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The placing is being conducted through an accelerated bookbuild process. Shore Capital Stockbrokers Ltd is acting as sole bookrunner in connection with the capital raise.
The company said the price per placing share will not be not be less than
Placing proceeds will be used to support the collateral required for the company's letters of credit that supports the its energy hedging policy. It will also be used to invest in the company's infrastructure and for general working capital purposes.
Shares in the company closed down 13% at 1,053.00p on Tuesday.
