21st Dec 2006 13:20
Renewable Energy Generation Ltd21 December 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA ORJAPAN. RENEWABLE ENERGY GENERATION LIMITED EXERCISE OF OVER-ALLOTMENT OPTION IN RELATION TO PLACING 21 December 2006 Renewable Energy Generation Limited (the "Company") announces that, inconnection with its placing of 41.5 million new ordinary shares on AIM which wasannounced on 7 December 2006 (the "Placing"), Merrill Lynch International, asstabilising manager to the Placing, has exercised the over-allotment option inrespect of 2,955,293 ordinary shares in the Company (the "Over-AllotmentShares"). The Over-Allotment Shares have been issued at the offer price of 103 pence perOver-Allotment Share (the "Over-Allotment Offer Price"), raising additionalgross proceeds for the Company of approximately £3 million. Including the exercise of the over-allotment option, the total size of thePlacing was approximately £46 million (44,455,293 ordinary shares, in totalrepresenting 76% per cent. of the 58,645,721 ordinary shares of the Company inissue prior to the Placing). The total number of ordinary shares of the Company in issue is, as at the dateof this announcement, 103,101,014. Enquiries: Renewable Energy Generation Limited Andrew Whalley +44 (0)1483 400 444 Merrill Lynch International Richard Nourse +44 (0) 20 7628 1000 Andrew Tusa +44 (0) 20 7628 1000 ENDS This announcement has been prepared by and is the sole responsibility of theCompany. This announcement is being distributed only to, and is directed only at, persons(all such persons being referred to as "relevant persons"): (i) who haveprofessional experience in matters relating to investments falling withinArticle 19(5) of the Financial Services and Markets Act 2000 (FinancialPromotion) Order 2005, as amended (the "Order"); (ii) falling within Article 49(2) (a) to (d) of the Order; or (iii) to whom it may otherwise lawfully bedistributed. This announcement must not be acted on or relied on in the UnitedKingdom by persons who are not relevant persons. In addition, if and to theextent that this announcement is communicated in, or the securities to which itrelates are offered in, any Relevant Member State (as defined below), thisannouncement and the Placing must only be addressed to and directed at personsin that Relevant Member State who are "Qualified Investors" within the meaningof Article 2(1) (e) of the Prospectus Directive (as defined below) ("QualifiedInvestors") and must not be acted on or relied on by other persons in thatRelevant Member State. Any person in the European Economic Area ("EEA") who acquires any of the offeredsecurities (an "investor") or to whom any offer of the securities is made willbe deemed to have represented and agreed that it is a Qualified Investor. Anyinvestor will also be deemed to have represented and agreed that any securitiesacquired by it in the Placing have not been acquired on behalf of persons in theEEA other than Qualified Investors or persons in the UK and other member states(where equivalent legislation exists) for whom the investor has authority tomake decisions on a wholly discretionary basis, nor have the securities beenacquired with a view to their offer or resale in the EEA to persons where thiswould result in a requirement for the publication by the Company or MerrillLynch of a prospectus pursuant to Article 3 of the Prospectus Directive. TheCompany and Merrill Lynch and any of their respective affiliates, and otherswill rely upon the truth and accuracy of the foregoing representations andagreements. No ordinary shares have been offered or sold, or will be offered or sold, to thepublic in any member state of the EEA which has implemented Directive 2003/71/EC(together with any applicable implementing measures in such member state, the"Prospectus Directive") (each, a "Relevant Member State"), with effect from andincluding the date on which the Prospectus Directive is implemented in thatRelevant Member State (the "Relevant Implementation Date") except (with effectfrom and including the Relevant Implementation Date): (a) to legal entitieswhich are authorised or regulated to operate in the financial markets or, if notso authorised or regulated, whose corporate purpose is solely to invest insecurities; (b) to any legal entity which has two or more of (i) an average ofat least 250 employees during the last financial year; (ii) a total balancesheet of more than €43,000,000; and (iii) an annual net turnover of more than€50,000,000, as shown in its last annual or consolidated accounts; (c) to fewerthan 100 natural or legal persons (other than qualified investors as defined inthe Prospectus Directive) subject to obtaining the prior consent of MerrillLynch; or (d) in any other circumstances which do not require the publication bythe Company of a prospectus pursuant to Article 3 of the Prospectus Directive. This announcement does not constitute or form part of an offer to sell, or thesolicitation of an offer to subscribe for, any securities in the Company to anyperson in the United States or in any jurisdiction to whom or in which suchoffer or solicitation is unlawful. None of the securities described herein hasbeen or will be registered under the US Securities Act of 1933 (as amended) (the"Securities Act") or under the securities laws or with any securities regulatoryauthority of any state or other jurisdiction of the United States nor will theybe registered under the applicable securities laws of Australia, Canada, theRepublic of Ireland, the Republic of South Africa or Japan. The securitiesdescribed herein may not be offered or sold within the United States or to, orfor the account or benefit of, US persons (as defined in Regulation S under theSecurities Act ("Regulation S")). Merrill Lynch and its respective affiliatesmay arrange for the offer and sale of ordinary shares in offshore transactionsmeeting the requirements of Regulation S. This announcement must not bedistributed to or sent to or into the United States, Australia, Canada, theRepublic of Ireland, the Republic of South Africa or Japan or to or by anynational, resident or citizen of such countries. The distribution of thisannouncement in certain jurisdictions may be restricted by law and thereforepersons into whose possession this announcement comes should inform themselvesabout and observe any such restrictions. Merrill Lynch International of Merrill Lynch Financial Centre, 2 King EdwardStreet, London EC1A 1HQ ("Merrill Lynch"), which is authorised and regulated bythe Financial Services Authority, is acting for the Company in connection withthe Placing, and for no-one else and will not be responsible to anyone otherthan the Company for providing the protections afforded to clients of MerrillLynch or for providing advice in relation to the Placing, the contents of thisannouncement or any matters referred to herein. This announcement does not constitute a recommendation concerning the Placing.The value of shares can go down as well as up. Past performance is not a guideto future performance. If you are in any doubt about the contents of thisannouncement, or the action you should take, you should immediately consult anindependent financial adviser authorised under the Financial Services andMarkets Act 2000 who specialises in advising on the acquisition of shares andother securities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WIND.L