1 Dec 2023 12:43
01 December 2023
Esken Limited
("Esken" or the "Group")
Completion of disposal of Esken Renewables
and repayment of amounts due under the Facilities Agreement
Esken announces that it has today completed the disposal of the entire issued share capital of Esken Renewables Limited to Pioneer Balmoral UK Limited, a vehicle fully owned and funded by the sustainable infrastructure fund, Pioneer Infrastructure Partners SCSp, managed by Pioneer Point Partners LLP.
Capitalised terms in this announcement have the meanings attributed to them in the Company's circular to shareholders dated 6 November 2023.
Completion of the Disposal follows satisfaction of the Cash Sweep Condition on 30 November 2023.
Following completion of the Disposal, Esken has also repaid the full monies borrowed under the Facilities Agreement and associated costs.
As detailed in the Group's interim results published on 29 November, Esken is making good progress in respect of addressing the maturity and terms of the Exchangeable Bond and towards the sale of its non-core assets. As such, Esken is continuing to progress the process to seek a new owner for LSA, with a view to crystallising shareholder value through securing the right long-term partner, who both recognises the inherent strategic opportunity and is best placed to support future growth.
Enquiries:
Esken Limited C/o Teneo
Teneo
Olivia Peters / Giles Kernick
020 7353 4200
esken@teneo.com
Publication on website
A copy of this announcement will be available for inspection on the Company's website at: www.esken.com. For the avoidance of doubt, the contents of this website are not incorporated into and do not form part of this announcement.