Dukemount Capital PLC Update Re Funding
August 10 2021 - 04:03AM
RNS Non-Regulatory
TIDMDKE
Dukemount Capital PLC
10 August 2021
Dukemount Capital Plc
10 August 2021
Dukemount Capital Plc
("Dukemount" or the "Company")
Update Re 11kv Flexible Energy Project Funding
Dukemount Capital Plc, the property management and long dated
income specialist is in advanced stages of talks with financial
instutions with regards to the funding it is looking to raise for
the gas peaking projects first announced via its JV with HSKB in
March 2021.
As announced previously, the projects will require funding of
approximately GBP6.25 million and the terms that have been offered
since the recent GM have been significantly better than those
previously offered or available prior to the previous funding
announcement. The company is still committed to delivering these
projects into the construction phase and also demonstrating that
there is a route to progressing further projects into this
portfolio from the HSKB pipeline.
Executive Chairman Geoffrey Dart commented:
"Since the conclusive result of the General Meeting in July, we
have been approached by a number of institutions offering
alternative and more competative funding options and we are in
advanced stages of talks with two of them. We look forward to
updating shareholders and the market when we have agreed terms with
our preferred institution.
A report last month from the Energy Networks Association
entitled 'Britain breaks network flexibility record with 45% more
contracted than all of 2020', should give shareholders further
encouragement that we are in the right sector at the right
time."
Market Abuse Regulation (MAR) disclosure
Certain statements in this announcement contain inside
information for the purpose of Article 7 of EU Regulation
596/2014.
For further information, please visit
www.dukemountcapitalplc.com or contact:
Media Enquiries Zak Mir: +44 (0)7867
527 659
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END
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