Proposed Fundraising and Capital Access Window

The Board of eEnergy (AIM: EAAS), announces that it is progressing a placing to raise minimum gross proceeds of £4.0m (the “Placing”). The Company also intends to launch a retail offer to enable existing shareholders to participate on the same terms (the “Retail Offer”), to further strengthen the balance sheet (together with the Placing, the "Proposed Fundraising").

Background

As announced on 21 August 2026, installations under the Mace programme were substantially completed before 30 June 2026. However, due to setbacks in the submission and approval of relevant contract documentation by eEnergy, the Company has experienced delays in the receipt of approximately £2.8m under the programme.

Of the total outstanding amounts to be collected, £1.9m relates to the solar and battery installations, which is expected to be collected over the next six months. Approximately £0.5m relates to EV chargers and £0.4m relates to LED work. The EV chargers and LED cash is expected to be collected within two months.

The ongoing delays in receiving the Mace cash have severely impacted eEnergy’s ability to pay creditors as they fall due and are adversely impacting the Company’s ability to source materials and services to continue current installations effectively.

Proposed Fundraising and Use of Proceeds

Consequently, the Board has decided that the Company must now source new capital to refinance the business, enable it to pay overdue creditors and take advantage of the many opportunities which exist in its markets.

Indications of interest have been received in respect of the minimum £4.0 million, subject to definitive documentation. It is anticipated that the Proposed Fundraising will be at 0.3 pence per ordinary share.

The net proceeds of the Proposed Fundraising will be applied to address near-term working capital requirements of the Company by paying overdue creditors and facilitating key suppliers to continue current installations unfettered by cash constraints. The Proposed Fundraising proceeds will not be used towards repayment of the Company’s £2.5m loans from shareholders. The Board believes that the Proposed Fundraising will stabilise the business while the cash from the Mace programme is collected and place the business on a strong footing for 2027.

Completion of the Proposed Fundraising will be subject to, inter alia, shareholder approval at a General Meeting of the Company, notice of which will be included in a circular which will be dispatched to shareholders following finalisation of the Proposed Fundraising.

The Board continues to expect to deliver results in line with FY26 market expectations of approximately £32.0 million revenue and £1.7 million Adjusted EBITDA.

Capital Access Window

In connection with the Proposed Fundraising, the Company has decided to utilise a Capital Access Window introduced recently in the updated AIM Rules for Companies. The Capital Access Window is a voluntary pause to the trading of a company's shares to make it easier for companies to reach a broader range of investors during a fundraise. During the Capital Access Window, the Company and its advisers will seek to determine the level of investor demand and the appropriate size of the Proposed Fundraising.

Accordingly, the Ordinary Shares have immediately entered a Capital Access Window and trading in the Ordinary Shares has been temporarily suspended. The Company expects to announce the results of the proposed Placing in due course, following which an announcement will be made detailing the terms and timetable for the Retail Offer. The Capital Access Window will remain open until conclusion of the Retail Offer.

The Company will subsequently announce the outcome of the Retail Offer, following which trading in the Ordinary Shares is expected to resume.

The Placing is being arranged by the Company’s broker, Canaccord Genuity Limited.