TIDMEAAS

RNS Number : 7535S

eEnergy Group PLC

13 March 2023

13 March 2023

eEnergy Group plc

("eEnergy" or "the Group")

Banking Partner Update

eEnergy (AIM: EAAS), the net zero energy services provider, notes developments in relation to Silicon Valley Bank UK Limited ("SVB UK"), one of the Group's banking partners which has now been acquired by HSBC UK Bank plc ("HSBC").

The Group wishes to advise shareholders that it does not have any material operating cash exposure to SVB. Whilst the Group maintains a number of bank accounts with SVB UK, primarily used in relation to collections from clients on behalf of project funders, it typically uses other banking partners for its day-to-day business transactions, including holding its operating cash balances.

The Group's primary relationship with SVB is in relation to currency hedging and a fully-drawn GBP5 million Revolving Credit Facility ("RCF').

The Board does not expect any material impact to its business, adjusted earnings or cash position.

Contacts:

 
 eEnergy Group plc                     Tel: +44 20 7078 9564 
 Harvey Sinclair, Chief Executive      info@eenergyplc.com ; www.eenergyplc.com 
  Officer 
  Crispin Goldsmith, Chief Financial 
  Officer 
 Singer Capital Markets (Nominated     Tel: +44 20 7496 3000 
  Adviser and Joint Broker) 
 Justin McKeegan, Asha Chotai, 
  James Maxwell (Corporate Finance) 
  Tom Salvesen (Corporate Broking) 
 Canaccord Genuity Limited (Joint      Tel: +44 20 7523 8000 
  Broker) 
 Max Hartley, Tom Diehl (Corporate 
  Broking) 
 Tavistock                             Tel: +44 207 920 3150 
 Jos Simson, Heather Armstrong,        eEnergy@tavistock.co.uk 
  Katie Hopkins

About eEnergy Group plc

eEnergy (AIM: EAAS) is a net zero energy services provider, empowering organisations to achieve net zero by tackling energy waste and transitioning to clean energy, without the need for upfront investment. It is making net zero possible and profitable for all organisations in four ways:

-- Transition to the lowest cost clean energy through the Group's digital procurement platform and energy management services.

-- Tackle energy waste with granular data and insight on energy use and dynamic energy management.

   --      Reduce energy use with the right energy efficiency solutions without upfront cost. 
   --      Reach net zero with onsite renewable generation and electric vehicle (EV) charging.

eEnergy is a Top 5 B2B energy company and has been awarded The Green Economy Mark by London Stock Exchange.

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 or visit 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.

END

UPDEAEDDFSKDEFA

(END) Dow Jones Newswires

March 13, 2023 07:00 ET (11:00 GMT)

Eenergy (LSE:EAAS)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Eenergy Charts.
Eenergy (LSE:EAAS)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Eenergy Charts.