JGL 0.00% 3.8¢ jackgreen limited

caned by pierpont again, page-7

  1. hi
    279 Posts.
    b&b support.. $0.25 now wow Wednesday, 2 November 2005

    ASX Announcement – ASX Code: JGL
    $5 million Babcock & Brown Guarantee Support Facility
    Jackgreen Limited (ASX Code JGL) announced today that it has finalised and
    met conditions precedent for a guarantee support facility provided by Babcock
    & Brown Australia Infrastructure Pty Ltd (Babcock & Brown).
    Babcock & Brown, a substantial shareholder in JGL, has provided a
    Guarantee Support Facility (GSF) to Jackgreen (International) Pty Ltd (JGI),
    the operating subsidiary of Jackgreen Limited, for the purposes of trading with
    energy counterparties, including NEMMCO, wholesale energy counterparties
    and energy network providers. The facility provides for up to $5 million made
    up of two tranches of $2.5 million and for a period of 2 years with possible
    extension up to 5 years.
    Jackgreen’s Managing Director, Andrew Randall stated “this facility is
    significant as it allows Jackgreen to continue its high customer growth rate
    over a sustained period without requiring significant cash reserves. The
    support of Babcock & Brown will enable us to keep tracking to our
    performance goals and we look forward to the relationship growing into the
    future”.
    Jackgreen is Australia’s dedicated renewable energy retailer and is licensed
    to retail electricity in New South Wales, Victoria, South Australia, and a
    licensed gas retailer in South Australia.
    For further information on Jackgreen visit www.jackgreen.com.au. For
    information or comment please phone Andrew Randall, Managing Director of
    Jackgreen Limited on 8302 3812.
    Signed
    Andrew Woodward
    Company Secretary
 
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