Result of General Meeting and Directors' Interests

RNS Number : 5021K

Good Energy Group PLC

30 July 2013

 



30 July 2013

Good Energy Group PLC

(The "Company")

Result of General Meeting and Directors' Interests

Good Energy Group plc is pleased to announce that at the General Meeting of the Company held earlier today, all resolutions were duly passed.

Accordingly, the conditional Placing and Open Offer, first announced on 11 July 2013, are now unconditional in all respects save for the admission to trading on AIM of the 2,145,247 Placing Shares and Offer Shares.

Application has been made to AIM for the admission of the Placing Shares and the ordinary shares to be issued pursuant to the Open Offer. It is expected that Admission will become effective on 31 July 2013 and that dealings will commence at 8.00 a.m. on 31 July 2013.

Following Admission, the Group will have 14,667,896 ordinary shares, with one voting right each, in issue. The Group does not hold any shares in treasury. Accordingly, the figure of 14,667,896 ordinary shares may be used by shareholders in the Group 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 share capital of the Group under the FCA's Disclosure and Transparency Rules.

John Maltby, Chairman, comments:

"The Directors' uptake of shares is an endorsement of the Company's plans for the future. The Board looks forward to continuing to execute the development of our business and to continue to find new and innovative ways to bring the supply of 100% renewable electricity to more people."   

Directors' Interests, Grant of Share Options and Exercise of Share Option  

Following Admission, the Directors' interest in the ordinary shares of the Company will be as follows:

	Shareholding prior to the Placing and Open Offer	% of issued share capital held prior to the Placing and Open Offer	Total uptake under the Open Offer	Number of Placing Shares subscribed for	Shareholding following Admission	% of issued share capital held following Admission	Number of options held over Ordinary Shares
John Maltby	Nil	Nil	Nil	120,000	120,000	0.82	Nil
Juliet Davenport	393,662	3.14	43,200*	Nil	450,194*	3.07	590,014**
Garry Peagam	36,000	0.28	Nil	Nil	36,000	0.25	416,000***
Richard Squires	28,000	0.22	8,000	Nil	36,000	0.25	75,000
Martin Edwards	810,277	6.47	Nil	Nil	810,277	5.52	Nil
Francesca Ecsery	Nil	Nil	Nil	2,400	2,400	0.02	Nil

*N.B.    40,000 of the shares notified as taken up under the Open Offer are held by Juliet Davenport's husband. The shareholding following Admission is after taking into account the share option exercise referred to below.

**N.B.   After taking into account the share option exercise and grant referred to below.

***N.B.  After taking into account the share option grant referred to below.

On 30 July 2013, Juliet Davenport, Chief Executive of the Company, exercised a share option to the extent of 13,332 ordinary shares of the Company.  The share option was issued on 1 May 2002 and the exercise price applicable was 50 pence per ordinary share.

On 30 July 2013, the following share options were granted:

1.         to Juliet Davenport, Chief Executive of the Company, a share option in respect of 144,000 ordinary shares of the Company exercisable between 9 April 2016 and 8 April 2023 inclusive at an exercise price of 125 pence per ordinary share; and

2.         to Garry Peagam, Group Finance Director of the Company, a share option in respect of 116,000 ordinary shares of the Company exercisable between 9 April 2016 and 8 April 2023 inclusive at an exercise price of 125 pence per ordinary share.

This announcement should be read in conjunction with the full text of the circular posted to Shareholders on 11 July 2013, copies of which are available on the Company's website at www.goodenergygroup.co.uk. Unless stated otherwise, capitalised terms in this announcement have the same meaning as given in the circular.

Enquiries:

Good Energy Group plc Juliet Davenport, Chief Executive Garry Peagam, Finance Director	Tel. [phone]
N+1 Singer (Nominated Adviser and Broker) Andrew Craig / Ben Wright	Tel: [phone]

Notes to editors

·      Good Energy Group plc is listed on the AIM market of the London Stock Exchange. For more information please visit: www.goodenergygroup.co.uk 

·      Good Energy is a licensed electricity supplier. It ensures that all their electricity is 100% matched with electricity sourced from renewable energy, backed by Renewable Energy Guarantee of Origin certificates (REGOs) over the course of 12 months. To compare the fuel mix of other suppliers please visit: www.electricityinfo.org/suppliers.php 

·      Good Energy has over 34,000 renewable electricity customers. In 2008, Good Energy added a Gas product to its range. It now has over 10,500 gas customers.

·      Good Energy works with a community of over 52,000 small and medium scale renewable electricity generators.

·      Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm. It has targeted the development of 110MW of capacity of new renewable electricity generation assets by 2016.

·      Good Energy is a founder member of Ethex and the Social Stock Exchange.

·      Good Energy has recently won a number of awards and accolades, including:

o  Good Energy has come top in the latest Which? Customer Satisfaction Survey for energy suppliers in 3 of the last 4 years.

o  Good Energy won the Company of the Year Award in the British Renewable Energy Awards 2013

o  In 2013, Good Energy was named as the best green electricity supplier by the UK's leading ethical and environmental magazine, Ethical Consumer.

 

END

 

 

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