07:00 Wed 05 Feb 2020
Gore Street Energy - Result of Equity Issue
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THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
UNLESS THE CONTEXT REQUIRES OTHERWISE, WORDS AND EXPRESSIONS DEFINED IN THE PROSPECTUS published BY THE COMPANY ON
(the "Company" or "Gore Street")
Results of Placing
Key highlights:
· 3,615,986 new Ordinary Shares will be issued at 95.5p per Ordinary Share, raising gross proceeds of
· Net proceeds will be used to fund investment opportunities from the Investment Adviser's considerable pipeline of energy storage projects in the
· Admission is expected to become effective at
Further to the announcement on
A total of 3,615,986 new Ordinary Shares will be issued pursuant to the Placing at 95.5p per share. The net proceeds of the Placing will be used to fund investments in accordance with the Company's investment policy.
Applications have been made to the
On Admission, the Company's issued share capital will comprise 52,548,815 Ordinary Shares, none of which will be held in treasury. Each Ordinary Share carries the right to one vote and, therefore, the total number of voting rights in the Company on Admission will be 52,548,815. This figure may be used by Shareholders and other investors as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the
Commenting on the Placing, Alex O'Cinneide, CEO of
"We are delighted to have had inbound interest from significant institutions with strong ESG mandates. We remain fully focused on being a critical part of the transition to a low carbon economy and these shareholders will help us achieve this more rapidly.
The Company's large and growing portfolio has been developed since IPO with best in class capital efficiency and we maintain a fully committed position. We thank both our existing shareholders and our new investors for their support of the Company and its strategy. We look forward to providing an update in the near term as we continue to build on our market leading energy storage position and pursue the attractive investment opportunities in our considerable pipeline to deliver Shareholder returns".
The Legal Entity Identifier of the Company is 213800GPUNVGG81G4O21.
For further information:
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Alex O'Cinneide |
Tel: +44 (0) 20 3826 0290 |
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Shore Capital |
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Tel: +44 (0) 20 7601 6128 |
Media enquiries
Buchanan |
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Tel: +44 (0) 20 7466 5000 |
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Email: Gorestreet@buchanan.uk.com |
Notes to Editors
About
Gore Street is
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