eEnergy: Results of Placing
Result of Placing
The Board of eEnergy Group plc (AIM: EAAS), a leading “Energy Efficiency-as-a-Service” (EEaaS) business in the UK and Ireland, is pleased to confirm that, further to this morning’s announcement, the bookbuilding process has now closed (the “Placing”) and the Company has raised gross proceeds of £3.2 million through the Placing of 32,000,000 new ordinary shares of 0.3 pence each (the “Placing Shares”) at a price of 10.0 pence per share (the “Placing Price”). The Placing Price represents a discount of 3.8 per cent. to the closing mid-market price of 10.4 pence on 10 December 2020.
The net proceeds of the Placing will be used to part fund the acquisition of Beond Group Limited (including surplus cash acquired in the business) and for general working capital.
A further 64,948,456 ordinary shares will be issued alongside the Placing Shares (the “Consideration Shares”) as part of the total consideration.
Application has been made to the London Stock Exchange for 63,771,130 of the Consideration Shares and all of the Placing Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will take place at 8.00 a.m. on Tuesday 15 December 2020 (or such date as may be agreed between the Company and the Joint Bookrunners). The Placing is conditional, inter alia, upon Admission becoming effective.
It is expected that, following the exercise of the compulsory purchase procedure referred to this morning’s announcement, the balance of the 1,177,326 Consideration Shares will be admitted to trading on AIM on or about 29 December 2020.
The Placing Shares and Consideration Shares, once issued, will together represent approximately 40.2 per cent. of the enlarged share capital of the Company. The Placing Shares and Consideration 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 after the date of issue of the Placing Shares.
Total Voting Rights
Following Admission of the Placing Shares and 63,771,130 Consideration Shares, the total number of shares of the Company in issue will be 240,030,630 and the total number of voting shares in the Company will be 240,030,630.
The above figure of 240,030,630 may be used by shareholders 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 Company under the FCA’s Disclosure Guidance and Transparency Rules.
