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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Renewable Eng. (See LSE:WIND) | LSE:RWE | London | Ordinary Share | GB00B0717F94 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 65.00 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
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TIDMRWE
RNS Number : 4043D
AIM
02 December 2009
+----------------------------------------------------------------------------+
| ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN |
| ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
+----------------------------------------------------------------------------+
| |
+----------------------------------------------------------------------------+
| COMPANY NAME: |
+----------------------------------------------------------------------------+
| Renewable Energy Generation Limited |
| |
+----------------------------------------------------------------------------+
| COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING |
| ADDRESS (INCLUDING POSTCODES): |
+----------------------------------------------------------------------------+
| La Plaiderie House, St Peter Port, Guernsey, GY1 1WF, Channel islands |
| (prior to Admission) |
| Elizabeth House, 9 Castle Street, St Helier, Jersey JE2 3RT, Channel |
| Islands (at time of and following Admission) |
| |
+----------------------------------------------------------------------------+
| COUNTRY OF INCORPORATION: |
+----------------------------------------------------------------------------+
| Guernsey (prior to Admission) |
| Jersey (at time of and following Admission) |
+----------------------------------------------------------------------------+
| COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE |
| 26: |
+----------------------------------------------------------------------------+
| http://www.renewableenergygeneration.co.uk |
| |
+----------------------------------------------------------------------------+
| COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF |
| AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY). IF THE ADMISSION |
| IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE |
| STATED: |
| |
+----------------------------------------------------------------------------+
| Renewable Energy Generation Limited (the "Company") is an existing AIM |
| company operating in the renewable energy sector. The Company's main |
| business is the development, ownership and operation of wind farms in the |
| UK through its wholly owned subsidiary The Cornwall Light & Power Co. |
| Limited ("CLP"). The Company's other subsidiary, REG Bio-Power UK Limited, |
| based in Nottingham, operates an electricity generation plant fuelled by |
| refined used cooking oil. |
| CLP currently operates 7 wind projects in Cornwall, County Durham, |
| Cumbria, Cambridgeshire and Gwynedd, with a total capacity of 21.3MW and |
| has a development pipeline of around 350MW. |
| Admission is sought as a result of the cessation of the Company's "fund" |
| designation and the migration of the Company's place of incorporation from |
| Guernsey to Jersey as detailed in the circular sent to shareholders of the |
| Company on 30 September 2009 and approved at the subsequent EGM held on 16 |
| October 2009. The change in jurisdiction requires the Company's ordinary |
| shares to be simultaneously cancelled and readmitted to AIM upon such |
| change taking effect. |
| Consent of the Guernsey Financial Services Commission in relation to the |
| migration was received on 30 November 2009. Removal of the Company from |
| the Register of Companies in Guernsey and the issuance of the certificate |
| of continuance to the Company by the Registrar of Companies in Jersey and |
| issuance of requisite consent under Article 2 of the Control of Borrowing |
| (Jersey) Order 1958 is expected to occur on 5 January 2010. |
| |
+----------------------------------------------------------------------------+
| DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO |
| TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, |
| nominal value and issue price to which it seeks admission and the number |
| and type to be held as treasury shares): |
+----------------------------------------------------------------------------+
| 103,251,014 ordinary shares of 10 pence nominal value to be admitted on 6 |
| January 2010 at the closing price of the shares as at 5 January 2010. |
| There will be no shares held in treasury. |
| There are no restrictions on the free transferability of the ordinary |
| shares to be admitted. |
| |
+----------------------------------------------------------------------------+
| CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET |
| CAPITALISATION ON ADMISSION: |
+----------------------------------------------------------------------------+
| No capital will be raised on Admission. |
| On Admission the market capitalisation of the Company will be 103,251,014 |
| times the closing price of the ordinary shares on 5 January 2010. |
| |
+----------------------------------------------------------------------------+
| PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
+----------------------------------------------------------------------------+
| 45.4% as at 12 October 2009 |
| |
+----------------------------------------------------------------------------+
| DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM |
| SECURITIES HAS APPLIED TO OR AGREED TO HAVE ANY OF ITS SECURITIES |
| (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: |
+----------------------------------------------------------------------------+
| The securities are only being admitted to AIM |
| |
+----------------------------------------------------------------------------+
| FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining |
| the first name by which each is known or including any other name by which |
| each is known): |
+----------------------------------------------------------------------------+
| Andrew Whalley (Chief Executive Officer) |
| David Crockford (Group Financial Director) |
| Michael Liston OBE (Non-Executive Chairman) |
| Dr Malcolm Kennedy CBE (Non-Executive Director) |
| Nigel Syvret (Non-Executive Director) |
| Nigel Le Quesne (Non-Executive Director) |
| |
+----------------------------------------------------------------------------+
| FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A |
| PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION |
| (underlining the first name by which each is known or including any other |
| name by which each is known): |
+----------------------------------------------------------------------------+
| The Company is aware of the following significant shareholders (pre and |
| post Admission): |
| Utilico Investments 18.7% |
| Henderson Global Investors 16.5% |
| Artemis Investment Management 10.4% |
| Fidelity Investments 9.6% |
| Aviva Investors 7.6% |
| Rathbones 3.1% |
| |
+----------------------------------------------------------------------------+
| NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, |
| PARAGRAPH (H) OF THE AIM RULES: |
+----------------------------------------------------------------------------+
| NA |
| |
+----------------------------------------------------------------------------+
| * ANTICIPATED ACCOUNTING REFERENCE DATE * |
| DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS |
| BEEN PREPARED (this may be represented by unaudited interim financial |
| information)* |
| DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM |
| RULES 18 AND 19: |
+----------------------------------------------------------------------------+
| (i) 30 June |
| (ii)Last accounts were prepared to 30 |
| June 2009. No admission document |
| required. * |
| 31 March 2010 (half-yearly report) |
| 31 December 2010 (annual report and |
| accounts) |
| 31 March 2011 (half-yearly report) |
| |
+----------------------------------------------------------------------------+
| EXPECTED ADMISSION DATE: |
+----------------------------------------------------------------------------+
| 6 January 2010 |
| |
+----------------------------------------------------------------------------+
| NAME AND ADDRESS OF NOMINATED ADVISER: |
+----------------------------------------------------------------------------+
| Numis Securities Limited, The London Stock Exchange Building, 10 |
| Paternoster Square, London EC4M 7LT |
| |
+----------------------------------------------------------------------------+
| NAME AND ADDRESS OF BROKER: |
+----------------------------------------------------------------------------+
| Numis Securities Limited, The London Stock Exchange Building, 10 |
| Paternoster Square, London EC4M 7LT |
| |
+----------------------------------------------------------------------------+
| OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR |
| INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A |
| STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE |
| ADMISSION OF ITS SECURITIES: |
+----------------------------------------------------------------------------+
| N/A |
| |
+----------------------------------------------------------------------------+
| DATE OF NOTIFICATION: |
+----------------------------------------------------------------------------+
| 2 December 2009 |
| |
+----------------------------------------------------------------------------+
| NEW/ UPDATE: |
+----------------------------------------------------------------------------+
| New |
| |
+----------------------------------------------------------------------------+
| QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: |
+----------------------------------------------------------------------------+
| |
+----------------------------------------------------------------------------+
| THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S |
| SECURITIES HAVE BEEN TRADED: |
+----------------------------------------------------------------------------+
| AIM |
| |
+----------------------------------------------------------------------------+
| THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED: |
+----------------------------------------------------------------------------+
| 16 May 2005 |
| |
+----------------------------------------------------------------------------+
| CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS |
| ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS |
| SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN |
| ANY BREACH: |
+----------------------------------------------------------------------------+
| Following due and careful enquiry, the Company can confirm that it has |
| adhered to any legal and regulatory requirements involved in having its |
| securities traded upon AIM. |
| |
+----------------------------------------------------------------------------+
| AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH |
| THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF |
| HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE: |
+----------------------------------------------------------------------------+
| http://www.renewableenergygeneration.co.uk |
| |
+----------------------------------------------------------------------------+
| DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE |
| CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY: |
+----------------------------------------------------------------------------+
| The Company's strategy is to continue focusing on its existing activities |
| of developing, owning and operating wind farms, predominantly in the UK, |
| and generating power from refined used vegetable cooking oil. |
| |
+----------------------------------------------------------------------------+
| A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION |
| OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL |
| PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED: |
+----------------------------------------------------------------------------+
| There has been no significant change in the financial or trading position |
| of the Company, which has occurred since the end of the last financial |
| period for which audited statements have been published. |
| |
+----------------------------------------------------------------------------+
| A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE |
| THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT |
| FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION: |
+----------------------------------------------------------------------------+
| The directors confirm that they have no reason to believe that the working |
| capital available to the Company and its subsidiaries will be insufficient |
| for at least 12 months from the date of its admission. |
| |
+----------------------------------------------------------------------------+
| DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES: |
+----------------------------------------------------------------------------+
| None. |
| |
+----------------------------------------------------------------------------+
| A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S |
| SECURITIES: |
+----------------------------------------------------------------------------+
| With effect from Admission the Company's registrars will be Capita |
| Registrars (Jersey), 12 Castle Street, St Helier, Jersey, JE2 3RT. |
| Application will be made for the Company's shares to be settled through |
| the CREST settlement system. Settlement may therefore be made |
| electronically through CREST or by way of paper settlement. |
| |
+----------------------------------------------------------------------------+
| A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S |
| SECURITIES: |
+----------------------------------------------------------------------------+
| The information is contained within the circular to shareholders dated 30 |
| September 2009 at http://www.renewableenergygeneration.co.uk |
| |
+----------------------------------------------------------------------------+
| INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS |
| NOT CURRENTLY PUBLIC: |
+----------------------------------------------------------------------------+
| There is no in information equivalent to that required for an admission |
| document which is not currently public. |
| |
+----------------------------------------------------------------------------+
| A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL |
| REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN |
| NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE |
| ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS |
| PERMISSIBLE UNDER AIM RULE 19: |
+----------------------------------------------------------------------------+
| Please see the investor relations section of the company's website at |
| http://www.renewableenergygeneration.co.uk for a link to the annual report |
| and accounts for the year ended 30 June 2009. |
| |
+----------------------------------------------------------------------------+
| THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY: |
+----------------------------------------------------------------------------+
| None of the company's shares will be held in treasury. |
+----------------------------------------------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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