TIDMGOOD
RNS Number : 6727E
Good Energy Group PLC
10 May 2017
THIS ANNOUNCEMENT IS A FINANCIAL PROMOTION AND IS NOT INTENDED
TO BE INVESTMENT ADVICE. THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES OF AMERICA, CANADA, JAPAN, THE REPUBLIC OF IRELAND,
THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR TRANSMITTED, DISTRIBUTED
TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH
COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR
REGULATIONS (EACH A "RESTRICTED JURISDICTION"). ANY FAILURE TO
COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE LAWS
OF A RESTRICTED JURISDICTION.
This announcement is an advertisement and not an admission
document or a prospectus and does not constitute or form part of an
offer to sell or issue or a solicitation of an offer to subscribe
for or buy any securities nor should it be relied upon in
connection with any contract or commitment whatsoever. Investors
should not purchase or subscribe for any securities referred to in
this announcement except on the basis of the information in the
bond offer document (the "Invitation Document") intended to be
published by Good Energy Group PLC.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
Good Energy launches second bond to invest in growth
Good Energy Group PLC ("Good Energy" or the "Company"), the
AIM-listed renewable energy supply and generation company, today
announces the launch of its second corporate bond with a coupon of
up to 5% ("Good Energy Bonds II" or "Bonds II").
Highlights:
-- Good Energy Bonds II offer a coupon of 4.75% gross per annum, to be paid semi-annually
-- In addition, any Good Energy customer investing in Good
Energy Bonds II will be paid at maturity the equivalent to 0.25%
for each year of being a customer and a bondholder
-- Bonds II have an initial term of four years
-- Investments in Bonds II can be made in multiples of GBP250
-- Available to UK resident individuals aged 18 or over,
companies, trusts, charities or other legal entities resident in
the UK for corporation tax purposes, Bonds II are SIPP
compliant
-- Investors in Good Energy's first corporate bond will be able
to roll over some or all of their investment into Bonds II,
receiving their existing higher interest rate until 22 November
2017, the maturity date of the Good Energy Bonds I
Good Energy was founded 18 years ago with the aim of helping
homes and businesses to be part of a sustainable solution to
climate change. Good Energy supplies electricity throughout the
British Isles from 100% renewable natural resources like wind,
sunshine and rain. In 2016, the Company launched its carbon neutral
gas offering, and now supplies renewable electricity to over 71,400
homes and businesses and carbon neutral gas to over 44,100
households.
Good Energy has more than doubled its revenues and profits since
2013, when it launched its first corporate bond, and last year
delivered revenue growth of 41% to GBP90.1 million and EBITDA
growth of 39% to GBP10.1 million. The first corporate bond raised
GBP15 million in an oversubscribed offer, and the proceeds were
primarily used to support the development of solar farms that
supply electricity to tens of thousands of UK homes.
The Company is now seeking to raise GBP10 million via a second
corporate bond, up to an over-subscription maximum of GBP20
million, as part of a diversified funding strategy that seeks to
provide customers and investors with the opportunity to support a
socially responsible renewable energy company in its growth
ambitions to transform the way the UK sources, uses and interacts
with energy. The proceeds will help to fund Good Energy's next
phase of growth and ability to continue innovating for a cleaner,
greener and more prosperous world for future generations.
Juliet Davenport, OBE, Founder and CEO of Good Energy
commented:
"In the four years since we launched our first corporate bond,
Good Energy has grown significantly and successfully adapted to the
changing energy and regulatory environment of the UK.
New technologies and the way we use energy are bringing a
modern, decentralised, low carbon structure to the UK energy
industry. We are excited about this evolution and the opportunities
it creates, and we believe Good Energy is ideally placed to thrive
in this new landscape. In addition to growing our core generation
and supply business, we are focusing on developing sustainable
energy solutions in areas such as energy storage, electric vehicle
networks and green business consultancy to support consumer and
business needs in this new environment.
Good Energy has a long history of customer ownership and we are
continuing this with the launch of Good Energy Bonds II, which will
be used to develop renewable energy projects and broader corporate
initiatives to fuel the future growth of the Company.
Our strategy is clear - deliver sustainable, profitable growth
by understanding and meeting our customers' needs. We believe this
aligns with not only the interests of our investors and customers
but ultimately our purpose of supplying 100% renewable and carbon
neutral solutions to UK customers."
Applications for the offer are due to close on 5 June 2017.
For more information on the Good Energy Bonds II, please see
goodenergy.co.uk/new-bond.
Capitalised terms shall have the same meaning as in the
Invitation Document unless the context requires otherwise.
For enquiries:
Good Energy Group PLC +44 (0) 1249 766 795
Juliet Davenport, Chief Executive Officer
Denise Cockrem, Chief Financial Officer
Smithfield / Edelman (Media enquiries) +44 (0) 20 3047 2476
Alex Simmons
Olivia Evans
Eleanor Best
Arden Partners plc +44 (0) 121 423 8900
Steve Douglas
Patrick Caulfield
Investec Bank plc +44 (0) 207 597 4000
Jeremy Ellis
Sara Hale
Notes to editors
-- Good Energy is a fast growing green energy company,
generating and selling 100% renewable electricity and green gas to
households and businesses across the UK.
-- An AIM-listed PLC, and founder member of the Social Stock
Exchange, its purpose is to support change in the energy market,
address climate change and boost energy security.
-- The Company has been awarded 4 out of 5 stars by Which? for
customer service in 2016 and 2017, and has been voted the best
energy company for customer service by users of
MoneySavingExpert.com for three consecutive polls.
-- As at 31 December 2016, Good Energy had over 71,400 renewable
electricity customers and 44,100 carbon neutral gas customers. It
also provides Feed-in Tariff administration services to over
133,000 sites, totalling over 248,500.
-- Good Energy is the owner of Delabole Wind Farm, the UK's
first commercial onshore wind farm and owns and operates Hampole
Wind Farm, near Doncaster. The Company also owns and operates seven
solar farms.
-- Good Energy received an average customer advocacy of 45. A
net promoter score is an index ranging from -100 to 100 that
measures the willingness of customers to recommend a company's
products or services to others. It is used as a proxy for gauging
the customer's overall satisfaction with a company's product or
service and the customer's loyalty to the brand.
-- Good Energy has won a number of awards, including Renewable
Energy Association Company of the Year Award 2016, Business Green
Company of the Year 2015, and was named Social Impact Company of
the Year at the 2014 and 2015 Small Cap awards.
Important Notice
This communication, which is a financial promotion for the
purposes of Section 21 of the Financial Services and Markets Act
2000 (as amended) ("FSMA"), is issued by the Company which accepts
responsibility for the information contained herein. This
communication has been approved as a financial promotion for UK
publication by Arden Partners plc of Arden House, 17 Highfield
Road, Edgbaston, Birmingham, West Midlands, B15 3DU, which is
authorised and regulated by the Financial Conduct Authority ("FCA")
to conduct investment business. Arden Partners plc is registered on
the FCA's Register with registered number 214032.
If you are in any doubt about the action you should take or the
contents of this communication, you should contact an appropriate
professional adviser authorised by the FCA under the Financial
Services and Markets Act 2000 ("FSMA") to conduct investment
business and who specialises in advising on investments in shares,
bonds and other securities, including unlisted securities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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