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Earnz PLC on Wednesday announced plans to raise £4.0 million to help fund the £9.5 million acquisition of Zero Carbon Group Ltd. The Cheltenham, England-based energy services company intends to raise £3.5 million via a placing and £500,000 by a retail offer at 5.0 pence per share. The placing shares and retail offer shares represent around 33% of the company’s enlarged share capital. Proceeds of the placing will satisfy the initial cash consideration payable for ZCG and provide additional working capital for the enlarged group. The £5 million initial consideration will be satisfied £3 million on completion, £1 million once ZCG achieves earnings before interest, tax, depreciation and amortisation of £500,000 and £1 million once ZCG achieves Ebitda of £1 million. Deferred consideration of up to £4.5 million will be met 40% in consideration shares and 60% in cash. ZCG operates across the North of England and the Midlands, using a network of longstanding contractors as well as in-house staff, delivering whole building solutions for the energy efficiency agenda, including insulation (external and internal), installation of air source heat pumps, solar panel installations and electric vehicle chargers through certified electricians. Shares in Earnz closed up 1.0% at 5.30 pence each in London on Wednesday. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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