Good Energy Group plc (“Good Energy”) and its trading subsidiaries, (together “the Group”), are a vertically integrated utility, supplying 100 per cent renewable electricity to approximately 35,000 domestic and commercial customers, gas to approximately 12,000 domestic customers and supports a growing community of approximately 55,000 independent green power generators across the UK.
The Group also has a renewable energy generation business which includes a 9.2MW operational wind farm in Cornwall, and a proposed 4.6MW wind farm in Aberdeenshire, currently in planning.
Announcing admission to AIM
Good Energy Group PLC, owner of Good Energy Limited, 100% renewable electricity supplier, is pleased to announce its admission to trading on AIM.
Further to the Company’s announcement on 25 July 2012 and following admission to AIM, the Company has raised £4 million before expenses by way of a placing of 4,705,882 new Ordinary Shares at 85 pence per Ordinary Share, which based on the placing price gave it a market capitalisation of £10.6 million on admission. The Placing was conducted by N+1 Brewin, the Company’s Nominated Adviser and Broker.
Dealings in the Company’s Ordinary Shares of 5 pence each commenced at 8 a.m. on 30th July 2012, under the ticker symbol “GOOD”. Following admission the Company will have 12,522,649 Ordinary Shares in issue.
Use of proceeds
Good Energy intends to use the net proceeds of the fundraising to continue, and accelerate, the development of the Group in each of the following areas identified by the Directors as being key to the future growth of the business:
- Marketing and brand awareness
development of new partnerships with national membership organisations and increase in local and national advertising to improve brand awareness
further development of the Group’s trading platform and credit lines to enable its trading team to improve trading margins across all technologies
- Asset development
expansion of the Group’s asset development portfolio including onshore wind and large scale solar projects