m. on Tuesday 15 December 2020 (or such date as may be agreed between the Company and the Joint Bookrunners). The Placing is conditional, inter alia, upon Admission becoming effective.

It is expected that, following the exercise of the compulsory purchase procedure referred to this morning's announcement, the balance of the 1,177,326 Consideration Shares will be admitted to trading on AIM on or about 29 December 2020.

The Placing Shares and Consideration Shares, once issued, will together represent approximately 40.2 per cent. of the enlarged share capital of the Company. The Placing Shares and Consideration Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid after the date of issue of the Placing Shares.

Total Voting Rights

Following Admission of the Placing Shares and 63,771,130 Consideration Shares, the total number of shares of the Company in issue will be 240,030,630 and the total number of voting shares in the Company will be 240,030,630.

The above figure of 240,030,630 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Contacts:

eEnergy Group plc	Tel: [phone]
Harvey Sinclair, Chief Executive Officer	[e-mail] ; www.eenergyplc.com
N+1 Singer (Nominated Adviser and Joint Bookrunner)	Tel: [phone]
Justin McKeegan, Mark Taylor, Carlo Spingardi (Corporate Finance) Tom Salvesen (Corporate Broking)
Turner Pope Investments (Joint Bookrunner)	Tel: [phone]
Andy Thacker	[e-mail]
Newgate Communications	Tel: [phone]
Robin Tozer Isabelle Smurfit	[e-mail]

 

END

 

 

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