Kedco PLC Reclassification of FTSE ICB (6088Z)

TIDMKED

RNS Number : 6088Z

Kedco PLC

11 March 2013

 
Press release  11 March 2013

Kedco plc

("Kedco" or the "Company")

Reclassification of FTSE Industry Classification Benchmark ("ICB")

Kedco plc, (AIM:KED) the renewable energy group focusing on the production of clean energy in the UK and Ireland, is pleased to announce that following the successful completion of the restructuring and non-core asset disposal in December 2012, the FTSE industry classification of the Company has been reclassified as Electricity; sub-sector Alternative Electricity. The Company was formerly classified under the Construction and Materials sector.

The implementation date on the London Stock Exchange is 15 March 2013 with an effective date of 18 March 2013.

Gerry Madden CEO of Kedco plc said:

"The reclassification of the Company's sector on the London Stock Exchange is an important recognition of the refocusing of the Company's business model over the last twelve months to becoming a pure renewable energy development and operating Company.

"The change in classification should also help the Company in attracting interest from analysts and investors who specifically follow the Alternative Energy sub-sector. The Board believes that the Company has a unique offering as a technology-neutral renewable energy operating and development business and the change in classification reflects this view when a comparison is made with the strategies of the Company's peer group in the sub-sector."

- Ends -

For further information:

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

About Kedco plc

Kedco Group is a renewable energy portfolio developer and operator whose business strategy is to identify, develop, build, own and operate renewable energy electricity and heat generation plants in the UK and Ireland.

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

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

www.kedco.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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