Good Energy Group PLC Update on Scrip Dividend (5145M)

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RNS Number : 5145M

Good Energy Group PLC

14 October 2016

14 October 2016

Good Energy Group PLC

("Good Energy" or "the Company")

Update on Scrip Dividend

Good Energy which supplies and generates 100% renewable electricity and carbon neutral gas to UK homes and businesses announces the following in relation to the ordinary share capital of the Company:

Elections to accept the scrip dividend alternative with regard to the interim dividend for the year ending 31 December 2016 have been received from holders of 2,018,579 ordinary shares of 5p each ("Ordinary Shares"), in aggregate, representing approximately 12.25% of the Ordinary Shares in issue on 23 September 2016, being the record date for the interim dividend.

Accordingly, 7,361 new Ordinary Shares will be issued in satisfaction of such elections at an equivalent price of 250.90p each ("Scrip Dividend Shares"), increasing the issued Ordinary Share capital of the Company to 16,484,703 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 interim dividend, payable on 19 October 2016, will be 250.90p 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 (22 September 2016).

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

 
Director              Number of        Ordinary Shares   Holding 
                       scrip dividend   following scrip   in company 
                       shares           dividend          % 
Ms Francesca 
 Ecsery               12               3328              0.02% 
 Mr Richard Squires    147              37046             0.22% 
Mrs Emma Tinker       5                1461              0.01% 
 

Application has been made for the 7,361 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 18 October and dealings will commence on 19 October 2016.

Following admission, the enlarged issued share capital of Good Energy with voting rights attached will consist of 16,484,703 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 16,484,703 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.

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

 
17 October 2016:  Posting of dividend cheques and tax vouchers 
18 October 2016:  Issue and allotment of ordinary shares as scrip dividend 
18 October 2016:  Posting of share certificates 
19 October 2016:  Dividend payment date 
 

[Ends]

For further information, please contact:

 
Good Energy Group PLC                     Tel. [phone] 
  Juliet Davenport, Chief Executive 
  Denise Cockrem, Chief Financial Officer 
 Arden Partners plc (Nomad)                Tel: [phone] 
  Steve Douglas, Patrick Caulfield 
 Camarco (Financial PR Adviser)            Tel: [phone] 
  Geoffrey Pelham-Lane, Georgia Mann 
 Good Energy Press Office                  Tel: [phone] 
  Luke Bigwood 
 

Notes to editors

Good Energy is a fast-growing 100% renewable electricity and green gas 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 five years.

It now has 72,500 renewable electricity customers and 43,000 gas customers. It also provides Feed-in Tariff administrative services to 124,500 sites. (All figures as at 30 June 2016.)

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, BusinessGreen Company of the Year Award 2015, and, was named Social Impact Company of the Year at the 2014 and 2015 Small Cap awards.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 14, 2016 02:00 ET (06:00 GMT)