TPI provides its latest research note on eEnergy Group plc (EAAS.L).

eEnergy has announced its acquisition of Renewable Solutions Lighting Limited (‘RSL’), a specialist in providing the UK education sector with fully funded LED lighting solutions.

The total consideration for the acquisition, assuming all earn-out payments are made, is £2.2 million, which is to be paid to the existing shareholders of RSL entirely in new eEnergy shares issued at a 27.7% premium to yesterday’s closing price.

This follows yesterday’s Trading Update which detailed unaudited revenues for the Group’s changed financial year to end-June 2020, including a resilient quarterly performance during the lockdown.

Read More eEnergyGroupplc__Research_update__1_7_2020__FINAL_BGv3.pdf

We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to eEnergy Group plc. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2019 Turner Pope Investments (TPI) Limited, all rights reserved.

eaas - TPI provides its latest research note on eEnergy Group plc (EAAS.L).
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