VH Global Sustainable Energy Opportunities raises £122m which it hopes to commit within three to six months – VH Global Sustainable Energy Opportunities (GSEO) has successfully completed its Placing, Open Offer, Offer for Subscription and Intermediaries Offer, raising gross proceeds of £122m.
A total of 110,909,091 new shares will be issued at a price of 110 pence per share, of which 70,388,725 shares will be issued pursuant to the Open Offer, 2,307,719 shares will be issued pursuant to the Excess Application Facility, 10,865,507 shares will be issued pursuant to the Offer for Subscription, 1,867,895 shares will be issued pursuant to the Intermediaries Offer and 25,479,245 shares will be issued under the Placing.
The proceeds will be used to invest in a number of potential sustainable energy infrastructure investments that Victory Hill Capital Advisors has (i) secured for GSEO the exclusive right to negotiate with the owner to acquire, (ii) issued non-binding offers for GSEO to acquire, and/or (iii) is at an advanced stage of negotiation with the respective developers and/or other sustainable energy infrastructure investments which may become available to GSEO.
Victory Hill is confident that GSEO would be able to invest or commit substantially all of the net proceeds from the Initial Issue within three to six months following admission.
Statement from the chair:
“Since IPO in February 2021 we have successfully committed or deployed c.£290m across an attractive portfolio of 24 assets diversified by both technology and geography. This further capital commitment of £122m, from both new and existing shareholders, will support our future growth ambitions and takes our total capital raised to over £455m in less than 18 months. This is a great achievement in challenging market conditions and I would like to thank our existing investors for their continuing support and welcome those new investors to our shareholder register. Their investment provides a strong endorsement of our strategy and ability to deploy capital into appropriate projects quickly and effectively.
“The Company is well capitalised, and with its inflation linked revenue streams, is well positioned to navigate the current market volatility, deliver returns to shareholders and continue making a positive impact on the global energy transition.”
GSEO : VH Global Sustainable Energy Opportunities raises £122m which it hopes to commit within three to six months