Renergen announcement highlights

Renergen Limited (ASX:RLT) has appointed The Standard Bank of South Africa Limited as a Joint Underwriter in the IPO and secured a short-term funding facility with SBSA to provide the Company with funding leading into the Nasdaq IPO. Additionally, associates of directors have concluded cession and pledge agreements, pledging and ceding 17,314,575 Renergen ordinary shares as security to SBSA.

Executive commentary

Standard Bank's Head of Equity Capital Markets, South Africa and Sub-Saharan Africa, Richard Stout, expressed delight in extending support to Renergen and looks forward to delivering a successful capital raise and Nasdaq listing for the Company. Chairman Dr David King welcomed the financial security offered by the associates of directors and highlighted the alignment with valued shareholders as the company prepares for the next chapter in Renergen's journey.

Summary of Renergen announcement

Renergen Limited has appointed The Standard Bank of South Africa Limited as a Joint Underwriter in the IPO and secured a short-term funding facility with SBSA to provide funding leading into the Nasdaq IPO. Additionally, associates of directors have pledged and ceded 17,314,575 Renergen ordinary shares as security to SBSA. The company is aligning its annual maintenance program at the Virginia Gas Plant with Eskom's contractual maintenance to minimize downtime and optimize cool-down. The Chairman expressed confidence in the project and welcomed Standard Bank's involvement in the IPO process, emphasizing their deep knowledge of South Africa and the energy landscape in the region.