Update on Corporate Activity (5046H)
31 Mayo 2011 - 1:01AM
UK Regulatory
TIDMIEL
RNS Number : 5046H
Indian Energy Limited
31 May 2011
Indian Energy Limited
("Indian Energy" or the "Company")
Update on Corporate Activity
The Board of IEL wishes to update the market following the
announcement of 1 April 2011. As stated in the Pre-Close Statement,
the Company has received a number of approaches and has been
actively pursuing these. The Board is pleased to announce that it
has now entered in to a period of exclusivity with one party which
may or may not lead to an offer for the Company. If an offer is
made, it is likely to be at a premium to the current share
price.
Enquiries:
Indian Energy Rupert Strachwitz +44 20 3411 3640
Shantanu Bagchi +91 22 4208 6666
Arden Partners Chris Hardie +44 20 7614 5917
NOMAD & Broker
Pelham Bell Pottinger Archie Berens +44 20 7861 3112
Financial PR
Notes to Editors:
Indian Energy is an independent power producer, focused on
acquiring, building and operating wind farms in India. The Group
currently owns and operates two wind farms: a 24.8 MW wind farm at
Gadag Plains, near Hubli in Karnataka and a 16.5 MW wind farm at
Theni in Tamil Nadu. Indian Energy's medium term objective is to
own a portfolio of wind farms in India with 300 MW of annual
generating capacity by Q1 2013. Wind power is India's primary
source of renewable power (excluding large hydro) and is set to
remain an important power source for the country.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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