Result of GM
06 Enero 2010 - 10:27AM
UK Regulatory
TIDMCWP
RNS Number : 1483F
Clipper Windpower Plc
06 January 2010
6 January 2010
Clipper Windpower Plc
Clipper Windpower Plc ("Clipper" or the "Company") announced today that its
shareholders approved the special resolution to effect the issuance of new
shares of Clipper proposed at the general meeting of the Company held earlier
today. Details of the resolution were set out in the circular to shareholders
dated 10 December 2009 (the "Circular").
The passing of the resolution will, subject to the satisfaction of the remaining
conditions referred to in the Circular, enable the Company to effect the
proposed subscription (the "Subscription") by United Technologies Corporation
for 84,337,124 new ordinary shares in Clipper (the "Subscription Shares") at a
subscription price of GBP1.50 per share, as described in the Circular.
Completion of the Subscription will raise gross proceeds of GBP126,505,686
(US$206,204,268) for the Company.
Clipper anticipates that the proceeds from the Subscription will enable the
Company to significantly strengthen its balance sheet and fund its ongoing
working capital requirements to support growth in its core wind turbine
business.
The Subscription Shares will represent approximately 39.3 per cent. of the
issued share capital of the Company, as enlarged by the Subscription, and,
subject to the satisfaction or waiver of the remaining conditions to the
Subscription, admission of the Subscription Shares to trading on AIM is expected
to occur at 8.00 a.m. GMT on 12 January 2010.
Contacts
Investors:
Clipper Windpower Plc
Jenny Matthews
Investor Relations
Tel: +44 207 840 9581
J.P. Morgan Cazenove (Nominated Adviser and Corporate Broker to Clipper)
Patrick Magee
Alex Yule-Smith
Tel: +44 (0)20 7588 2828
Financial Press:
M:Communications
Patrick d'Ancona / Charlotte Kirkham
Tel: +44 (0)20 7920 2331
This information is provided by RNS
The company news service from the London Stock Exchange
END
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