eEnergy Group Regulatory News (EAAS)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF EENERGY GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

THE SECURITIES TO WHICH THIS ANNOUNCEMENT RELATE HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM, OR A TRANSACTION NOT SUBJECT TO, REGISTRATION UNDER THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES.

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION ("MAR"). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

15 September 2021

eEnergy Group plc

("eEnergy", "Company" or "the Group")

Result of Placing

The Board of eEnergy Group plc (AIM: EAAS), a leading "Energy Efficiency-as-a-Service" (EEaaS) business in the UK and Ireland, is pleased to confirm that, further to the announcement earlier today, the bookbuilding process has now closed (the "Placing") and the Company has raised gross proceeds of £12 million through the Placing of 80,000,000 new ordinary shares of 0.3 pence each (the "Placing Shares") at a price of 15 pence per share (the "Placing Price"). The Placing Price represents a discount of 14.3% to the closing mid-market price of 17.5 pence per share on 14 September 2021.

The net proceeds of the Placing will be used to fund the acquisition of UtilityTeam TopCo Limited and 5% of the issued share capital of UtilityTeam Trading Limited not currently owned by UtilityTeam Topco Limited) ("together UtilityTeam") and for general working capital.

On completion of the acquisition of UtilityTeam, expected on Friday 17 September 2021, a further 18,031,250 ordinary shares will be issued alongside the Placing Shares (the "Consideration Shares") as part of the total consideration for the acquisition of UtilityTeam.

Application has been made to the London Stock Exchange for the 18,031,250 Consideration Shares and 80,000,000 Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place at 8.00 a.m. on 17 September 2021 (or such date as may be agreed between the Company and the Joint Bookrunners). The Placing is conditional, inter alia, upon Admission becoming effective.

The Placing Shares and Consideration Shares, once issued, will together represent approximately 28.5% of the enlarged share capital of the Company. The Placing Shares and Consideration Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid after the date of issue of the Placing Shares.

Total Voting Rights

Following Admission of the Placing Shares and Consideration Shares, the total number of ordinary shares and voting rights in the Company will be 344,289,340.

The above figure of 344,289,340 may 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 FCA's Disclosure Guidance and Transparency Rules.

Contacts: