Good Energy Group raises funds

Monday, 5th August 2013

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The fund raising follows an announcement earlier this month about the Chippenham-based company raising about £1.8m through a proposed placing.

This means that the company has raised a total of £2.68m to help fund its development of new renewable energy projects.

The open offer closed for acceptances yesterday (Monday) and resulted in subscriptions being received for a total of 705,247 shares – representing 42 per cent of the maximum number of shares available under the open offer.

The placing and open offer remains conditional upon resolutions being passed by Good Energy Group’s shareholders at a meeting today (Tuesday).

Juliet Davenport, Good Energy chief executive and founder, said: “The open offer was not only an opportunity to raise new money for our development plans, but the chance to provide our existing shareholders, many of whom are our customers, with a new opportunity to access new shares at the same price as the other institutional investors.

“These funds will play an important role in taking forward our generation asset development plans, which will provide the company with access to new sources of renewable power for the foreseeable future.”

The new shares are set to begin trading on 31 July.

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