Harmony Energy Inc. - Acquisition of Shares

Harmony Energy Income Trust

08/02/2024 07:00

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RNS Number : 4082C  Harmony Energy Income Trust PLC  08 February 2024

08 February 2024

Harmony Energy Income Trust plc

(the "Company" or "HEIT")

 

Acquisition of Shares

 

Harmony Energy Income Trust plc, which invests in battery energy storage
system ("BESS") assets in Great Britain, announces that certain principals of
Harmony Energy Advisors Limited ("HEAL"), acquired on 5 February 2024 in
aggregate 2,850,000 ordinary shares in the Company at an average price of 39p
per share. Following the acquisition of these shares, the principals of HEAL
hold in aggregate 7,614,298  ordinary shares representing 3.35 per cent. of
the Company's issued share capital.

END

 

For further information, please contact:

 

 Harmony Energy Advisors Limited
 Paul Mason

 Max Slade

 Peter Kavanagh

 James Ritchie
 info@harmonyenergy.co.uk (mailto:info@harmonyenergy.co.uk)

 Berenberg                                                        +44 (0)20 3207 7800

 Ben Wright

 Richard Bootle

 Dan Gee-Summons

 Stifel Nicolaus Europe Limited                                   +44 (0)20 7710 7600

 Mark Young

 Edward Gibson-Watt

 Rajpal Padam

 Madison Kominski

 Camarco                                                          +44 (0)20 3757 4980
 Eddie Livingstone-Learmonth

 Georgia Edmonds

 JTC (UK) Limited                                                 +44 (0)20 3832 3877
 Uloma Adighibe

 Harmony.CoSec@jtcgroup.com (mailto:Harmony.CoSec@jtcgroup.com)

 

LEI: 254900O3XI3CJNTKR453

 

About Harmony Energy Advisors Limited (the "Investment Adviser")

 

The Investment Adviser is a wholly owned subsidiary of Harmony Energy Limited.

 

The management team of the Investment Adviser have been exclusively focussed
on the energy storage sector (across multiple projects) in Great Britain for
over seven years, both from the point of view of asset owner/developer and in
a third-party advisory capacity.  The Investment Adviser is an appointed
representative of Laven Advisors LLP, which is authorised and regulated by the
Financial Conduct Authority.

 

 

Important Information

 

This announcement does not constitute an offer to sell or the solicitation of
an offer to acquire or subscribe for shares in the Company in any
jurisdiction. This distribution of this announcement outside the UK may be
restricted by law. No action has been taken by the Company that would permit
possession of this announcement in any jurisdiction outside the UK where
action for that purpose is required. Persons outside the UK who come into
possession of this announcement should inform themselves about the
distribution of this announcement in their particular jurisdiction.

 

This announcement contains (or may contain) certain forward-looking statements
with respect to certain of the Company's plans and/or the plans of one or more
of its investee companies and their respective current goals and expectations
relating to their respective future financial condition and performance and
which involve a number of risks and uncertainties. The Company's target
returns are a target only and there is no guarantee that these will be
achieved. This Company cautions readers that no forward-looking statement is a
guarantee of future performance and that actual results could differ
materially from those contained in the forward-looking statements.

 

It should also be noted that any future NAV per Ordinary Share announced by
the Company in due course will, in addition to the matters described in this
announcement, also be affected by valuation movements in the Company's
Portfolio and other factors including, without limitation, purchase prices of
battery energy storage systems and components, project development and
construction costs, income and pricing from contracts with National Grid ESO
and other counterparties, the potential for trading profitability in the
wholesale electricity markets and/or Balancing Mechanism, performance of the
Company's investments, and the availability of projects which meet the
Company's minimum return parameters in accordance with the Company's
investment policy .

 

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