Good Energy concludes second corporate bond issue

RNS Number : 2365H

Good Energy Group PLC

06 June 2017

 

6 June 2017

Good Energy successfully concludes second corporate bond issue

Good Energy Group PLC ("Good Energy" or the "Company"), the AIM-listed renewable energy supply and generation company, is pleased to announce that, as at 5:00pm on 5^th June 2017, it has received valid applications in excess of £10 million for its second corporate bond ("Good Energy Bonds II" or "Bonds II").

Good Energy has reached another important milestone in its 18-year history by exceeding its target of £10 million for Good Energy Bonds II, which received strong demand from new and existing investors and customers.

Good Energy Bonds II are part of a diversified funding strategy providing customers and investors with the opportunity to support a growing, socially responsible renewable energy company which is transforming the way the UK sources, uses and interacts with energy. The proceeds will help to fund Good Energy's next phase of growth and ability to continue innovating for a cleaner, greener and more prosperous world for future generations.

While the online application process closed on 5^th June 2017, Good Energy will continue to accept paper application forms if received via post by 12^th June 2017 up to the maximum over subscription amount of £20 million and will confirm the final amount raised as soon as practical thereafter.

Juliet Davenport, OBE, Founder and CEO of Good Energy commented:

"Good Energy has a long history of customer ownership and we are thrilled at the success of this latest offer which demonstrates the continued significant support Good Energy enjoys from its customers and investors.

Our strategy is clear - deliver sustainable, profitable growth by understanding and meeting our customers' needs. This aligns the interests of our investors and customers and ultimately our purpose of supplying 100% renewable and carbon neutral solutions to UK customers.

We will continue our good work, as we develop renewable energy projects and other corporate initiatives, to fuel the future growth of the Company."

This announcement contains information which, prior to its disclosure, was inside information for the purpose of the Market Abuse Regulation.

Capitalised terms have the same meaning as in the Invitation Document unless the context requires otherwise.

[ends]

Enquiries:
Good Energy Group PLC	[phone]
Juliet Davenport, Chief Executive Officer
Denise Cockrem, Chief Financial Officer
Smithfield Consultants	[phone]
Alex Simmons
Brett Jacobs
Arden Partners plc	[phone]
Steve Douglas
Patrick Caulfield
Investec Bank plc	[phone]
Jeremy Ellis
Sara Hale

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 founder member of the Social Stock Exchange, its 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, and has been voted the best energy company for customer service by users of MoneySavingExpert.com for three consecutive polls.

·      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, totalling over 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.

 

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