Good Energy seeks admission to AIM

Renewable energy supplier Good Energy has announced at its AGM that it seeks admission to trading on AIM – the Alternative Investment Market which is a stock exchange for SMEs.

The resolution was passed as the company seeks investors to continue its growth as the UK’s only 100 percent renewable electricity supplier. Good Energy adds that it has ambitious plans to increase its existing 32,000 customer base by 25 percent per year for the next five years and build a portfolio of 110MW of new renewable capacity.

Chairman Rick Squires said: “While the Group has been listed on PLUS since 2004, the board is pleased to announce that it will be working with its advisers to seek admission to trading on AIM for the ordinary share capital of the group. This follows the continued development of the group and its operations as set out in the trading update issued on 25 June 2012, and the board’s belief of the increasing need to seek access to institutional investors to continue the growth of the Company as the UK’s only 100 percent renewable electricity supplier.

“No action is required from shareholders at this stage and they will be able to continue to trade their shares in the group per normal. The board will update shareholders of further developments as appropriate and in the normal fashion.”