22nd Oct 2009 07:00
Press Release 22 October 2009
Renewable Energy Generation Limited
("REG" or the "Company")
Completion of Disposal of AIM PowerGen Corporation
Renewable Energy Generation Limited (AIM: RWE) announces that, further to the announcement made on 30 September 2009, it completed yesterday the sale of AIM PowerGen Corporation (REG's wholly owned Canadian subsidiary) to International Power Canada, Inc. (the "Sale"). Under rule 15 of the AIM Rules for Companies, the Sale was deemed to be a sale resulting in a fundamental change of business of REG and accordingly the Sale was conditional, inter alia, on approval by the shareholders of the Company ("Shareholders") of an ordinary resolution proposed at the extraordinary general meeting of the Company convened on 16 October 2009 for, amongst other things, that purpose (the "EGM").
As announced by the Company on 16 October 2009, this ordinary resolution was duly passed by Shareholders at the EGM and, as all other conditions to the Sale have now been satisfied, the Sale was completed today.
REG's preliminary results for the year ended 30 June 2009 will be announced on 19 November 2009.
Contacts:
Renewable Energy Generation Ltd Tel: 01483 901 790
Andrew Whalley, Chief Executive Officer
David Crockford, Finance Director
Lexicon Partners (Financial Adviser to REG) Tel: 020 7653 6000Read Gomm Hichem Zebidi
Numis Securities Ltd Tel: 020 7260 1000
Nominated Advisor: Simon Blank / Hugh Jonathan
Corporate Broker: David Poutney / Charlie Farquhar
Hogarth Partnership Ltd Tel: 020 7357 9477
Sarah MacLeod
Julian Walker
Vicky Watkins
Related Shares:
WIND.L