Esyasoft makes indicative proposal for Good Energy, shares surges

LONDON - Good Energy Group PLC, a UK-based renewable energy company, has received an unsolicited proposal from Esyasoft Holding Limited regarding a potential acquisition of the company. The proposal, which came to light on Monday, is for the entire issued and to be issued share capital of Good Energy.

Shares of Good Energy Group jumped on the news, last trading up 27%.

The Board of Good Energy is currently reviewing the non-binding offer with its financial and legal advisors. As of now, there is no certainty that a formal offer will be made by Esyasoft or what the terms of any offer would be. The company has stated that it will make further announcements when appropriate.

Esyasoft, under the rules of the City Code on Takeovers and Mergers, has until 5:00 p.m. on November 25, 2024, to either declare its intention to make a definitive offer in line with Rule 2.7 or to state that it will not pursue an offer, as per Rule 2.8. This deadline may be extended only with the approval of the Takeover Panel, in accordance with Rule 2.6(c).

Investors and stakeholders are advised to remain aware that the possible offer is at a preliminary stage and may not result in a transaction. The information regarding this potential acquisition is based on a press release statement from Good Energy.

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Source: Investing.com