Photon Energy Starts Process to Offer Existing Shares

Source: www.gulfoilandgas.com 6/16/2021, Location: Europe

Photon Energy N.V., an Amsterdam-based renewable energy company delivering clean energy and water solutions around the world, has announced the launch of the offering of existing shares mainly to qualified investors. As part of the transaction, up to 11,742,688 existing shares, constituting a total 19.57% of the Company’s share capital, will be offered, which include:

- up to 7,000,000 existing treasury shares for the purpose of earmarking the proceeds for the implementation of the development strategy

- up to 1,142,688 existing treasury shares for the purpose of financing the purchase of shares from employees

- up to 3,600,000 existing shares held by the company's two main shareholders, Solar Future Coöperatief and Solar Power U.A. to the People Coöperatief U.A.

By 2024, the Company intends to expand its proprietary PV power plant portfolio from 74.7 MWp to at least 600 MWp of installed capacity in operation. It will also control a PV project pipeline of 1.5 GWp and grow its operations and maintenance (O&M) portfolio to 1.0 GWp from the current total of 300 MWp.

As a result of an accelerated growth of the business, the management board expects the 2024 EBITDA to grow by approximately five-fold from 2020 figures.

IPOPEMA Securities is acting as the global coordinator and bookrunner in the offering.

‘In order to secure the required funding for the implementation of the Group’s strategy, the management board intends to offer up to 7 million of its existing treasury shares. The proceeds from the sale of the existing treasury shares will be used primarily to invest in the development of new projects, as well as the construction of projects brought to the ready-to-build stage,’ said Georg Hotar, CEO of Photon Energy.


Australia >>  7/21/2021 - NSW businesses and manufacturers face a significant competitive disadvantage because their gas has to be imported from other states.

Accord...

Brazil >>  7/21/2021 - Petrobras, following up on the release disclosed on June 15, 2021, informs that it signed, together with Fundação Petrobras e Seguridade Social (Petro...

Australia >>  7/20/2021 - Warrego Energy Limited notes today’s ASX announcement by Strike Energy Limited (“Strike”) that it has acquired 8.16% of the listed securities of Warre...
Mongolia >>  7/19/2021 - Petro Matad Limited (Matad) ("Petro Matad"), t he AIM quoted Mongolian oil company , is pleased to announce the launch of an Open Offer to raise up to...

Nigeria >>  7/19/2021 - Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces...
Bermuda >>  7/16/2021 - Teekay GP LLC, the general partner of Teekay LNG Partners L.P., has declared a cash distribution of $0.2875 per common unit for the quarter ended June...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.