Last checked at 6 Nov 2017 13:33
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For immediate release
6 November 2017
INTERENERGY HOLDINGS
No intention to make an offer for Rurelec PLC
On 11 October 2017, Rurelec PLC ("Rurelec") issued an announcement (the "Rurelec Announcement") referring to a company named "IEH Limited" as being party to a consortium led by Peter Earl (former CEO of Rurelec) regarding a possible offer for the entire issued and to be issued share capital of Rurelec.
By way of background, InterEnergy was approached by Mr Peter Earl with a proposal that InterEnergy provide loan finance for an offer for Rurelec which Mr Earl was considering. Given this background, InterEnergy understands that the reference to "IEH Limited" in the Rurelec Announcement should be interpreted as a reference to InterEnergy. At the time of the Rurelec Announcement, InterEnergy had been conducting some initial analysis of this proposal and, as a result, was not ready to proceed.
InterEnergy hereby confirms that it has no intention to make an offer for Rurelec, either alone or as part of a consortium.
This announcement is made in accordance with Rule 2.8 of the City Code on Takeovers and Mergers ("Code"). As a result of this announcement, InterEnergy will, except with the consent of the Panel, be bound by the restrictions contained in Rule 2.8 of the Code.
This announcement, and the restrictions referred to in Rule 2.8 of the Code resulting from this announcement, do not apply to Mr Peter Earl.
Enquiries:
InterEnergy Holdings info@interenergy.com
Felipe Marcia
About InterEnergy Holdings
InterEnergy Holdings owns and operates power generation and distribution assets in Latin America and the Caribbean. The company owns assets in the Dominican Republic, Panama, Chile and Jamaica, comprising of over 1,000 MW of available capacity.