Greencoat UK Wind PLC Result of Capital Raise (5188P)
November 18 2016 - 1:01AM
UK Regulatory
TIDMUKW
RNS Number : 5188P
Greencoat UK Wind PLC
18 November 2016
Result of Capital Raise
Greencoat UK Wind plc (the "Company" or "UKW"), the leading
listed renewable infrastructure fund, invested in operating UK wind
farms, today announces the result of the Second Issue of the Share
Issuance Programme as announced on 25 October.
Highlights
-- Gross Issue Proceeds of GBP147 million
-- 133,636,364 New Ordinary Shares, at an issue price of 110
pence per share, will be issued, increasing total Ordinary Shares
to 736,700,850
Commenting on the announcement, Tim Ingram, Chairman of UKW,
said: "We are delighted to announce a heavily oversubscribed
capital raise, highlighting the strong support of both existing and
new shareholders. The proceeds will be used to pay down the
Company's short term acquisition facility in full, enabling
Greencoat UK Wind to pursue a pipeline of attractive investment
opportunities. The Company's long term borrowings will remain in
place."
Following the receipt of Net Issue Proceeds and subsequent full
repayment of borrowings under its Revolving Facility Agreement, UKW
will have outstanding borrowings of GBP100 million under its Long
Term Facility Agreement, equivalent to c.11% of Gross Asset
Value.
Application will be made for the 133,636,364 New Ordinary Shares
to be admitted to the Official List of the UK Listing Authority and
to trading on the London Stock Exchange's main market for listed
securities with effect from 8.00 a.m. on 22 November 2016.
Definitions used in the Prospectus apply to this announcement
unless the context requires otherwise.
For further information, please contact:
Greencoat UK Wind 020 7832 9425
Stephen Lilley
Laurence Fumagalli
Tom Rayner
RBC Capital Markets (Sponsor
and Bookrunner) 020 7653 4000
Darrell Uden
Duncan Smith
Matthew Coakes
Kepler Partners (Placing Agent)
Hugh van Cutsem 020 3384 8796
Tulchan Communications 020 7353 4200
Stephen Malthouse
This information is provided by RNS
The company news service from the London Stock Exchange
END
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