REG - Gresham HouseRE VCT2 - Company Update on Sale of Remaining Assets

Gresham House Renewable Energy VCT 2Announcement

24/04/2025 16:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250424:nRSX1082Ga&default-theme=true

RNS Number : 1082G  Gresham House Renewable EnergyVCT2  24 April 2025

24 April 2025

 

GRESHAM HOUSE RENEWABLE ENERGY VCT 2 PLC

(the "Company")

Company Update on Sale of Remaining Assets

Following the Company's announcement dated 2 December 2024 and the publication
of the Annual Report on 30 January 2025, the Board is pleased to announce two
positive developments regarding the Company's assets.

South Marston

The South Marston project's grid connection and associated documentation
required alteration following the closure of the Honda factory in Swindon.
These changes have now been agreed with the new landowner and the Company's
lenders. This resolves any perceived risks to the export of power from the
site which had been a concern to potential buyers.

Warranty Claims

The Investment Advisor has agreed warranty claims for replacement equipment at
two projects. These claims will improve output and contribute material
additional revenues once implemented.

Sales Process

The Board is in discussion with a few parties in relation to the sale of the
Company's assets. The resolution of the South Marston grid connection
agreement with the new Honda factory site owner and warranty claims
highlighted above will make these assets more attractive to these parties. The
Board is aware that this sales process has been prolonged and frustrating for
shareholders. However, the Board is determined to ensure the sales process
achieves maximum value for shareholders and targets a sale in late summer. The
Board will provide further announcements in due course.

END

For further information, please contact:

 Gresham House Asset Management  renewablevcts@greshamhouse.com
 Investor Relations              Tel: 020 3875 9860

 JTC (UK) Limited                GreshamVCTs@jtcgroup.com
 Company Secretary
Tel: 020 3846 9774

 

LEI: 213800GQ3JQE2M214C75

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  UPDSEWFILEISESL