In a unique collaboration with Canada’s leading mining investment bank Red Cloud Securities, we bring you 4 amazing speakers. Canadian-listed Consolidated Uranium have 13 projects across 4 countries. Canadian-listed E3 lithium are developing lithium from brine in Canada. Sigma Lithium Corp are developing potentially the world’s 4th largest lithium mine in Brazil. And David Talbot, top mining analyst at Red Cloud talks us through the metal supercycles. Please register here.  

Less Ads, More Data, More Tools Register for FREE

Smart Metering raises £175m in placing to fund growth opportunities

Tue, 14th Sep 2021 07:54

(Sharecast News) - Smart Metering Systems said on Tuesday that it has raised gross proceeds of £175m in a placing to fund "significant growth opportunities".
The company placed just over 19.4m shares at 900p each.

In a statement announcing the placing late on Monday, non-executive chairman Miriam Greenwood said: "Our contracted smart meter order pipeline and pipeline of grid-scale battery projects represent significant growth opportunities for SMS, as the group continues to enable the UK's transition to a low carbon energy economy. This next stage of SMS' growth is expected to deliver attractive returns to our shareholders.

"Our recently increased £420m debt facility demonstrates the significant support for our business model, and together with internally generated cash and this proposed fundraising, will enable SMS to invest in the substantial identified growth opportunities ahead and drive long term shareholder value."

At 1050 BST, the shares were down 15% at 868.00p.

Related Shares

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.