Print   



22 May 2009

Kedco plc

('Kedco' or the 'Company')

Placing

Kedco, the Irish-based energy group focusing on green-energy production in the UK and Ireland, is pleased to announce that it has raised €0.3 million (before expenses) from a variety of investors (the 'Placing'). The proceeds from the Placing will be used by Kedco to develop identified opportunities for joint ventures.

 

Pursuant to the Placing, an application has been made for the admission of a further 1,565,761 new ordinary shares to trading on AIM (the 'Placing Shares'). The Placing Shares, which will be issued fully paid, will rank pari passu in all respects with the existing ordinary shares of the Company. Placees for each of the Placing Shares will also receive a warrant to subscribe for one new ordinary share at a price of 29 cents exercisable at any time during the two year period of issue.

Admission of the Placing Shares to trading on AIM is expected to occur on 28 May 2009. 

As a result of the issue, the total number of voting rights as at 28 May 2009 will increase to 207,462,614. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the FSA's Disclosure and Transparency Rules.

Donal Buckley, Chief Executive said:

'We are pleased with our continuing ability to raise funds in the current economic environment from an investor base which understands our business model and shares our ambition. These new funds will be used as capital for the next phase of our development programme. We look forward to updating the market with our progress in due course.'

- Ends -

For additional information please contact:

Financial Dynamics - London                          +44 (0)20 7831 3113

Matt Dixon / Edward Westropp / Alex Beagley

Deloitte Corporate Finance - Nomad               +44 (0)20 7936 3000

Jonathan Hinton / David Smith

Lewis Charles Securities                                 +44 (0)20 7456 9100

Kealan Doyle / Nicholas Nicolaides

ENDIOEBUGDUUUDGGCB