REG - eEnergy Group PLC - Banking Partner Update

EenergyAnnouncement

13/03/2023 11:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230313:nRSM7535Sa&default-theme=true

RNS Number : 7535S  eEnergy Group PLC  13 March 2023

13 March 2023

 

eEnergy Group plc

("eEnergy" or "the Group")

 

Banking Partner Update

 

eEnergy (AIM: EAAS), the net zero energy services provider, notes developments
in relation to Silicon Valley Bank UK Limited ("SVB UK"), one of the Group's
banking partners which has now been acquired by HSBC UK Bank plc ("HSBC").

 

The Group wishes to advise shareholders that it does not have any material
operating cash exposure to SVB. Whilst the Group maintains a number of bank
accounts with SVB UK, primarily used in relation to collections from clients
on behalf of project funders, it typically uses other banking partners for its
day-to-day business transactions, including holding its operating cash
balances.

 

The Group's primary relationship with SVB is in relation to currency hedging
and a fully-drawn £5 million Revolving Credit Facility ("RCF').

 

The Board does not expect any material impact to its business, adjusted
earnings or cash position.

 

 

 

Contacts:

 

 eEnergy Group plc                                                    Tel: +44 20 7078 9564
 Harvey Sinclair, Chief Executive Officer                             info@eenergyplc.com (mailto:info@eenergyplc.com)

                                                                       ;    www.eenergyplc.com (http://www.eenergyplc.com/)
 Crispin Goldsmith, Chief Financial Officer

 Singer   Capital Markets  (Nominated Adviser and Joint Broker)       Tel: +44 20 7496 3000
 Justin McKeegan, Asha Chotai, James Maxwell (Corporate Finance)

 Tom Salvesen (Corporate Broking)

 Canaccord Genuity Limited  (Joint Broker)                            Tel: +44 20 7523 8000
 Max Hartley, Tom Diehl (Corporate Broking)

 Tavistock                                                            Tel: +44 207 920 3150
 Jos Simson, Heather Armstrong, Katie Hopkins                         eEnergy@tavistock.co.uk (mailto:eEnergy@tavistock.co.uk)

 

About  eEnergy Group plc

 

eEnergy (AIM: EAAS) is a net zero energy services provider, empowering
organisations to achieve net zero by tackling energy waste and transitioning
to clean energy, without the need for upfront investment. It is making net
zero possible and profitable for all organisations in four ways:

·      Transition to the lowest cost clean energy through the Group's
digital procurement platform and energy management services. 

·      Tackle energy waste with granular data and insight on energy use
and dynamic energy management. 

·      Reduce energy use with the right energy efficiency solutions
without upfront cost. 

·      Reach net zero with onsite renewable generation and electric
vehicle (EV) charging. 

 

eEnergy is a Top 5 B2B energy company and has been awarded The Green Economy
Mark by London Stock Exchange. 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEAEDDFSKDEFA