11th Mar 2026 20:39
(Alliance News) - Earnz PLC on Wednesday announced plans to raise GBP4.0 million to help fund the GBP9.5 million acquisition of Zero Carbon Group Ltd.
The Cheltenham, England-based energy services company intends to raise GBP3.5 million via a placing and GBP500,000 by a retail offer at 5.0 pence per share.
The placing shares and retail offer shares represent around 33% of the company's enlarged share capital.
Proceeds of the placing will satisfy the initial cash consideration payable for ZCG and provide additional working capital for the enlarged group.
The GBP5 million initial consideration will be satisfied GBP3 million on completion, GBP1 million once ZCG achieves earnings before interest, tax, depreciation and amortisation of GBP500,000 and GBP1 million once ZCG achieves Ebitda of GBP1 million.
Deferred consideration of up to GBP4.5 million will be met 40% in consideration shares and 60% in cash.
ZCG operates across the North of England and the Midlands, using a network of longstanding contractors as well as in-house staff, delivering whole building solutions for the energy efficiency agenda, including insulation (external and internal), installation of air source heat pumps, solar panel installations and electric vehicle chargers through certified electricians.
Shares in Earnz closed up 1.0% at 5.30 pence each in London on Wednesday.
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Earnz Plc