European Green Transition, a company focused on acquiring, integrating and optimising revenue-generating and profitable services businesses in the critical infrastructure sector, announces a proposed fundraise to raise gross proceeds of approximately £7.5 million before expenses by the issue of new ordinary shares of 0.25 pence each in the Company (“Ordinary Shares”) at a price of 6 pence per Ordinary Share (the “Issue Price”) via a placing and subscription. The Fundraise of approximately £7.5 million includes the conversion of £1.5 million into new Ordinary Shares at the Issue Price pursuant to the Bridge Facilities (Facility 1) as further set out in this Announcement.
The Issue Price represents a discount of approximately 7.7%. to the closing price per ordinary share of 6.5 pence on 10 March 2026, being the last Business Day prior to this announcement.
The following sets out the background to, and the reasons for, the Fundraise and explains why the Directors consider the Fundraise to be in the best interests of the Company and its Shareholders as a whole.
Transaction Highlights
- Further to the Company’s announcement on 25 February 2026 where it announced, amongst other things, the acquisition of an established, EBITDA profitable onshore wind turbine operating, maintenance, repairing, and remote monitoring business (the “O&M Business”) in the UK and Ireland (the “Acquisition”) and its intention to launch a placing to raise approximately £5 million, the Company has upscaled its fundraise intention due to investor demand to raise gross proceeds of c.£7.5 million.
- OAK Securities is acting as broker and sole bookrunner in relation to the Placing.
- The net proceeds of the Fundraise are to be used to:
- repay the short-term Bridge Facilities of £1.5 million; with the remaining £1.5 million (Facility 1) automatically converting to equity as part of the Fundraise at the Issue Price;
- strengthen the balance sheet of the enlarged group;
- support the continued development and growth of the O&M Business, including the delivery of the repowering pipeline and projected growth initiatives; and
- pursue selective strategic bolt-on acquisitions to support expansion of services across the critical infrastructure sector in the UK, Ireland, and Europe, such as water, energy, roads, and data centres funded through operating cash flows.
- Cathal Friel, Co-founder and Executive Chair of the Company, has indicated his intention to participate in the Subscription via Raglan Road Capital Limited (“Raglan Capital”).
- The Fundraise is conditional upon, amongst other things, the resolutions required to implement the Fundraise being duly passed by Shareholders at the General Meeting.
- The Company intends to publish and send a circular (“the Circular”) to Shareholders on or around 13 March 2026, which will contain the Notice of General Meeting proposing the Resolutions. The Circular will also be available on the Company’s website.
- Further details are set out in Appendix I of this Announcement, which contains an extract from the Circular to be published in due course, and which includes details of the Fundraise and a Related Party Transaction.
