EAAS Eenergy Group Plc

TIDMEAAS

RNS Number : 1150W

eEnergy Group PLC

08 December 2023

8 December 2023

eEnergy Group plc

("eEnergy" or "the Group")

Contract with Utility Data Intelligence Limited

Related Party Transaction

eEnergy (AIM: EAAS), the net zero energy services provider, announces that it has entered into a new contract with Utility Data Intelligence Limited ("UDI") for the provision of Bureau Services (the "Contract"). UDI has been a supplier to Beond Group Limited ("Beond") (acquired by eEnergy in December 2020), since 2014 providing such services.

The new Contract will expand the relationship between UDI and eEnergy and has an estimated annual value of GBP240,000. Under the terms of this new Contract, UDI will provide the following services to eEnergy:

 
      -   Utility bill cost & consumption auditing; 
      -   Utility cost simulation & budget management; and 
      -   Utility bill issue resolution. 
 

Related Party Transaction

Gary Worby, Non-Executive Director of eEnergy, is Executive Chairman of and a 23.5% shareholder in UDI. Entering into the Contract is deemed to constitute a related party transaction under Rule 13 of the AIM Rules for Companies. Accordingly, all Directors, with the exception of Gary Worby, are considered to be independent of the Contract and consider, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the terms of Contract are fair and reasonable insofar as the shareholders of eEnergy are concerned.

Contacts:

 
 eEnergy Group plc                     Tel: +44 20 7078 9564 
 Harvey Sinclair, Chief Executive      info@eenergyplc.com ; www.eenergyplc.com 
  Officer 
  Crispin Goldsmith, Chief Financial 
  Officer 
 Strand Hanson Limited (Nominated      Tel: +44 20 7409 3494 
  Adviser) 
 Richard Johnson, James Harris 
 Canaccord Genuity Limited (Joint      Tel: +44 20 7523 8000 
  Broker) 
 Max Hartley, Tom Diehl (Corporate 
  Broking) 
 Turner Pope Investments (Joint        Tel: +44 20 3657 0050 
  Broker) 
 Andy Thacker, James Pope              info@turnerpope.com 
 
 Tavistock                             Tel: +44 207 920 3150 
 Jos Simson, Simon Hudson, Katie       eEnergy@tavistock.co.uk 
  Hopkins 
 

About eEnergy Group plc

eEnergy (AIM: EAAS) is a net zero energy services provider, empowering organisations to achieve net zero by tackling energy waste and transitioning to clean energy, without the need for upfront investment. It is making net zero possible and profitable for all organisations in four ways:

-- Transition to the lowest cost clean energy through the Group's digital procurement platform and energy management services.

-- Tackle energy waste with granular data and insight on energy use and dynamic energy management.

   --    Reduce energy use with the right energy efficiency solutions without upfront cost. 
   --    Reach net zero with onsite renewable generation and electric vehicle (EV) charging. 

eEnergy is a Top 5 B2B energy company and has been awarded The Green Economy Mark by London Stock Exchange.

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END

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