eEnergy Group Announces Contract with Utility Data Intelligence Limited

Source: www.gulfoilandgas.com 12/8/2023, Location: Europe

eEnergy, the net zero energy services provider, announces that it has entered into a new contract with Utility Data Intelligence Limited ("UDI") for the provision of Bureau Services (the "Contract"). UDI has been a supplier to Beond Group Limited ("Beond") (acquired by eEnergy in December 2020), since 2014 providing such services.

The new Contract will expand the relationship between UDI and eEnergy and has an estimated annual value of 240,000. Under the terms of this new Contract, UDI will provide the following services to eEnergy:

- Utility bill cost & consumption auditing;
- Utility cost simulation & budget management; and
- Utility bill issue resolution.

Related Party Transaction
Gary Worby, Non-Executive Director of eEnergy, is Executive Chairman of and a 23.5% shareholder in UDI. Entering into the Contract is deemed to constitute a related party transaction under Rule 13 of the AIM Rules for Companies. Accordingly, all Directors, with the exception of Gary Worby, are considered to be independent of the Contract and consider, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the terms of Contract are fair and reasonable insofar as the shareholders of eEnergy are concerned.


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