b&b support.. $0.25 now wow Wednesday, 2 November 2005ASX...

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