Redt Energy Share Discussion Threads

[fieldhouse] 08/12/2016 10:32

If they need more money now it will no doubt be that they have a very large potential order book .
Far greater than expected

[10p here we come] 08/12/2016 10:32

12bn - YOU ARE A HERO!

Fair play.

[12bn] 08/12/2016 10:31

Thanks 'wasntreallysure',it was the most logical explanation for all the 100k sells. Now the share price will drop to just below 8p in the coming weeks imo. You should have sold at 16p dogbreath!

[10p here we come] 08/12/2016 10:31

Egg all over my face. Should have said 8p!!

[brucie5] 08/12/2016 10:30

Whoa! Well I predicted 10p by the look of the chart. I hope those who have been ridiculing caution will now be stuffing their faces with humble pie, even if they don't have any resources left to take advantage of the placing.
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dlg32 Dec '16 - 17:25 - 9452 of 9682 0 0
Fully funded to end of 2017 without making any sales....so fully funded to 2017 with zero sales...sales are imminent ..
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Apparently not the case.

[wasntreallysurewhatwasgoingon] 08/12/2016 10:27

12bn was right!

[rollthedice] 08/12/2016 10:26

That's some discount to share price Nearly bought some earlier (having sold in November) but will now wait for 8p levels which will present given open offer will keep share price down until completed.

[ashtree2] 08/12/2016 10:26

I understood that no placing was required until next year.

[12bn] 08/12/2016 10:25

cyberbub,you are as thick as doggie,an RNS has just come out,8p a share placing,150m shares to drag the share price down! This will go below 8p imo before any bounce!

[cyberbub] 08/12/2016 10:20

This is clearly the bottom now IMO. Massive unexplained drop on a volume spike.NAI

[12bn] 08/12/2016 10:20

There's the RNS! I warned you all!//////RNS Number : 3251R

RedT Energy PLC

08 December 2016

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR AUSTRALIA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

This announcement contains inside information

8 December 2016

redT energy plc

("redT" or the "Company")

Proposed Placing and Open Offer and Notice of General Meeting

redT energy plc, the energy storage technology company, is pleased to announce that it has conditionally raised gross proceeds of GBP12 million from institutional and other investors through a proposed issue of 150,000,000 Placing Shares (the "Placing") at a price of 8 pence per share (the "Placing Price").

The Company is grateful for the continued support of redT's existing shareholders and is therefore proposing separately to make an Open Offer to all Qualifying Shareholders to enable Qualifying Shareholders to have the opportunity to participate in the capital raising process at a price equivalent to the Placing Price. It is proposed that the Open Offer will raise up to GBP3 million (being less than the EUR5 million maximum amount permitted without requiring the publication by the Company of a prospectus under the Prospectus Rules).

The Company intends to use the net proceeds it receives from the Placing to fund:

-- Capital expenditure for development of Generation 3 (Gen 3) - approximately GBP1.3 million;
-- Operating costs for Gen 3 and Generation 4 (Gen 4) development - approximately GBP2.0 million; and

-- Sales, operations and working capital for the next 2 years to accelerate pipeline delivery - approximately GBP8.0 million.
The Company's strategy is not contingent upon a full take-up under the Open Offer, and any Open Offer funds received will be additional to the Company's immediate funding requirements.

The Placing and the Open Offer (together, the "Fundraising") are conditional, amongst other things, on the passing of a resolution (the "Resolution") by Shareholders at the General Meeting to be held at The Equinox Room, Clerkenwell Workshops, 27-31 Clerkenwell Close, London, EC1R 0AT at 10.30 a.m. on 30 December 2016.

The Company has obtained irrevocable undertakings from certain shareholders, including directors, to vote in favour of the Resolution in respect of, in aggregate, 173,771,694 million Ordinary Shares, representing approximately 37.1 per cent of the of the Existing Ordinary Shares in issue.

The New Ordinary Shares will represent approximately 28.4 per cent. of the Enlarged Share Capital immediately following completion of the Placing and the Open Offer (assuming the Open Offer is fully subscribed). The Issue Price represents an approximate 29.7 per cent. discount to the price of 11.4 pence per Ordinary Share at which the Ordinary Shares traded on AIM on 7 December 2016 (the latest practicable date prior to this announcement), and a 30.8 per cent discount to the average share price during the 90 trading days prior to 7 December 2016.

Neil O'Brien, a Non-executive Director of the Company, has subscribed through the Placing for 625,000 Placing Shares at the Placing Price.

The Placing Shares and the Open Offer Shares will, when issued and fully paid, rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends or other distributions declared, made or paid after the date of Admission.

Subject to the passing of the Resolution required to enable the Placing and the Open Offer to proceed, application will be made to AIM for Admission of the Placing Shares and the Open Offer Shares to trading on AIM. Admission is expected to occur no later than 8.00 a.m. on 3 January 2017 or such later time and/or date(s) as Cenkos and the Company may agree (not being later than 17 January 2017).

Shareholders should be aware that in the event that the Resolution is not passed, the Company will not be able to proceed with the Fundraising, with the result that the anticipated net proceeds of the Fundraising will not become available to fund proposed upcoming expenditure and achieve the objectives currently pursued by the Board. The Group's business plan and growth prospects may be adversely affected as a result.

A circular in connection with the proposed Fundraising (the "Circular") and notice of General Meeting will be posted to Shareholders later today. The Circular sets out in detail (i) the background to and reasons for the Fundraising and (ii) the resolution which is required to be passed by Shareholders at the General Meeting.

All capitalised terms in this announcement are as defined in the Circular which will be available on the Company's website www.redtenergy.com.

Scott McGregor, CEO, commented:

"redT has successfully proven its disruptive technology with the production of one of the longest life, lowest cost industrial energy storage machines, and we are now entering the next stage of development with the commercial roll-out of our Gen 2 units. Estimated at $100-$150 billion, the stationary energy storage market presents redT with a very significant opportunity for sustainable growth and our technology holds the key to unlocking firm renewable power for the future. With a strengthened balance sheet, we will now be able to aggressively ramp up our sales and marketing efforts, and continue the development of the future generation of redT machines.

"I would like to thank both our existing and new shareholders for their support and we are pleased to provide existing shareholders with the opportunity to participate through the Open Offer."

Contact Details:

[dogrunner11] 08/12/2016 10:20

Looks like they are emptying today, pick up them cheap shares fellas!!!

[12bn] 08/12/2016 10:18

Look at all the 100k sells,someone is selling big time! This smells of a pre-selling of placing shares to me,despite what is said about 'no cash needed here'. If it isn't that (and I think it is) then is there a short attack here or is it just PIs with lots of shares to sell at ever lower prices (I don't reckon so)? My guess is a BIG placing at between 8p and 10p,we shall see.

[fieldhouse] 08/12/2016 10:17

Are you sure they are buys ?

A lot of 100k deals.
More like the mms knew what was coming and dropped the price.
The seller is predictable. Why not take advantage ?

[alchemy] 08/12/2016 10:13

Meanwhile back at Red, we "need" , means would heartily like , a one-day reversal.

[peterpowell21] 08/12/2016 09:46

can i give you a heads up on a company.
take a look at MTL.
its worth a read.

[briannewby] 08/12/2016 09:45

2 nice 100k buys just printed (1 hour delayed reporting)

[wasntreallysurewhatwasgoingon] 08/12/2016 09:30

That'll be from the weight of my Buying.

Hope it helps.

[spoole5] 08/12/2016 09:25

Seller finished?