Esken Limited Response to press speculation (7842R)
October 31 2023 - 3:00AM
UK Regulatory
TIDMESKN
RNS Number : 7842R
Esken Limited
31 October 2023
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018.
31 October 2023
ESKEN LIMITED
('Esken' or 'the Group')
Response to press speculation
Esken Limited, the aviation and energy infrastructure group,
notes the recent press speculation regarding Esken Renewables.
The Group confirms that in accordance with the previously
announced strategic review of its operating businesses, it is in
advanced discussions with Pioneer Point Partners regarding a
possible disposal of the entire issued share capital of Esken
Renewables.
Should the Group complete the disposal of Esken Renewables, the
net proceeds would be used to: repay the committed funding drawn
under the Group's facilities agreement with the specialty lender
and associated costs; further contribute to the Group's defined
benefit pension scheme; and provide additional working capital in
the short term.
Discussions are ongoing and there can be no certainty that any
transaction will be agreed or, if so, on what terms.
A further announcement will be made shortly.
This announcement contains inside information. The person
responsible for arranging this announcement on behalf of Esken is
Adam Davidson, General Counsel and Company Secretary.
Enquiries:
Esken Limited C/o Teneo
Teneo
Olivia Peters / Giles Kernick T: +44 (0)20 7353 4200
E: esken@teneo.com
TB Cardew, PR Advisers to Pioneer Point Partners
Tom Allison T: +44 (0) 7789 998 020
Henry Crane T: +44 (0) 7918 207157
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END
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