31 January 2007
Helius Energy plc, ("Helius" or "the Company") which was established to install and operate biomass fired renewable electricity generation plants, today announces the commencement of dealings in its Ordinary Shares on the Alternative Investment Market of the London Stock Exchange ("AIM") ("Admission") raising gross funds of #2.035 million via a placing to raise capital to implement its strategy and to enhance the Company's profile.
The Ordinary Shares will trade under the ticker code of HEGY and the ISIN is GB00B1GF9F36.
Placing price per Ordinary Share |
26p |
Number of Existing Ordinary Shares in issue prior to the Placing |
58,300,000 |
Number of Placing Shares being issued pursuant to the Placing |
7,826,929 |
Number of Deferred Consideration Shares |
760,770 |
Number of Ordinary Shares to be issued on conversion of the Loan Notes on the day after Admission |
2,307,705 |
Number of Ordinary Shares to be issued following Admission to General Capital Venture Finance Ltd pursuant to the Loan Agreement |
384,615 |
Percentage of the Enlarged Share Capital placed |
11.3 per cent. |
Amount raised by placing (before expenses) |
#2.035 million |
The market capitalisation at the Placing Price |
#17.99 million |
Number of Ordinary Shares in issue following the conversion of Loan Notes |
69,580,019 |
Immediately following Admission the directors hold in aggregate 40,405,386 Ordinary Shares in Helius, representing 60.5 per cent. of the issued share capital of the Company.
Daniel Stewart & Company plc is the nominated adviser and broker.
Helius will initially focus on the UK and Southern Africa where it plans to install and operate a range of biomass energy plants supplied by leading international suppliers of thermal power generation and environmental engineering services.
The plants will burn an extensive range of biomass feedstock including residues from bio-ethanol production and other qualifying feedstock. Helius' strategy is to secure feedstock at an economically viable cost from a number of sources. These feedstocks are expected to qualify for Renewable Obligation Certificates under the UK OfGem legislation. Helius' plants will operate with low emissions, high availability and proven technology.
Helius holds a 3-year option to purchase the 36 hectare freehold Stallingborough site which is located on the south side of the Humber Estuary, 6km from the port of Immingham. The local grid capacity supports a new 65MW power station and the application for planning permission is at an advanced stage. The site also allows for the potential co-location of separate bio-ethanol and bio-diesel plants, which would produce biomass as by-products. It also holds an eighteen-month option to acquire a site at Seaton Port in Hartlepool, adjacent to an existing power plant on the north side of the Tees Estuary. Both sites are industrially-zoned and located adjacent to existing heavy industry and close to rail, road and deep-water port access as well as sources of co-products from agriculture, forestry, food, drink and road transport fuel processing industries.
Sites for the smaller 5MWe Greenswitch tm units, which have been developed by Helius under an exclusive agreement with Wartsila Oy, will be co-located with producers of suitable qualified biomass feedstock. These smaller plants provide an economic and environmentally efficient way of utilising residues at source without incurring transportation costs associated with wet biomass, offer reduced strategic spares cost and their modular nature means reduces the time taken for construction and implementation.
Alex Worrall, Non-Executive Chairman commenting on the listing said: "We look forward to listing on the London Stock Exchange, which we believe will further enhance our ability to take advantage of the exciting growth opportunities to develop Biomass as a sustainable source of renewable power".
John Seed, Managing Director, said: "The funds raised will assist us in developing the Stallingborough site, on the Humber Estuary where we expect to commence construction in the latter part of the year."
