REG - VH Global Sustain. - Result of Placing

VH Global Sustainable Energy OpportunitiesAnnouncement

01/12/2021 07:00

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RNS Number : 1231U  VH Global Sustainable Energy Oppt.  01 December 2021

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1 December 2021

VH Global Sustainable Energy Opportunities plc

 

Result of Placing

 

The Board of VH Global Sustainable Energy Opportunities plc ("GSEO" or the
"Company") is pleased to announce that the Company has raised a further £70
million pursuant to the placing (the "Placing") announced on 8 November
2021 (the "Placing Announcement"). Accordingly, the Company will issue a
total of 68,965,518 New Ordinary Shares at the placing price of 101.5
pence per New Ordinary Share.

 

GSEO intends to use the net proceeds of the Placing to invest in its enhanced
pipeline of assets which are high quality and diversified by geography and
technology.

Bernie Bulkin, Chair of the Company, commented:

 

"Taking the £70 million that has been committed as part of the Placing means
that we have successfully raised over £312 million since the Company was
launched in February this year. The capital raised, coupled with the strong
pipeline of opportunities that we have already identified, should allow us to
maintain our strong investment momentum into 2022.

I would like to thank our existing investors for their continuing support and
welcome those new investors to our shareholder register.

As economies around the world reassess their approaches towards a net-zero
carbon future following COP26, the Company is both well positioned, and well
capitalised, to continue its leadership role, driving the energy transition
while making a positive impact on the environment and the local communities in
which we invest."

Further details

 

Applications have been made to the Financial Conduct Authority for admission
of 68,965,518 New Ordinary Shares to the premium segment of the Official List
of the Financial Conduct Authority and to the London Stock Exchange for
admission to trading of the New Ordinary Shares on its main market for listed
securities ("Admission").  It is expected that Admission will become
effective at or around 8.00 a.m. on 3 December 2021 and that unconditional
dealings in the New Ordinary Shares will commence at that time.

 

The New Ordinary Shares will, when issued, be credited as fully paid and rank
pari passu with the existing Ordinary Shares in the capital of the Company,
including the right to receive all future dividends and distributions
declared, made or paid. For the avoidance of doubt, any New Ordinary Shares
issued pursuant to the Placing will not be entitled to the interim dividend
announced on 1 November 2021 payable to shareholders on the register of the
Company as at 12 November 2021.

 

Immediately following Admission, the Company's issued share capital will
consist of 311,589,799 Ordinary Shares with voting rights. This figure may be
used by shareholders in determining the denominator for the calculation by
which they will establish if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.

 

Directors' participation in the Placing

 

The Directors participated in the Placing and acquired 205,000 New Ordinary
Shares. Following Admission, the Directors will hold 240,000 Ordinary Shares,
representing 0.1% of the Company's Ordinary Shares in issue.

 

Terms used in this announcement shall, unless the context otherwise requires,
bear the meanings given to them in the Placing Announcement, which can be
found on GSEO's webpage: https://www.vh-gseo.com/ (https://www.vh-gseo.com/)
.

 

 

For further information please contact:

 

 Edelman Smithfield (PR Adviser)

 Ged Brumby / Andrew McLagan

 Tel: + 44 (0)7540 412 301 / +44 (0)7817 998 161

 Victory Hill Capital Advisors LLP (Investment Adviser)

 Navin Chauhan

 info@victory-hill.com (mailto:info@victory-hill.com)

 Numis (Sponsor and Bookrunner)

 Sales - Tod Davis

 Corporate - David Benda / Matt Goss

 Tel: +44 (0)20 7260 1000

 G10 Capital Limited (AIFM)

 Mohammed Rahman / Paul Cowland

 Tel: + 44 (0)20 7397 5450

 Apex Fund and Corporate Services (UK) Limited (Company Secretary)

 Anthony Lee

 Tel: +44 7435 829323

 

 

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