23 Feb 2018 07:00
23 February 2018
This announcement contains inside information
redT energy plc
("redT" or the "Company")
Holdings in Company
and Lock-in Agreement
redT energy plc (AIM:RED) announces that it was notified today that Alchemy Projects Limited ("Alchemy") is now interested in a total of 63,872,819 ordinary shares in the capital of the Company, representing approximately 9.77% per cent of the Company's issued share capital. Alchemy is wholly owned by the Company's former non-executive director John Ward.
Alongside this notification of interest, Alchemy and the Company have today signed a lock-in agreement (the "Agreement") in respect of Alchemy's holding of 63,872,819 ordinary shares (the "Locked-in Shares") under which Alchemy has undertaken not to dispose of any interest in the Locked-in Shares for a period of 12 months from the date of the Agreement.
Enquiries:
redT energy plc | +44 (0)207 061 6233 |
Scott McGregor, Chief Executive Officer | |
Joe Worthington, Investor & Media Relations | |
Cenkos Securities (Nominated Advisor & Broker) | +44 (0)131 220 9100 |
Derrick Lee | |
VSA Capital (Investor Relations Advisor) Andrew Monk |
+44 (0)203 005 5000 |
Celicourt Communications (Financial PR) Mark Antelme Jimmy Lea Ollie Mills | +44 (0)20 7520 9266 |
Notes to Editors
About redT energy
redT energy plc are experts in energy storage, specialising in the design, manufacture, installation and operation of energy storage systems which create revenue alongside reliable, low-cost renewable generation for businesses, industry and electricity distribution networks. Using patented vanadium redox flow technology to store energy in liquid, redT's own energy storage machines can be run continually with no degradation: charging and discharging for over 25 years, matching the lifespan of renewable assets in on-grid, off-grid and weak-grid settings.
redT's energy storage solutions, developed over the past 15 years, address today's changing energy market by providing a flexible platform for time shifting surplus renewable power, securing electricity supplies and earning revenue through grid services. The company has operating machines deployed with customers in the UK, Europe, sub-Saharan Africa, Australia and Asia Pacific. redT energy plc is listed on the London Stock Exchange (AIM:RED) and has offices in the UK, Africa and the USA. For more information, visit www.redTenergy.com
For sales, press or investor enquiries, please contact the redT team on +44 (0)207 061 6233.