Issue of Equity

RNS Number : 0311D

React Energy PLC

21 October 2015

 



REACT Energy plc

("REACT" or the "Company")

Issue of Equity

Further to the announcement on 16 October 2015, REACT announces that the Company has today been notified by the Concert Party of the exercise of its rights under the Equity Kicker. Under the terms of the Equity Kicker set out in the Circular dated 22 September 2015, the Company will issue the maximum 7,000,000 Ordinary Shares to the Concert Party.

Following issue of the Ordinary Shares, the Concert Party will hold in total 7,204,545 Ordinary Shares, representing 9.59% of the enlarged issued share capital of the Company (as enlarged by the Equity Kicker).

The new Ordinary Shares, will be issued, fully paid and will rank pari passu in all respects with the existing ordinary shares of REACT. Application will be made for the new Ordinary Shares to be admitted to trading on AIM, with admission of the new Ordinary Shares expected to occur on or around 27 October 2015.

As a result of the issue of Ordinary Shares under the terms of the Equity Kicker, REACT's total issued and voting share capital will comprise 75,140,494 ordinary shares. Shareholders should use this figure 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 and Transparency Rules.

All capitalised terms are as defined in the Circular.

For further information:

REACT Energy plc	[phone]
Gerry Madden / Brendan Halpin
Shore Capital - Nomad & Broker	[phone]
Pascal Keane / Anita Ghanekar

About REACT:

REACT Energy plc is committed to operating clean electricity and heat generation plants in the UK and Ireland. The Company identifies, builds owns and operates plants and possesses significant knowledge of energy markets, clean technologies, fuel sources, project development, project finance and project delivery. REACT currently has four operational clean energy plants generating revenue from the sale of electricity and heat. The generation of clean electricity and heat from sustainable sources has the potential to address the key energy challenges of energy security and carbon commitment and provide strong returns on capital employed.

The company is listed on AIM and trades as REAC.www.reactenergyplc.com

 

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