Burges Salmon advises Helius Energy
26 October 2011
Burges Salmon LLP has advised Helius Energy plc (the biomass power station developer) on its placing to raise approximately £6.55 million (approximately £6.27 million net of expenses) by way of a placing of 40,946,142 New Ordinary Shares at 16 pence per share. The placing was carried out on a non pre-emptive basis to institutional and other investors and was arranged and fully underwritten by Numis Securities. Admission occurred on 26 October 2011.
Adrian Bowles, CEO of Helius Energy, said:
"We are pleased to have secured this significant capital investment in what are tough market conditions for financing. This placing clearly demonstrates that investors have confidence in Helius' ability to develop high quality projects and the potential to realise value from its portfolio.
We believe that biomass energy is becoming an increasingly important part of the UK's energy mix. The capital raised allows us to continue to develop our pipeline of other projects which follows the achievement of financing Helius' CoRDe Project in Scotland earlier this year."
Richard Spink led the Burges Salmon team, assisted by Mark Cook.