REH.L Regulatory News (REH)

28 September 2011

Renewable Energy Holdings plc

("REH" or the "Company")

Extension of maturity date and amendment to convertible loan agreement

Renewable Energy Holdings plc (AIM: REH) announces that its major shareholder, Utilico Limited ("Utilico"), agreed yesterday to amend the terms of the convertible loan made available to the Company, as announced by REH on 31 July 2009, amounting to £2.5 million (the "Utilico Loan"). The Utilico Loan now has a new maturity date of 31 July 2013 (previously 31 July 2011).

In addition, the Company has agreed to pay Utilico a renewal fee of £50,000 and a commitment fee for the provision of the Utilico Loan ("Commitment Fee"). The Commitment Fee shall accrue on the balance of the Utilco Loan, currently £2.5 million, at a fixed rate of 2.5 per cent. per annum between 1 August 2011 and 31 July 2012, to be increased to 5.0 per cent. per annum between 1 August 2012 and 31 July 2013, and will be payable in arrears. The Utilico Loan, as now amended, can be repaid by the Company, in whole or in part, at any time without penalty.

The interest rate on the Utilico Loan remains at 10 per cent. per annum and the loan is convertible at the option of Utilico, in whole or in part, into 8,264,463 new ordinary shares of one pence each in the Company at any time before 31 July 2013.

As Utilico is a substantial shareholder in the Company, the modifications to the Utilico Loan are classified as a related party transaction in accordance with the AIM Rules.

Accordingly, the directors of the Company (other than James Smith, who is a nominee of Utilico), having consulted with Strand Hanson Limited ("Strand Hanson"), the Company's nominated adviser, consider the amendments to the Utilico Loan to be fair and reasonable insofar as the Company's shareholders are concerned. In providing its advice, Strand Hanson has taken into account the independent directors' commercial assessments.

Ends

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