HEGY Helius Eng

TIDMHEGY

RNS Number : 7448R

Helius Energy Plc

16 September 2014

16(th) September 2014

Helius Energy plc

("Helius" or the "Company")

Avonmouth Update

Helius announces that it has received notification from the investment grade industrial partner referred to in its announcement on 1(st) September 2014 that it does not intend to participate in providing equity to the Avonmouth project.

The Board intends to continue to work with Macquarie Group to seek to progress the Avonmouth financing with the other potential equity participants referred to in the announcement of 1(st) September 2014. The Board also intends to review the strategic options for the Company to maximise value from Avonmouth, under different financial structures, and from its wider portfolio of projects, including its operating CoRDe project in Rothes, Morayshire. Such review does not include the consideration or solicitation of bids for the listed Company.

The Directors intend to continue to control corporate and project costs tightly. The fundraise announced on 1(st) September 2014 provides the Company with working capital to November 2014. In the event that the Company is unable to secure financing for the Avonmouth project on suitable terms, or at all, in that timescale it will be reliant on realising value from its projects in order to meet its liabilities as they fall due.

For more information please contact:

Helius Energy plc Tel: +44 (0) 20 7723 6272

Adrian Bowles, Chief Executive Officer

Alan Lyons, Chief Financial Officer

Numis Securities Ltd Tel: +44 (0) 20 7260 1000

Jamie Lillywhite (as Nominated Adviser)

James Black (as Corporate Broker)

Citigate Dewe Rogerson Tel: +44 (0) 20 7282 2867

Chris Gardner

Malcolm Robertson

This information is provided by RNS

The company news service from the London Stock Exchange

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