Drax Group PLC Satisfied conditions for proposed acquisition (6420U)
April 07 2021 - 1:11AM
UK Regulatory
TIDMDRX
RNS Number : 6420U
Drax Group PLC
07 April 2021
7 April 2021
Drax Group plc
("Drax", the "Group" or the "Company"; Symbol: DRX)
Satisfaction / waiver of conditions in relation to the proposed
acquisition of Pinnacle Renewable Energy Inc.
On 8 February 2021, Drax announced that it had entered into an
agreement to acquire the entire issued share capital of Pinnacle
Renewable Energy Inc. (the "Acquisition"). On 31 March 2021, Drax
announced that the Acquisition had been approved by Drax
Shareholders at the General Meeting and Pinnacle announced that the
Acquisition had been approved by Pinnacle Shareholders.
Drax is pleased to announce that on 6 April 2021 the Supreme
Court of British Columbia granted the Final Order. All of the
conditions to the Completion of the Acquisition have now been
satisfied or waived (other than conditions which can only be
satisfied at Completion) and Completion is expected to occur on 13
April 2021.
Capitalised terms used but not defined in this announcement have
the meanings given to them in the Circular.
Enquiries:
Drax Investor Relations: Mark Strafford
+44 (0) 7730 763 949
Media:
Drax External Communications: Ali Lewis
+44 (0) 7712 670 888
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