REG - Esken Limited - Response to press speculation

EskenAnnouncement

31/10/2023 07:15

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RNS Number : 7842R  Esken Limited  31 October 2023

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by
virtue of the European Union (Withdrawal) Act 2018.

 

31 October 2023

 

ESKEN LIMITED

('Esken' or 'the Group')

 

Response to press speculation

 

Esken Limited, the aviation and energy infrastructure group, notes the recent
press speculation regarding Esken Renewables.

The Group confirms that in accordance with the previously announced strategic
review of its operating businesses, it is in advanced discussions with Pioneer
Point Partners regarding a possible disposal of the entire issued share
capital of Esken Renewables.

Should the Group complete the disposal of Esken Renewables, the net proceeds
would be used to: repay the committed funding drawn under the Group's
facilities agreement with the specialty lender and associated costs; further
contribute to the Group's defined benefit pension scheme; and  provide
additional working capital in the short term.

Discussions are ongoing and there can be no certainty that any transaction
will be agreed or, if so, on what terms.

 

A further announcement will be made shortly.

 

This announcement contains inside information. The person responsible for
arranging this announcement on behalf of Esken is Adam Davidson, General
Counsel and Company Secretary.

 

Enquiries:

 

Esken
Limited
C/o Teneo

 

Teneo

Olivia Peters / Giles
Kernick
T: +44 (0)20 7353 4200

 
E: esken@teneo.com (mailto:esken@teneo.com)

 

TB Cardew, PR Advisers to Pioneer Point Partners

Tom
Allison
T: +44 (0) 7789 998 020

Henry
Crane
T: +44 (0) 7918 207157

 

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