Holdings in Company and Lock-in Agreement

RNS Number : 7083F

RedT Energy PLC

23 February 2018

 

23 February 2018

This announcement contains inside information

redT energy plc

("redT" or the "Company")

Holdings in Company

and Lock-in Agreement

redT energy plc (AIM:RED) announces that it was notified today that Alchemy Projects Limited ("Alchemy") is now interested in a total of 63,872,819 ordinary shares in the capital of the Company, representing approximately 9.77% per cent of the Company's issued share capital.  Alchemy is wholly owned by the Company's former non-executive director John Ward.

Alongside this notification of interest, Alchemy and the Company have today signed a lock-in agreement (the "Agreement") in respect of Alchemy's holding of 63,872,819 ordinary shares (the "Locked-in Shares") under which Alchemy has undertaken not to dispose of any interest in the Locked-in Shares for a period of 12 months from the date of the Agreement.

Enquiries:

redT energy plc	[phone]
Scott McGregor, Chief Executive Officer
Joe Worthington, Investor & Media Relations
Cenkos Securities (Nominated Advisor & Broker)	[phone]
Derrick Lee
VSA Capital (Investor Relations Advisor) Andrew Monk	[phone]
Celicourt Communications (Financial PR) Mark Antelme Jimmy Lea Ollie Mills	[phone]

Notes to Editors

About redT energy

redT energy plc are experts in energy storage, specialising in the design, manufacture, installation and operation of energy storage systems which create revenue alongside reliable, low-cost renewable generation for businesses, industry and electricity distribution networks. Using patented vanadium redox flow technology to store energy in liquid, redT's own energy storage machines can be run continually with no degradation: charging and discharging for over 25 years, matching the lifespan of renewable assets in on-grid, off-grid and weak-grid settings.

redT's energy storage solutions, developed over the past 15 years, address today's changing energy market by providing a flexible platform for time shifting surplus renewable power, securing electricity supplies and earning revenue through grid services. The company has operating machines deployed with customers in the UK, Europe, sub-Saharan Africa, Australia and Asia Pacific. redT energy plc is listed on the London Stock Exchange (AIM:RED) and has offices in the UK, Africa and the USA. For more information, visit www.redTenergy.com

For sales, press or investor enquiries, please contact the redT team on [phone].

 

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