ALK Alkemy Capital Investments Plc

LONDON--Alkane Energy PLC (ALK.LN) Wednesday announced the acquisition of the Wheldale, West Yorkshire power response facilities from SSE PLC (SSE.LN), for GBP1.5 million--an initial payment of GBP1.1 million payable in cash, with a GBP0.4 million deferred cash payment to be paid in October.

MAIN FACTS:

-Acquisition brings a 10MW site with a current installed engine capacity of 7.5MW

-As part of the financial arrangements, Alkane increased its banking facilities with Lloyds Bank PLC by GBP1 million; balance to be funded from group cash flow.

-Shares at 1430 GMT up 3 pence or 5.7% at 47 pence valuing the company at GBP55 million.

-Write to Ed Ballard at ed.ballard@wsj.com

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