REG - Eneraqua Technolgs. - Cancellation of Deferred Shares

Eneraqua TechnologiesAnnouncement

14/03/2022 07:01

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RNS Number : 5844E  Eneraqua Technologies PLC  14 March 2022

Eneraqua Technologies plc

("Eneraqua Technologies", the "Company" or the "Group")

 

Cancellation of Deferred Shares

 

Eneraqua Technologies plc, a provider of specialist energy and water
efficiency solutions, announces that, as set out at the time of IPO, the
Company intends to undertake a court-approved reduction of capital in
accordance with the Companies Act 2006 and the Companies (Reduction of Share
Capital) Order 2008 in order to cancel its deferred shares (issued deferred
shares of £0.01 each in the capital of the Company, the "Deferred Shares").
The Deferred Shares do not have any rights or value.

 

The reduction of capital was approved by shareholders by way of a special
resolution passed on 16 November 2021. A final court hearing in relation to
the cancellation is expected to be heard on 22 March 2022.

 

A further announcement will be made shortly after the expected receipt of a
court order confirming the cancellation of the Deferred Shares, and approval
by the court of the statement of capital as required by the Companies Act
2006.

There is no change to the ordinary share capital of the Company. As at the
date of this announcement, the Company has 33,222,130 ordinary shares of 1
penny each in issue, all of which are admitted to trading on the AIM Market of
the London Stock Exchange.

 

 

 

For more information, please contact:

 

 Eneraqua Technologies plc                       Via Alma PR
 Mitesh Dhanak, CEO                              www.eneraquatechnologies.com (http://www.eneraquatechnologies.com)
 Iain Richardson, CFO

 finnCap Limited - Nominated adviser and Broker  +44(0)20 7220 0500
 Ed Frisby / Charlie Beeson - Corporate Finance
 Andrew Burdis / Sunila de Silva - ECM

 Alma PR - Financial PR and IR                   +44(0)20 3405 0205
 Justine James / Hilary Buchanan / Sam Modlin    eneraqua@almapr.co.uk

 

Notes to editors

 

Eneraqua Technologies (AIM:ETP) is a specialist in energy and water
efficiency. The Group has two divisions energy and water. Energy is the larger
division, with the Company focused on clients with end of life gas, oil or
electric heating and hot water systems. The Group provides turnkey retrofit
district or communal heating systems based either on high-efficiency gas or
ground/air source heat pump solutions that support Net Zero and
decarbonisation goals.

 

The water division is a growing service offering focused on water efficiency
upgrades for utilities and commercial clients including hotels and care
homes.

 

The activities in both divisions are underpinned by the Company's wholly-owned
intellectual property, the Control Flow HL2024 family of products which reduce
water wastage and improve the performance of heating and hot water systems.

 

The Company's main country of operation is the United Kingdom. The Company's
head office is based in London with additional offices in Leeds, Washington
(Sunderland), India, Spain and the Netherlands. The Company has 116 employees,
with the majority employed within the UK. Eneraqua Technologies has received
the London Stock Exchange's Green Economy Mark.

 

To find out more, please visit:  www.eneraquatechnologies.com
(http://www.eneraquatechnologies.com)

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