RedT Energy PLC Result of General Meeting (6497V)
April 09 2019 - 7:11AM
UK Regulatory
TIDMRED
RNS Number : 6497V
RedT Energy PLC
09 April 2019
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS INSIDE
INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION
596/2014
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS
RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR AUSTRALIA OR
ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL
9 April 2019
redT energy plc ("redT" or "the Company")
Result of General Meeting
redT energy plc (AIM:RED), the energy storage solutions company,
is pleased to announce that at the extraordinary general meeting of
the Company, held earlier today, the resolution proposed (the
"Resolution") was duly passed. It is expected that Admission of the
New Ordinary Shares to be issued pursuant to the Fundraising will
become effective at 8.00 a.m. on Wednesday, 10 April 2019.
In the announcement on 14 March 2019 the Company stated that "a
Fundraise of at least GBP1.5m proceeds (before expenses) from the
Placing and Open Offer should fund the business for at least the
next four to six months, depending on when divestment of the USA
business completes". The recent completion of the divestment of its
USA business and the GBP3.2m (before expenses) raised today should
now fund the business into December 2019 and enable the Strategic
Review process to be completed.
Capitalised terms used in this announcement shall have the same
meanings given to them in the Circular posted to Shareholders on 19
March 2019.
For further information, please contact:
redT Energy plc
Neil O'Brien, Executive Chairman
Fraser Welham, Chief Financial Officer
Joe Worthington, Investor & Media Relations +44 (0)20 7061 6233
VSA Capital Limited (Financial Adviser)
Andrew Raca / Simon Barton +44 (0)20 3005 5000
VSA Capital Limited (Broker)
Andrew Monk +44 (0)20 3005 5000
Investec Bank plc (Nominated Adviser
and Joint Broker)
Jeremy Ellis / Alexander Ruffman +44 (0)20 7597 4000
Celicourt Communications (Financial PR)
Mark Antelme / Jimmy Lea / Ollie Mills +44 (0)20 7520 9266
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in
the design, manufacture, installation and operation of energy
storage infrastructure which creates revenue alongside reliable,
low-cost renewable generation for businesses, industry and
electricity distribution networks. Using patented vanadium redox
flow technology to store energy in liquid, redT's own energy
storage machines can be run continually with no degradation:
charging and discharging for over 25 years, matching the lifespan
of renewable assets in on-grid, off-grid and weak-grid
settings.
redT's energy storage solutions, developed over the past 15
years, address today's changing energy market by providing a
flexible platform for time shifting surplus renewable power,
securing electricity supplies and earning revenue through grid
services. The company has customers in the UK, Europe, sub-Saharan
Africa, Australia and Asia Pacific. redT energy plc is listed on
the London Stock Exchange (AIM:RED) and has experts located in the
UK, Europe, Australia, Africa, Asia and the USA. For more
information, visit www.redTenergy.com
For sales, press or investor enquiries, please contact the redT
team on +44 (0)207 061 6233.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise.
The distribution of this announcement in jurisdictions outside
the United Kingdom may be restricted by law and therefore persons
into whose possession this announcement comes should inform
themselves about, and observe, such restrictions. Any failure to
comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction.
MAR
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No.596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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