Kedco PLC Result of EGM (0603O)

TIDMKED

RNS Number : 0603O

Kedco PLC

05 October 2012

 
 Press release   5 October 2012

Kedco plc

("Kedco" or the "Company")

Result of Extraordinary General Meeting

Kedco plc (AIM:KED) ("Kedco" or the "Company"). the renewable energy group focusing on the production of clean energy in the UK and Ireland, announces that at an extraordinary general meeting (the "EGM") held earlier today, Resolutions 1 to 3 set out in the notice of meeting, as included in the circular to shareholders dated 10 September 2012 (the "Circular"), were duly passed. The resolutions provided the necessary authorities for the Company to execute the Restructuring, Fundraising and Acquisition.

Following the receipt of feedback from certain investors, the Directors decided not to proceed with the proposed consolidation of the Company's Ordinary Shares. Accordingly, the Directors sought and received consent at the EGM to withdraw Resolution 4 relating to the consolidation. As a result, Kedco's Ordinary Shares will remain as ordinary shares of EUR0.01 each and the ISIN number will remain as IE00B3DKXJ73.

The Company is currently in the process of finalising the Fundraising, Restructuring and Acquisition as set out in the Circular. The Restructuring and Acquisition remain conditional, inter alia, upon the Fundraising occurring and the Directors anticipate providing a further update shortly.

Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meaning ascribed to them in the Circular.

- Ends -

Enquiries:

 
                                     +353 (0)21 483 
Kedco plc                             9104 
Gerry Madden, CEO 
                                     +44 (0)20 7936 
Deloitte Corporate Finance - Nomad    3000 
Byron Griffin / David Smith 
                                     +44 (0)20 7638 
SVS Securities plc - Broker           5600 
Ian Callaway / Alex Mattey 
                                     +44 (0)20 7398 
Abchurch Communications               7707 
Joanne Shears / Shabnam Bashir

Further information on Kedco plc

Kedco plc's business strategy is to identify, develop, build, own and operate renewable energy electricity and heat generation plants in the UK and Ireland. These plants will contribute to the need for sustainable energy from renewable sources.

The Company possesses significant knowledge of renewable energy markets, clean technologies, biomass and waste fuel sources, project development, project finance and project delivery.

Kedco has a strong pipeline of additional plants at varying stages of development, including a site in North London with full Planning and Environmental Permission for the conversion of 60,000 tonnes of waste timber per annum into up to 12MW of electricity and heat. The Company is also currently engaged in the planning process for proposed biomass projects in Rutland, East Anglia and Clay Cross, Derbyshire.

Kedco was admitted to trading on AIM, a market operated by the London Stock Exchange, in October 2008.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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