Business of General Meeting Cancelled

RNS Number : 9247O

Good Energy Group PLC

24 August 2017

 

 Good Energy Group PLC

("Good Energy" or the "Company")

Business of General Meeting Cancelled

The Board of Good Energy announces that following notification from Ecotricity Group Limited ("Ecotricity"), Good Energy and Ecotricity have agreed not to proceed with the requisitioned general meeting of the Company's shareholders ("General Meeting") regarding the proposed appointment of Dale Vince and Simon Crowfoot as non-executive directors of Good Energy. Ecotricity has therefore withdrawn its notice under section 303 of the Companies Act 2006 requisitioning the General Meeting.

The Board therefore recommends the indefinite adjournment of the General Meeting scheduled for 3pm on Wednesday 6 September 2017. Ecotricity has confirmed its support for that recommendation. Accordingly, the General Meeting will not proceed to any of the formal business set out in the Notice of Meeting and will be indefinitely adjourned.

Shareholders are advised that there is no requirement to attend the meeting to approve the indefinite adjournment. Shareholders who have already submitted a proxy vote need take no further action. Shareholders who have not yet submitted a proxy vote no longer need to do so.

Chairman of Good Energy, John Maltby said:

"We seek a constructive dialogue with Ecotricity, as we do with all of our shareholders, and see this as a positive step. We hope very much that we can put this matter behind us and would like to thank our customers, shareholders, and other stakeholders for their support."

Enquiries:
Good Energy Group PLC	[phone]
Juliet Davenport, Chief Executive Officer
Denise Cockrem, Chief Financial Officer
Stephen Rosser, Company Secretary
Investec Bank plc	[phone]
Jeremy Ellis
Sara Hale
Smithfield Consultants	[phone]
Alex Simmons

Notes to editors:

·      Good Energy is a fast-growing green energy company, generating and selling 100% renewable electricity and green gas to households and businesses across the UK.

·      An AIM-listed PLC, and founding member of the Social Stock Exchange, Good Energy's purpose is to support change in the energy market, address climate change and boost energy security.

·      The Company has been awarded 4 out of 5 stars by Which? for customer service in 2016 and 2017 (no energy supplier was awarded 5 stars), and has been awarded a Best Buy by Ethical Consumer magazine.

·      As at 31 December 2016, Good Energy had over 71,400 renewable electricity customers and 44,100 carbon neutral gas customers. It also provides Feed-in Tariff administration services to over 133,000 sites, bringing the total number of customers to 248,500.

·      Good Energy is the owner of Delabole Wind Farm, the UK's first commercial onshore wind farm and owns and operates Hampole Wind Farm, near Doncaster. The Company also owns and operates seven solar farms

·      Good Energy received an average customer advocacy of 45. A net promoter score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or services to others. It is used as a proxy for gauging the customer's overall satisfaction with a company's product or service and the customer's loyalty to the brand.

·      Good Energy has won a number of awards, including Renewable Energy Association Company of the Year Award 2016, Business Green Company of the Year 2015, and was named Social Impact Company of the Year at the 2014 and 2015 Small Cap awards.

 

END

 

 

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