Result of Placing

RNS Number : 1231U

VH Global Sustainable Energy Oppt.

01 December 2021

 

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The information communicated in this Announcement is deemed to constitute inside information as stipulated under the UK version of the Market Abuse Regulations (EU) No. 596/2014 as it forms part of the law of England and Wales by virtue of the European Union (Withdrawal) Act 2018, as amended ("EUWA"), as further amended by UK legislation from time to time. Upon the publication of this Announcement, this information is considered to be in the public domain.

1 December 2021

VH Global Sustainable Energy Opportunities plc

Result of Placing

The Board of VH Global Sustainable Energy Opportunities plc ("GSEO" or the "Company")  is pleased to announce that the Company has raised a further £70 million pursuant to the placing (the "Placing") announced on 8 November 2021 (the "Placing Announcement"). Accordingly, the Company will issue a total of 68,965,518 New Ordinary Shares at the placing price of 101.5 pence per New Ordinary Share.

GSEO intends to use the net proceeds of the Placing to invest in its enhanced pipeline of assets which are high quality and diversified by geography and technology.

Bernie Bulkin, Chair of the Company, commented:

"Taking the £70 million that has been committed as part of the Placing means that we have successfully raised over £312 million since the Company was launched in February this year. The capital raised, coupled with the strong pipeline of opportunities that we have already identified, should allow us to maintain our strong investment momentum into 2022.

I would like to thank our existing investors for their continuing support and welcome those new investors to our shareholder register.

As economies around the world reassess their approaches towards a net-zero carbon future following COP26, the Company is both well positioned, and well capitalised, to continue its leadership role, driving the energy transition while making a positive impact on the environment and the local communities in which we invest."

Further details

Applications have been made to the Financial Conduct Authority for admission of 68,965,518 New Ordinary Shares to the premium segment of the Official List of the Financial Conduct Authority and to the London Stock Exchange for admission to trading of the New Ordinary Shares on its main market for listed securities ("Admission").  It is expected that Admission will become effective at or around 8.00 a.m. on 3 December 2021 and that unconditional dealings in the New Ordinary Shares will commence at that time.

The New Ordinary Shares will, when issued, be credited as fully paid and rank pari passu with the existing Ordinary Shares in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid. For the avoidance of doubt, any New Ordinary Shares issued pursuant to the Placing will not be entitled to the interim dividend announced on 1 November 2021 payable to shareholders on the register of the Company as at 12 November 2021.

Immediately following Admission, the Company's issued share capital will consist of 311,589,799 Ordinary Shares with voting rights. This figure may be used by shareholders in determining the denominator for the calculation by which they will establish if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Directors' participation in the Placing

The Directors participated in the Placing and acquired 205,000 New Ordinary Shares. Following Admission, the Directors will hold 240,000 Ordinary Shares, representing 0.1% of the Company's Ordinary Shares in issue.

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Placing Announcement, which can be found on GSEO's webpage:  https://www.vh-gseo.com/ .

For further information please contact:

Edelman Smithfield (PR Adviser) Ged Brumby / Andrew McLagan Tel: + 44 (0)7540 412 301 / [phone] Victory Hill Capital Advisors LLP (Investment Adviser) Navin Chauhan [e-mail] Numis (Sponsor and Bookrunner) Sales - Tod Davis Corporate - David Benda / Matt Goss Tel: [phone] G10 Capital Limited (AIFM) Mohammed Rahman / Paul Cowland Tel: + 44 (0)20 7397 5450 Apex Fund and Corporate Services (UK) Limited (Company Secretary) Anthony Lee Tel: [phone]

 

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