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TIDMGKO
RNS Number : 3065G
Greenko Group plc
28 June 2012
28 June 2012
Greenko Group plc
("Greenko" or "the Company")
Equity Subscription
Greenko, the Indian developer, owner and operator of clean energy projects, has raised GBP5 million at a price of 225 pence per share through the subscription for 2,222,222 new ordinary shares, each of EUR 0.005 ("Ordinary Shares"), by ACMK Enterprises Limited ("ACMK"), a company controlled by Anil Chalamalasetty and Mahesh Kolli, the Executive Directors of the Company.
The subscription price of 225 pence per share was set on 1 June 2011, when the Company announced it had raised GBP50 million in a placing ("the Placing") to help roll out the wind platform. At that time, ACMK entered into a conditional subscription agreement for 2,222,222 new Ordinary Shares at the same price as the Placing to raise a further GBP5 million for the Company.
The subscription is only conditional on the issue of the shares and their admission to trading on AIM ("Admission"). An application will be made to AIM for the listing of the 2,222,222 Ordinary Shares, which will rank pari passu with the existing Ordinary Shares. Following the Admission, the Company will have 150,661,606 Ordinary Shares in issue and ACMK will own a total of 21,643,146 Ordinary Shares, representing 14.4% of the enlarged and issued share capital of the Company.
-Ends-
For further information please visit www.greenkogroup.com or call:
Greenko Group plc
Dr. Vivek Tandon, Non-Executive Director +44 (0)20 7614 5917
Vinodka Muria, Non-Executive Director
Mark Thompson +44 (0)77 1022 9174
Arden Partners plc
Richard Day / Adrian Trimmings +44 (0)20 7614 5917
Tavistock Communications
Matt Ridsdale / Mike Bartlett +44 (0)20 7920 3150
About Greenko
Greenko is a mainstream participant in the growing Indian energy industry and a market leading owner and operator of clean energy projects in India. The Group is building a de-risked portfolio of wind, hydropower, natural gas and biomass assets within India and intends to increase the installed capacity it operates by winning concessions to develop new greenfield assets as well as making selective acquisitions which enhance shareholder value.
Greenko's portfolio is carefully planned and managed to ensure it offers investors diversification geographically and spreads risks across a number of projects which utilise varied environmental technologies. The Company's goal is to reach 1 GW of operational capacity in 2015. Operational capacity will be 259.4 MW by early July, split between 44.8 MW of wind, 136.3 MW of hydro, 41.5 MW of biomass and 36.8 MW of gas/liquid fuel. Greenko's portfolio, which includes projects in the development pipeline, currently stands at 1.63 GW.
With a core belief in sustainability both operationally and environmentally, Greenko endeavours to be a responsible business playing an important role in the community beyond its role in the power generation industry. The Company maintains a continuous involvement in localised projects and community programmes which centre on education, health and wellbeing, environmental stewardship and improving rural infrastructure.
Greenko Group plc was admitted to trading on the AIM market of the London Stock Exchange (LSE: GKO) in November 2007.
This information is provided by RNS
The company news service from the London Stock Exchange
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