RPL Renewable Power

 

TIDMRPL 
 
RNS Number : 0712H 
Renewable Power and Light Plc 
12 February 2010 
 

                          RENEWABLE POWER & LIGHT PLC 
 
                           Statement of Cash Position 
 
 
12 February 2010 
 
Renewable Power & Light plc (AIM: RPL) ('RPL' or 'the Company'), notes the 
recent movement in its share price.  On 28 January 2010, the Company posted a 
circular convening a meeting of shareholders to be held on 15 February 2010 for 
the purpose of seeking approval of certain related party transactions, including 
the disposal of the Company's US subsidiary RPL Holdings Inc., which were 
announced on 27 January 2010 (the "Related Party Transactions"). 
As at 31 January 2010, the unaudited cash position of the Company was 
approximately US$5 million (equivalent to approximately 3.59 pence per Ordinary 
Share(1)).  This cash position is stated prior to the impact of the proposed 
Related Party Transactions. 
Following completion of the Related Party Transactions, the Company expects to 
incur the normal operating costs of winding down its business in connection with 
its investing policy approved by shareholders on 19 August 2009. 
For further information, please contact: 
 
Renewable Power & Light plc   Michael Reynolds, Chairman      Telephone: +44 
(0)121 426 1777 
 
Grant Thornton UK LLP            Gerald Beaney 
Telephone:+44 (0)207 383 5100 
(Nominated Adviser) 
 
The directors of RPL accept responsibility for the information contained in this 
announcement. To the best of the knowledge and belief of the directors (who have 
taken all reasonable care to ensure that such is the case), the information 
contained in this announcement is in accordance with the facts and does not omit 
anything likely to affect its import. 
 
Note: 
 
(1) Value per share calculations are based on 88,764,646 Ordinary Shares being 
currently in issue by the Company and a US$ to Sterling exchange rate on 11 
February 2010 of 1.5691 (Source: Bloomberg). 
 
Dealing Disclosure Requirements 
 
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 
1% or more of any class of 'relevant securities' of RPL, all 'dealings' in any 
'relevant securities' of that company (including by means of an option in 
respect of, or a derivative referenced to, any such 'relevant securities') must 
be publicly disclosed by no later than 3.30pm (London time) on the London 
business day following the date of the relevant transaction. 
 
This requirement will continue until the date on which the offer becomes, or is 
declared, unconditional as to acceptances, lapses or is otherwise withdrawn or 
on which the 'offer period' otherwise ends. If two or more persons act together 
pursuant to an agreement or understanding, whether formal or informal, to 
acquire an 'interest' in 'relevant securities' of RPL, they will be deemed to be 
a single person for the purpose of Rule 8.3. Under the provisions of Rules 8.1 
of the Code, all 'dealings' in 'relevant securities' of RPL by a potential 
offeror, or RPL, or by any of their respective 'associates', must be disclosed 
by no later than 12.00 noon (London time) on the London business day following 
the date of the relevant transaction. 
 
A disclosure table, giving details of the companies in whose 'relevant 
securities' 'dealings' should be disclosed, and the number of such securities in 
issue, can be found on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk. 
 
'Interests in securities' arise, in summary, when a person has long economic 
exposure, whether conditional or absolute, to changes in the price of 
securities. In particular, a person will be treated as having an 'interest' by 
virtue of the ownership or control of securities, or by virtue of any option in 
respect of, or derivative referenced to, securities. 
 
Terms in quotation marks are defined in the Code, which can also be found on the 
Panel's website. If you are in any doubt as to whether or not you are required 
to disclose a 'dealing' under Rule 8, you should consult the Panel. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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