Sch 1 - Renewable Energy Generation Limited

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.