Harmony Energy Inc. - Update on Asset Sale Process

Harmony Energy Income Trust

19/12/2024 07:00

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RNS Number : 6470Q  Harmony Energy Income Trust PLC  19 December 2024

 

 

19 December 2024

Harmony Energy Income Trust plc

(the "Company" or "HEIT")

 

Update on Asset Sale Process

Harmony Energy Income Trust plc, which invests in battery energy storage
system assets in Great Britain, is pleased to announce an update on its asset
sale process.

The Company announced on 30 April 2024 that it had engaged Jones Lang LaSalle
with a mandate to seek offers for some or all of the Company's assets. On 18
October 2024, HEIT announced that it had been encouraged by the level of
interest and non-binding offers received from various parties relating to both
individual assets, as well as the full portfolio. It was also noted that a
select number of parties had been invited to proceed to the second phase of
the process.

Having received and analysed updated commercial offers during the second
phase, the Company today confirms that it is progressing to a final stage of
negotiations with a preferred bidder on an exclusive basis and in relation to
the Company's full portfolio of assets.

While there can be no certainty as to whether any assets will be sold, nor the
terms of any sale, the Company anticipates that negotiations with the
preferred bidder will be concluded in early February 2025. The completion of
any sale of the Company's portfolio will also be conditional upon Shareholder
approval.

END

 

For further information, please contact:

 

 Harmony Energy Advisors Limited (the "IA")
 Paul Mason

 Max Slade

 Peter Kavanagh

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

 Panmure Liberum Ltd                                              +44 (0)20 3100 2222

 Chris Clarke

 Darren Vickers

 Will King

 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

 Andrew Turner

 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 GB 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.

 

 

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