New Banking Facilities

RNS Number : 4036D

Good Energy Group PLC

29 April 2013

 



Good Energy Group PLC

29 April 2013

("Good Energy")

New Banking Facilities

The Board of Good Energy is pleased to announce that it has entered into a new Group Revolving Credit Facility of GBP 7.5 million (the "RCF") with its current bank, Lloyds TSB Bank plc (Lloyds Bank). The RCF, which has a three year term combined with the current overdraft facility gives the Group total facilities of £10.5m in place with Lloyds Bank.

Commenting, Garry Peagam, Group Finance Director said:

"I am very pleased that we have concluded discussions with Lloyds Bank regarding this new facility. Lloyds Bank has recognised that while Good Energy has matured as a profitable business, funding flexibility is required from time to time particularly in respect of some of the long lead items required for our portfolio of Wind and Solar development projects in the United Kingdom. We look forward to continuing to work with them."

For further information, please contact:

Good Energy Group plc

Juliet Davenport, Chief Executive     01249 766795

Garry Peagam,  Group Finance Director

N+1 Singer (Nominated Adviser & Broker)

Andrew Craig, Ben Wright                020 7496 3000

Kreab Gavin Anderson (Financial  PR)

Tom Poston, Anna Schoeffler            020 7074 1800

 

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