Notice of EGM – Change of Name – Solgenics Limited
13/02/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230213:nRSM6487Pa&default-theme=true
RNS Number : 6487P Ncondezi Energy Limited 13 February 2023
www.ncondezienergy.com (http://www.ncondezienergy.com)
News Release
Notice of EGM - Change of Name - Solgenics Limited
13 February 2023: Ncondezi Energy Limited ("Ncondezi" or the "Company")
(AIM:NCCL) the African power development company focused on renewable energy
solutions, provides notice of an Extraordinary General Meeting ("EGM") of
Ncondezi Energy Limited to be held at 2.00 p.m. SAST (12.00 p.m.GMT) at The
Silo Hotel, Silo Square, V&A Waterfront, Cape Town, 8001, South Africa on
28 February 2023.
At the EGM, the Company is seeking shareholder approval to change its name to
Solgenics Limited, reflecting the Company's transition into a dedicated
renewable energy development company.
Notice convening the EGM is being posted today to shareholders of the Company
and will shortly be available on the Company's website at
http://www.ncondezienergy.com/general-meetings.aspx
(http://www.ncondezienergy.com/general-meetings.aspx) .
The Company's primary focus is the delivery of its 300MW solar PV plus BESS
renewable energy project in the Tete Province in northern Mozambique (the
"Tete Solar Project"), and has delivered material de risking milestones over
the last 2 months, including:
· Completion of the Tete Solar Project Feasibility Study
· Completion of Environmental and Social Impact Assessment Red Flag
Review
· Completion of Transmission Integration Study and receipt of
approval from state power utility Electricidade de Moçambique ("EDM")
· Receipt of exclusive use land rights for generation of solar
energy at the proposed project site
Commenting on the proposed name change, Hanno Pengilly, CEO, said: "The
proposed name change to Solgenics reflects our updated mission to develop
innovative power supply solutions for affordable and reliable electricity in
Africa, utilising the latest sustainable technologies. We will do this by
focusing on the development of grid scale renewable energy projects in the
southern African region, predominantly using solar and battery storage
solutions.
Solgenics also provides a clear signal to investors, Governments and potential
offtake partners that we are committed to developing clean, green power
projects.
To further support the transition, the Company has launched an ESG audit which
will review the Company's exposure to environmental, social and governance
risks and set out a realistic action plan to demonstrate that the Company
understands the issues and the opportunities it faces and has the correct
systems, policies and practices in place to manage ESG effectively.
Our flagship Tete Solar Project continues to make rapid progress and will
support Mozambique's ambition to be a regional leader in green energy
transition. We continue to progress offtake discussions and are reviewing
additional development work streams which can be launched in parallel to
ensure that we maintain momentum. We look forward to providing further updates
in the near future."
The Company continues to recognise the importance of ongoing engagement with
shareholders and will host an online investor meeting, open to all existing
and potential Shareholders on 28 February 2023 at 3.00 p.m. SAST (1.00 p.m.
GMT). On the call, Ncondezi CEO Hanno Pengilly will provide an update on the
business followed by a question and answer session. Participants are requested
to register their interest in attending and submit questions in advance via
email to info@ncondezienergy.com (mailto:info@ncondezienergy.com) by no
later than 3.00 p.m. SAST (1.00 p.m.GMT) on 26 February 2023. Dial in details
for the conference call will be sent to registered attendees on or before 27
February 2023.
Enquiries
For further information please visit www.ncondezienergy.com or contact:
Ncondezi Energy Hanno Pengilly +27 (0) 71 362 3566
Scott Mathieson, Edward Thomas, Kane Collings +44 (0) 20 3100 2000
Liberum Capital Limited
NOMAD & Joint Broker
Novum Securities Limited Colin Rowbury +44 (0) 20 7399 9427
Joint Broker
Elizabeth Johnson +44 (0) 777 56 55 927
Pimlico Advisory Ltd
Investor Relations
About Ncondezi Energy
Ncondezi is an African renewable energy development company focused on the
development of a 300MW solar PV plus BESS renewable energy in the Tete
Province in northern Mozambique (the "Tete Solar Project").
It is the intention that the Tete Solar Project will connect to the Mozambique
grid with target power off takers
in Mozambique and the Southern African Power Pool ("SAPP").
The Tete Solar Project takes full advantage of Mozambique's leading
sustainable energy resources and is fully
aligned with Government's objective to become a champion for energy transition
impacting all Southern Africa.
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 MSCEANAAFDEDEFA