Esyasoft Makes a Pivotal Offer for Good Energy, Stocks Soar

LONDON - UK-based renewable energy company Good Energy Group PLC has received an unsolicited offer from Esyasoft Holding Limited regarding a potential acquisition of the company. The offer, which emerged on Monday, covers all of Good Energy's issued and to be issued share capital.

Good Energy Group's shares jumped in response to the news, rising by 27% in recent trading.

The Board of Good Energy is currently assessing the non-binding offer with its financial and legal advisors. At this point, there is no certainty regarding whether Esyasoft will make a formal offer or what the terms of any offer would be. The company stated that it would provide further updates as appropriate.

Under the City Code on Takeovers and Mergers, Esyasoft is required to either announce its intention to make a firm offer by 5:00 PM on November 25, 2024, in accordance with Rule 2.7, or to inform that it will not make an offer under Rule 2.8. This deadline can only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c).

Investors and stakeholders are advised to keep in mind that the potential offer is in its early stages and may not result in a transaction. Information regarding this potential acquisition is based on Good Energy's press release.