Renewable Energy Generation Ltd Potential ZDP Shares (9631G)
March 10 2015 - 3:03AM
UK Regulatory
TIDMWIND
RNS Number : 9631G
Renewable Energy Generation Ltd
10 March 2015
10 March 2015
Renewable Energy Generation Limited
Potential Zero Dividend Preference Share Issue
The Board of Renewable Energy Generation Limited ("REG" or the
"Company") is actively considering an issue of Zero Dividend
Preference shares ("ZDP Shares") as a financing option to augment
its existing cash resources, which are in excess of GBP20 million,
along with current non-recourse project financing from the banking
sector.
The purpose of the new finance will be to expedite construction
of projects within its wind development portfolio in order that
they can be delivered under the Renewables Obligation regime.
If the Board determines to proceed with the issue of ZDP Shares
it will not aim to raise more than GBP30 million, with the terms of
the ZDP Shares being consistent with current market parameters. The
intention of the issue will be to deliver enhanced returns for
ordinary shareholders.
A further update will be provided in due course, after
discussions with shareholders and investors. A decision to issue
the ZDP Shares would be subject to the approval of existing
ordinary shareholders in a general meeting.
Enquiries:
Renewable Energy Generation
Limited
Andrew Whalley, Chief Executive
Officer
David Crockford, Finance Director
Ian Lawrence, Communications +44 (0)1483 901
Manager 796
Cenkos (Placing Agent and Financial
Adviser)
Will Rogers
Sapna Shah +44 (0)20 7397
Bobbie Hilliam 8900
Smith & Williamson Corporate
Finance Limited
(Nominated Adviser) +44 (0)117 376
Martyn Fraser 2213
Notes to editors
Renewable Energy Generation Ltd (REG) is an AIM listed renewable
energy group. Its main business is the development, construction
and operation of wind farms and generating power from refined used
cooking oil.
REG Windpower: based in Truro, Bath and Guildford, UK, it
currently operates 11 wind projects in Cambridgeshire, Cornwall,
County Durham, Yorkshire, Lancashire, Cumbria and Gwynedd, with a
total capacity of 34.7MW as well as 3 projects on behalf of its
partner BlackRock totalling 28MW. REG has around 200MW of projects
in the planning system awaiting consent.
REG Bio-Power UK Ltd: based in Nottingham, UK: it operates 26MW
of electricity generation plant powered by fuel recovered from used
cooking oil.
Headquartered in Jersey, REG was admitted to trading on AIM, a
market operated by the London Stock Exchange, in May 2005 (AIM:
WIND).
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCJLMPTMBTMBAA
Renewable Eng. (LSE:WIND)
Historical Stock Chart
From Jun 2024 to Jul 2024
Renewable Eng. (LSE:WIND)
Historical Stock Chart
From Jul 2023 to Jul 2024