TIDMGSEO
RNS Number : 5450Q
VH Global Sustainable Energy Oppt.
29 June 2022
LEI: 213800RFHAOF372UU580
THE INFORMATION IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT
FOR PUBLICATION, RELEASE OR DISTRIBUTION DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, ANY
MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN TO
PROFESSIONAL INVESTORS IN THE REPUBLIC OF IRELAND AND THE
NETHERLANDS), ANY OF THEIR RESPECTIVE TERRITORIES OR POSSESSIONS,
OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S.
PERSONS. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT HAS BEEN
PREPARED FOR INFORMATION PURPOSES ONLY. IT IS ISSUED BY AND IS THE
SOLE RESPONSIBILITY OF THE COMPANY. IT DOES NOT CONSTITUTE OR FORM
PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY
OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENT IN ANY
JURISDICTION.
The information communicated in this Announcement is deemed to
constitute inside information as stipulated under the UK version of
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
the law of England and Wales by virtue of the European Union
(Withdrawal) Act 2018, as amended ("EUWA"), as further amended by
UK legislation from time to time. Upon the publication of this
Announcement, this information is considered to be in the public
domain.
Unless otherwise defined, capitalised words and phrases in this
Announcement shall have the meaning given to them in the Prospectus
dated 9 June 2022.
29 June 2022
VH Global Sustainable Energy Opportunities plc
("GSEO" or the "Company")
Result of Placing, Open Offer, Offer for Subscription and
Intermediaries Offer
Further to its announcement on 9 June 2022, the Board of GSEO is
pleased to announce that the Company has successfully completed its
Placing, Open Offer, Offer for Subscription and Intermediaries
Offer (together, the "Initial Issue"), raising gross proceeds of
GBP122 million.
The proceeds raised will be used to invest in a number of
potential Sustainable Energy Infrastructure Investments that
Victory Hill Capital Advisors LLP (the "Investment Adviser") has
(i) secured for the Company the exclusive right to negotiate with
the owner to acquire, (ii) issued non-binding offers for the
Company to acquire, and/or (iii) is at an advanced stage of
negotiation with the respective developers and/or other Sustainable
Energy infrastructure investments which may become available to the
Company.
The Investment Advisor is confident that the Company would be
able to invest or commit substantially all of the net proceeds from
the Initial Issue within three to six months following
Admission.
Bernard Bulkin OBE, Chair of GSEO, said:
"Since IPO in February 2021 we have successfully committed or
deployed c.GBP290m across an attractive portfolio of 24 assets
diversified by both technology and geography. This further capital
commitment of GBP122m, from both new and existing shareholders,
will support our future growth ambitions and takes our total
capital raised to over GBP455m in less than 18 months. This is a
great achievement in challenging market conditions and I would like
to thank our existing investors for their continuing support and
welcome those new investors to our shareholder register. Their
investment provides a strong endorsement of our strategy and
ability to deploy capital into appropriate projects quickly and
effectively.
"The Company is well capitalised, and with its inflation linked
revenue streams, is well positioned to navigate the current market
volatility, deliver returns to shareholders and continue making a
positive impact on the global energy transition."
NOTIFICATION OF TRANSACTION BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES (PDMRS) AND PERSONS CLOSELY ASSOCIATED (PCAS)
The Board announces that the following Directors have
participated in the Initial Issue and will acquire the following
shares:
-- Bernard Bulkin OBE, Chair of the Company, 18,181 New Ordinary Shares;
-- Margaret Stephens, Director of the Company, 18,181 New Ordinary Shares;
-- Richard Horlick, Director of the Company, 100,000 New Ordinary Shares; and
-- Louise Kingham CBE, Director of the Company, 10,000 New Ordinary Shares;
APPLICATION FOR LISTING AND ADMISSION TO TRADING
Applications will be made for the 110,909,091 New Shares to be
admitted to the premium segment of the Official List and to trading
on the Main Market of the London Stock Exchange ("Admission").
Admission is expected to become effective, and dealings in the New
Shares are expected to commence, at 8.00 a.m. on 1 July 2022.
The issue of the New Shares is conditional on Admission becoming
effective by not later than this time or such later date as may be
provided for in the Issue Agreement and on the Issue Agreement
becoming otherwise unconditional in all respects, and not being
terminated in accordance with its terms, before Admission becomes
effective.
A total of 110,909,091 New Shares will be issued at a price of
110 pence per Share, of which 70,388,725 Shares will be issued
pursuant to the Open Offer, 2,307,719 Shares will be issued
pursuant to the Excess Application Facility, 10,865,507 Shares will
be issued pursuant to the Offer for Subscription, 1,867,895 Shares
will be issued pursuant to the Intermediaries Offer and 25,479,245
Shares will be issued under the Placing.
Following this issue, the Company's issued share capital will
comprise 422,498,890 ordinary shares. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
EXPECTED TIMETABLE
Initial Admission and crediting of 8.00 a.m. on 1 July 2022
CREST accounts in respect of the Initial
Issue
Despatch of share certificates in By 13 July 2022
respect of New Ordinary Shares issued
in certified form*
* Underlying Applicants who apply to Intermediaries for New
Ordinary Shares under the Intermediaries Offer will not receive
share certificates.
FOR FURTHER INFORMATION, PLEASE CONTACT
Edelman Smithfield (PR Adviser)
Ged Brumby +44 (0)7540 412 301
Kanayo Agwunobi +44 (0)758 101 0560
Victory Hill Capital Advisors LLP (Investment Adviser)
Navin Chauhan
info@victory-hill.com
Numis Securities Limited (Sole Sponsor, Joint Corporate Broker,
Joint Financial Adviser & Joint Bookrunner)
David Benda +44 (0)20 7260 1000
Matt Goss
George Shiel
Alvarium Securities Limited (Joint Corporate Broker, Joint
Financial Adviser, Joint Bookrunner & Intermediaries Offer
Adviser)
Mark Thompson +44 (0)20 7016 6711
Eddie Nissen +44 (0)20 7016 6713
Oliver Kenyon +44 (0)20 7016 6704
G10 Capital Limited (AIFM)
Mohammed Rahman +44 (0)20 7397 5450
Paul Cowland
Apex Fund and Corporate Services (UK) Limited (Company
Secretary)
Andrew Humphries +44 (0)7435 828 755
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