Illyrian is offering up to £7,000,000 of 7.50 per cent Cumulative Redeemable Preference Shares of £1 due 2023. The Preference Shares will bear a preferential interest rate from and including their date of issue at a rate of 7.50 per cent. per annum, payable half-yearly in arrears on 31 May and 30 November of each year until the expiry of the term.
SEDOL Number BG0GNV1
NEX Exchange Symbol IPWR
The offer of the Preference Shares is being made to enable Illyrian to fund the acquisition of renewable energy projects in Slovenia and central Europe in accordance with the business strategy.
The Directors believe that the admission of the Preference Shares to the NEX Exchange Growth Market is the most efficient and cost-effective way to access further capital from existing and future potential investors in order for the Company to pursue growth opportunities.