Update on the requisition of a General Meeting

RNS Number : 4600M

Good Energy Group PLC

28 July 2017

 

 Good Energy Group PLC

("Good Energy" or the "Company")

Update on the requisition of a General Meeting

Further to the announcement by Good Energy on 10 July 2017, stating that the Company had received a notice pursuant to section 303 of the Companies Act 2006 from Ferlim Nominees Limited, acting on behalf of Ecotricity Group Limited ("Ecotricity"), requisitioning a general meeting of the Company's shareholders ("General Meeting"), Good Energy and Ecotricity have agreed to a short deferral of the General Meeting.

The General Meeting was requested by Ecotricity to propose the appointment of Dale Vince, the founder, sole shareholder and Chief Executive Officer of Ecotricity, and Simon Crowfoot, Managing Director of Ecotricity's Electric Highway division, as non-executive directors of Good Energy.

The Good Energy Board still believes that the appointment of any nominee remunerated by Ecotricity would be a conflict of interest and that they could not act independently on behalf, and in the best interests, of our shareholders as a whole.

Further announcements will be made in due course.

Enquiries:
Good Energy Group PLC	[phone]
Juliet Davenport, Chief Executive Officer
Denise Cockrem, Chief Financial Officer
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 power the choice of a cleaner, greener, future together.

·      The Company has been awarded 4 out of 5 stars by Which? for customer service in 2016 and 2017, and has been awarded 'Best Buy' status by Ethical Consumer.

·      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.

 

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