An online facility was provided in order for shareholders to ask questions related to the transaction. This reflected the Circular wording on the limit on physical attendance at the General Meeting, due to government restrictions. The online facility was left open until Friday, 19 March at 5.00pm. We have received one question which is detailed in full below, along with our response.
The acquisition is entitled Pinnacle Renewable Energy Inc. How is ‘renewable’ defined here? In particular, what timeframe is used in the definition of ‘renewable’, and is this compatible with the need to take urgent action on climate change?
The acquisition is entitled Pinnacle Renewable Energy Inc. as this is the name of the company proposed to be acquired.
The renewable status of sustainably sourced biomass is based on well-established scientific principles set out by the UN’s IPCC, which along with the UK’s Climate Change Committee agrees that sustainable biomass is critical to reach global climate targets.