Good Energy Group PLC Update on Scrip Dividend (6028D)

TIDMGOOD

RNS Number : 6028D

Good Energy Group PLC

07 July 2016

07 July 2016

Good Energy Group PLC

("Good Energy" or "the Company")

Update on Scrip Dividend

Good Energy announces the following in relation to the ordinary share capital of the Company:

Elections to accept the scrip dividend alternative with regard to the final dividend for the year ending 31 December 2015 have been received from holders of 1,022,138 ordinary shares of 5p each ("Ordinary Shares"), in aggregate, representing approximately 6.83% of the Ordinary Shares in issue on 2 June 2016, being the record date for the final dividend.

Accordingly, 10,763 new Ordinary Shares will be issued in satisfaction of such elections at an equivalent price of 217.5p each ("Scrip Dividend Shares"), increasing the issued Ordinary Share capital of the Company to 16,477,342 Ordinary Shares. Good Energy confirms that the scrip dividend reference price for the fully paid Ordinary Shares to be issued to shareholders electing to receive the scrip dividend alternative for the final dividend, payable on 8 July 2016, will be 217.5p per share.

The scrip reference price was calculated from the average of the middle market quotations for an Ordinary Share in the Company as derived from the Daily Official List of the London Stock Exchange during the period of five dealing days commencing on the ex-dividend date (2 June 2016).

The Directors' elections and resulting holdings are as follows (if applicable):

 
Director           Number of scrip dividend shares  Ordinary Shares following scrip dividend  Holding in company % 
                   26                               2,436                                     0.01% 
Francesca Ecsery 
 Richard Squires    386                              36,899                                    0.22% 
 

Application has been made for the 10,763 Scrip Dividend Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. It is expected that admission will be effective on 13 July 2016 and dealings will also commence on 13 July 2016. Good Energy has extended the timetable for the issue and allotment of ordinary shares under the scrip dividend scheme to meet the admission requirements for trading of new shares on AIM.

The expected timetable for payment of the final dividend is as follows:

 
8 July 2016   Dividend payment date 
12 July 2016  Issue and allotment of 
               ordinary shares as scrip 
               dividend 
12 July 2016  Posting of share certificates 
               and scrip dividend vouchers 
13 July 2016  Admission of shares to 
               trading on AIM 
 
 

Following admission, the enlarged issued share capital of Good Energy with voting rights attached will consist of 16,477,342 Ordinary Shares with one vote per Ordinary Share. There are no shares held in Treasury. The total number of voting rights in Good Energy is therefore 16,477,342 which is the figure that may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest, or a change to their interest, in Good Energy.

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 For further information 
  please contact: 
 Arden Partners plc (Nomad)    0121 423 8900 
 Steve Douglas 
 Patrick Caulfield 
 Camarco (Financial PR 
  Adviser)                     020 3757 4980 
 Geoffrey Pelham-Lane 
 Georgia Mann 
 Good Energy Press Office      01249 478 358 
 Luke Bigwood 
 

Notes to editors

- Good Energy is a fast-growing 100% renewable electricity supply and generation company, offering award-winning customer service.

- An AIM-listed PLC, and founder member of the Social Stock Exchange, its mission is to support change in the energy market, address climate change and boost energy security.

- The company has consistently performed well in the annual Which? energy company customer satisfaction survey, winning first or second place in each of the last four years.

- It now has more than 68,000 renewable electricity customers and 38,800 gas customers. It also provides Feed-in Tariff administrative services to more than 112,600 sites. (All figures as at 31 December 2015.)

- Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm, and owns and operates Hampole Wind Farm, near Doncaster. The company also owns and operates seven solar farms.

- 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, for the second year running, Small Cap Awards - Social Impact Company of the Year.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 07, 2016 11:49 ET (15:49 GMT)