31st Aug 2005 07:00
Renewable Energy Holdings plc31 August 2005 Renewable Energy Holdings plc Fundraising Renewable Energy Holdings plc ("REH" or the "Company"), the AIM listed investorin proven and innovative renewable energy technologies, today announces that itis to raise £2.5 million before expenses by a placing of 4,166,667 new ordinaryshares (the "Placing Shares") at 60p per ordinary share (the "Placing Price"). The Company intends to use part or all of the proceeds of the placing to assistwith the progressing of future deals including the acquisition of wind farms inNorthwest Ireland and landfill gas projects in Wales. Corporate Synergy Plc, as agent for the Company, has placed the Placing Sharesat the Placing Price with investors, subject to the Placing Shares beingadmitted to trading on AIM. The Placing Price represents a discount of 4 percent. to the closing mid market price of 62.5p on AIM as at 30 August 2005, thedate prior to the publication of this announcement. The Placing Shares will,when issued and fully paid, rank pari passu in all respects with the existingissued ordinary shares of the Company. Application has been made for the Placing Shares to be admitted to trading onAIM and trading in the Placing Shares is expected to commence on 2 September2005. Renewable Energy Holdings plc Binns & Co PR Ltd Corporate Synergy PlcMike Proffitt, Chief Executive Paul McManus John Prior Tel: 020 7153 1485Tel: 01624 64 11 99 Mob: 07980 541 893 Tel: 020 7448 4400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
REH.L