RPL Renewable Power

 

TIDMRPL 
 
RNS Number : 3383B 
Renewable Power and Light Plc 
26 October 2009 
 
RENEWABLE POWER & LIGHT PLC 
 
 
 
 
DISPOSAL OF MASSENA POWER PLANT 
 
 
 
 
26 October 2009 
 
 
Renewable Power & Light plc (AIM: RPL) ("RPL" or "the Company"), today announces 
that, in conjunction with the previously announced signing of an agreement for 
the sale of the Elmwood Park and Massena power plants on 30 July 2009, it has 
now closed on the sale of the Massena power plant. The closing on the sale of 
the Elmwood Park power plant was previously announced on 16 September 2009.This 
now represents the disposal of the Company's power plants. 
 
 
Further to the Company's investing policy approved by shareholders on 19 August 
2009, now that the sale of both of the Company's power plants have completed, 
the Company intends to make a distribution of capital to shareholders prior to 
the end of 2009. The exact quantum and timing of the distribution is still to be 
determined by the board. The distribution will be subject to shareholder 
approval, including for the purposed of any compliance with Rule 21.1 of the 
Takeover Code. A circular will be sent to shareholders in due course to seek the 
requisite approvals. 
 
 
For further information, please contact: 
 
 
Renewable Power & Light plc Tim Hunstad  Telephone: +1 952 746 0393 
 
 
Grant Thornton Corporate FinanceGerald BeaneyTelephone: +44 0207 383 5100 
(Nominated Adviser) 
 
 
 
 
Dealing Disclosure Requirements 
 
 
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 
1% or more of any class of 'relevant securities' of RPL, all 'dealings' in any 
'relevant securities' of that company (including by means of an option in 
respect of, or a derivative referenced to, any such 'relevant securities') must 
be publicly disclosed by no later than 3.30pm (London time) on the London 
business day following the date of the relevant transaction. 
 
This requirement will continue until the date on which the offer becomes, or is 
declared, unconditional as to acceptances, lapses or is otherwise withdrawn or 
on which the 'offer period' otherwise ends. If two or more persons act together 
pursuant to an agreement or understanding, whether formal or informal, to 
acquire an 'interest' in 'relevant securities' of RPL, they will be deemed to be 
a single person for the purpose of Rule 8.3. Under the provisions of Rules 8.1 
of the Code, all 'dealings' in 'relevant securities' of RPL by a potential 
offeror, or RPL, or by any of their respective 'associates', must be disclosed 
by no later than 12.00 noon (London time) on the London business day following 
the date of the relevant transaction. 
A disclosure table, giving details of the companies in whose 'relevant 
securities' 'dealings' should be disclosed, and the number of such securities in 
issue, can be found on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk. 
'Interests in securities' arise, in summary, when a person has long economic 
exposure, whether conditional or absolute, to changes in the price of 
securities. In particular, a person will be treated as having an 'interest' by 
virtue of the ownership or control of securities, or by virtue of any option in 
respect of, or derivative referenced to, securities. 
Terms in quotation marks are defined in the Code, which can also be found on the 
Panel's website. If you are in any doubt as to whether or not you are required 
to disclose a 'dealing' under Rule 8, you should consult the Panel. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DISBIBDGBSDGGCS 
 

Renewable Power & Light (LSE:RPL)
Historical Stock Chart
From Jun 2024 to Jul 2024

Renewable Power & Light (LSE:RPL)
Historical Stock Chart
From Jul 2023 to Jul 2024