Good Energy seeks more customer-ownership through share offer
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This communication, which is a financial promotion for the purposes of Section 21 of FSMA, is issued by the Company which accepts responsibility for the information contained herein. This document has been approved as a financial promotion for UK publication by Arden Partners plc of 125 Old Broad Street, London EC2N 1AR, which is authorised and regulated by the FCA to conduct investment business. Arden Partners plc is registered on the FCA’s Register with registered number 214032.
If you are in any doubt about the contents of this email and/or the action you should take, you should immediately consult your stockbroker, bank manager, solicitor, accountant or other independent financial adviser duly authorized under the Financial Services and Markets Act 2000 (as amended) (“FSMA”) if you are in the United Kingdom or, if not, another appropriately authorized independent financial adviser. While the Share Offer is being targeted at Stakeholders, the Company will also welcome applications from other interested persons
- Renewable energy supplier Good Energy plans fivefold customer (household equivalent) growth by 2020
- £3.1m to be raised through issue of 1,495,900 New Ordinary Shares at the price of 208p per share
- Share Offer to target customers to invest alongside institutions
- Good Energy to build on strong profitable growth and continue providing excellent customer service
Renewable energy supplier Good Energy wants to involve more customers in ownership of the Company through its latest share offer.
The Company’s first wind farm in Delabole, Cornwall was bought with customer investment in 2002 and its first Bond Offer to customers, in 2013, closed three weeks ahead of schedule having reached the maximum subscription amount of £15m.
Today’s share offer gives customers the option to support the Company’s mission to transform the UK energy market for the better.
Juliet Davenport, OBE, Founder and CEO of Good Energy said:
“Our customer numbers, renewable energy generation and revenues are all growing fast. We believe our customers are at the heart of our business and should have the option to share in the success of Good Energy. This new Share Offer gives them the chance, alongside our institutional investors, to be part of the next stage of our growth journey and our exciting plans for the future.”
Good Energy’s share offer will raise up to £3.1m to:
- Improve customer experience through a new operational platform
- Invest in new systems to deduce cost to serve and customer acquisition costs
- Develop existing and new renewable energy generation sites to maximize value
- Strengthen Good Energy’s financial position and future profitability
Share Offer period closes at 11.59 pm on 19th June 2016.
For more information on the Share Offer, please see www.computershare.com
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