31 J l 2020

ReN

E e g

ig

ag eeme

ell i

30%

i

e e

i

he G

lb

a d Bea de e

bi

e e g

jec

J

e 2020

a

e l

ac i i ie

e

Highligh

ξ

ReN Ene g

Limi ed (ReN

E e g ) (ASX: RNE) ha

en e ed in o a Sec

i ie and A e Sale

and P

cha e Ag eemen (SPA)

i h Re onance Wa e

Finance UK Limi ed (Re

a ce) fo he

ale of i

30% in e e

in he Go lb

n and Bea de e

bioene g p ojec

fo $500,000.

ξ

Coope

Ba in p efe

ed me hod of abandonmen fo

he

o emaining geo he mal

ell

de e mined

i h p opo ed ac i i ie

o be di c ed

i h he So h A alian Depa

men fo

Ene g

and Mining.

  • Ca h holding a 30 J ne 2020 of $2.45m o be boo ed b app o ima el $0.78m follo ing

comple ion of he ale of he 30% in e e

in he bioene g p ojec

o Re onance and eceip of

pa men d e o ReN

Ene g fo he

econd gene a o p ojec a

he Bea de e facili , in e e

di ib ion and o he

e ice .

ξ Appoin men of KPMG Co po a e Finance a

ad i o o a

i ReN

Ene g

of po en ial me ge o ac i i ion oppo ni ie

financed

i h ReN

Ene g

capi al.

i h he iden ifica ion c ip and/o e e nal

Coinciding i h

he elea e of i J ne 2020 a e l ca h flo epo , ReN Ene g i plea ed o p o ide

an pda e on i

ecen ac i i ie .

ReN E e g Limi ed, Co po a e Ho e, King Ro 1, Le el 2, 52 McDo gall S ee , Mil on, QLD 4064 Phone: +61 7 3721 7500 Fa : +61 7 3721 7599 Email: info@ en ene g .com.a

ABN: 55 095 006 090

Sale

f ReN

E

e g

30% i

e e

i

bi

e

e g

jec

Allia

ce

a

e

ReN

Ene g

anno nce

ha i ha

en e ed in o a SPA

i h Re onance fo i

o ac

i e ReN

Ene g

30%

in e e

in he Go

lb

n and Bea de e

bioene g

p ojec

fo $500,000.

D

ing he la

12 mon h , d e o e

e nal fac o

a each

i e, he bioene g

p ojec

ha e

nde pe fo med,

e pe iencing

ed

ced ope a ing and p oce

ing ho

. A combina ion of d o

gh , b

hfi e , p oce ing plan

inf a

c

e damage and mo e ecen l

he effec of COVID 19 ha

e l ed in lo

e

elec

ical demand and

effl

en

le el

fo

p oce

ing.

Thi

ha

led o

ed

ced bioga

p od

c ion and elec

ical gene a ion, and

ed

ced

e en e fo

he Alliance. The e condi ion

a e e pec ed

o con in

e fo

he fo e eeable f

e. A

capi al con ib

ion i

al o needed

o mee ongoing ope a ional

e

i emen .

A

a

e

l , ReN

Ene g

en e ed in o di c

ion

i h Re onance fo

he

ale of i

30% in e e

in

he

p ojec

and ha

accep ed an offe

fo

$500,000. The SPA i

no

bjec

o an

condi ion

p eceden and i

e pec ed

o comple e in ea l A g .

ReN

Ene g

Chai man, Bo d Whi e

aid:

In

eaching o

deci ion

o en e

in o an ag eemen

i h

Re onance,

he Boa d and Managemen

ha e e plo ed and con ide ed a n mbe

of al e na i e , incl ding

e aining o

in e e

and making he ag eed capi al con

ib

ion, offe ing

o p

cha e Re onance

in e e

and di e

ing pa

of

he in e e

o a 3 d pa

. Ha ing a

e

ed

he e al e na i e

and aking in o acco n

ReN

Ene g

a ailable ca h, o

foc

on clo ing o

he Coope

Ba in

emedia ion ac i i ie

and ac i el

eeking o

ne

p ojec oppo

ni ie , he Boa d and I belie e ha

hi

an ac ion

ep e en

he be

op ion

o ad ance he in e e

of o

ha eholde .

ReN

Ene g

CEO, G eg Wa

on

aid: A

a mino i

pa

ne

in

he bioene g

Alliance,

he

an ac ion

ep e en

he be

oppo

ni

fo ReN

Ene g

o off e

he e

i emen fo a ca h call and add o i

c

en

ca h holding . The con ide a ion fo

he ale

ep e en

a m

l iple on FY2020 EBITDA fo

he bioene g

p ojec

of mo e han 8 ime and place

ReN

Ene g

in a good financial po i ion o clo e o

i

emedia ion

obliga ion

and p

e M&A ac i i

. The e m

of he ale al o encap

la e pa men

d e o ReN

Ene g

fo

he

econd gene a o

p ojec a

he Bea

de e

facili

, in e e

and o he

e

ice

of app o ima el

$283,000. In

o al hi

ill add $783,000

o ReN

Ene g

ca h holding

befo e

an ac ion co .

The Boa d con ide

he

an ac ion o be in he be

in e e

of ReN

Ene g

ha eholde .

C

e Ba i emedia i

P og e

i

con in

ing o a d he abandonmen of he

o emaining geo he mal

ell

and

ende

of he

GRL3 geo he mal

enemen

loca ed in he So h A

alian Coope

Ba in.

Follo

ing engagemen

of

Well afe P

L d in la e Feb

a

, p e-abandonmen field

o k o ga he

addi ional info ma ion f om he

ell

a

cond

c ed in la e Ap il/ea l

Ma . Combining hi da a i h he hi

o ical info ma ion ha

enabled

he

emedia ion

eam

o de e mine

he p efe ed me hod of abandonmen

fo bo h

ell . A mee ing

i h

he

So h A

alian Depa

men fo Ene g and Mining (Reg la o ) o di c

he p opo ed ac i i ie ha

been

ched led. Follo ing hi mee ing he ag eed ell p og am

ill be p epa ed and co

finali

ed.

Pending

he a ailabili

of con ac o

, abandonmen of

he

ell i

planned fo la e Q3/ea l

Q4 2020. To

da e, COVID-19 ha no

impac ed he

emedia ion o k

and i no

fo eca

o affec f

e ac i i ie

nle

condi ion

change.

Page 2 of 3

  • a e

ReN

Ene g

ha $2.45m in ca h e e

e a 30 J ne 2020,

hich i

o be boo

ed b app o ima el

$0.78m

nde

he e m

of he SPA

i h Re onance.

ReN

Ene g

al o anno nce

he appoin men of KPMG Co po a e Finance a

financial ad i o

o a

i

he

Compan i h

he iden ifica ion of po en ial me ge o ac

i i ion oppo ni ie

financed

i h ReN

Ene g

c ip and/o

e

e nal capi al.

ReN

Ene g

CEO, G eg Wa

on

aid: Follo

ing comple ion of he

a egic e ie

in Feb

a

2020, ReN

Ene g

ha

cce

f ll e e i

co

ba e.

Taking in o acco

n

he inc ea e in a ailable ca h f om

he

ag eemen

i h Re onance, ReN

Ene g i

ell po i ioned o comple e he

o k

o allo

he

ende

of

GRL3 in he Coope

Ba in and ac i el

eek ne me ge o

ac

i i ion oppo

ni ie .

Thi ma ke anno ncemen ha been a ho i ed fo elea e o he ASX b he Boa d of Di ec o .

Fo mo e info ma ion plea e con ac :

G eg Wa

Chief E ec i e Office + 61 7 3721 7500

Page 3 of 3

R e 4.7B

A

4C

Q

L

R

4.7B

N

ReNu Energ Limited

ABN

Q

(

)

55 095 006 090

30 June 2020

C

C

Y

$A 000

(12

)

$A 000

1. C

1.1

Receipts from customers

132

892

1.2

Pa ments for

(a)

research and development

(210)

(369)

(b)

product manufacturing and operating

(48)

(395)

costs

(c)

advertising and marketing

-

-

(d)

leased assets

-

-

(e)

staff costs

(160)

(1,798)

(f)

administration and corporate costs

(140)

(894)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

30

119

1.5

Interest and other costs of finance paid

-

(48)

1.6

Income ta es paid

-

-

1.7

Government grants and ta incentives

-

-

1.8 Other (provide details if material)

(a)

e penditure on biogas EPC project

(87)

(791)

(b)

business development

-

(21)

(c)

GST received/(paid)

10

(6)

1.9

N

/ (

)

(474)

(3,311)

N e: e e a e

f a

a

a ce

e

ac ed ca

ed

e a g

ac

e d

g e

a e

ASX Listing Rules Appendi 4C (17/07/20)

Page 1

+ See chapter 19 of the ASX Listing Rules for defined terms.

A

4C

Q

L

R 4.7B

2.

C

2.1

Pa ments to acquire or for:

(a)

entities

-

-

(b)

businesses

-

-

(c)

propert , plant and equipment

-

(21)

(d)

investments

-

-

(e)

intellectual propert

-

-

(f)

other non-current assets

-

-

2.2

Proceeds from disposal of:

(a)

entities

-

-

(b)

businesses

-

5,775

(c)

propert , plant and equipment

-

-

(d)

investments

-

-

(e)

intellectual propert

-

-

(f)

other non-current assets

-

-

2.3

Cash flo s from loans to other entities

-

-

2.4

Dividends received (see note 3)

-

-

2.5

Other (provide details if material)

(a)

release of securit

deposits to cash

10

277

(b)

R&D ta incentives

-

57

2.6

N

/ (

)

10

6,088

3. C

  1. Proceeds from issues of equit securities (e cluding convertible debt securities)
  2. Proceeds from issue of convertible debt securities

--

-

-

3.3

Proceeds from e ercise of options

-

-

3.4

Transaction costs related to issues of

-

(5)

equit

securities or convertible debt

securities

3.5

Proceeds from borro

ings

-

-

3.6

Repa ment of borro

ings

-

(1,433)

3.7

Transaction costs related to loans and

-

(316)

borro

ings

3.8

Dividends paid

-

-

3.9

Other (provide details if material)

-

-

3.10

N

/ (

)

-

(1,754)

ASX Listing Rules Appendi 4C (17/07/20)

Page 2

+ See chapter 19 of the ASX Listing Rules for defined terms.

A

4C

Q

L

R 4.7B

4.

N

/ (

)

4.1 Cash and cash equivalents at beginning of

period

2,912

1,425

4.2

Net cash from / (used in) operating

(474)

(3,311)

activities (item 1.9 above)

4.3

Net cash from / (used in) investing activities

10

6,088

(item 2.6 above)

4.4

Net cash from / (used in) financing activities

-

(1,754)

(item 3.10 above)

4.5

Effect of movement in e change rates on

-

-

cash held

4.6

C

2,449

2,449

5.

R

C

P

at the end of the quarter (as sho n in the

$A 000

$A 000

consolidated statement of cash flo

s) to the

related items in the accounts

5.1

Bank balances

2,449

2,912

5.2

Call deposits

-

-

5.3

Bank overdrafts

-

-

5.4

Other (provide details)

-

-

5.5

C

(

4.6

)

2,449

2,912

6.

P

C

$A'000

6.1

Aggregate amount of pa ments to related parties and their

105

associates included in item 1

6.2

Aggregate amount of pa ments to related parties and their

-

associates included in item 2

N

e: f a

a

a e

e 6.1 6.2,

a e ac

e

c de a de c

f, a d a

e

a a

f , c

a

e .

Remuneration paid to directors and their associates

ASX Listing Rules Appendi 4C (17/07/20)

Page 3

+ See chapter 19 of the ASX Listing Rules for defined terms.

A

4C

Q

L

R

4.7B

7.

F

T

A

N e:

e e

fac

c

de

a f

f f

a c

g

a a ge e

a a ab e

e e

.

Add

e a

ece

a

f

a

de

a d g

f

e

ce f f a ce a a ab e

e e

.

7.1 Loan facilities

7.2 Credit standb arrangements

  1. Other (please specif )
  2. T

$A 000

$A 000

-

-

-

-

-

-

-

-

7.5

U

-

7.6

Include in the bo belo

a description of each facilit

above, including the lender, interest

rate, maturit date and

hether it is secured or unsecured. If an additional financing

facilities have been entered into or are proposed to be entered into after quarter end,

include a note providing details of those facilities as

ell.

N/A

8.

E

$A 000

8.1

Net cash from / (used in) operating activities (item 1.9)

(474)

8.2

Cash and cash equivalents at quarter end (item 4.6)

2,449

8.3

Unused finance facilities available at quarter end (item 7.5)

-

8.4

Total available funding (item 8.2 + item 8.3)

2,449

8.5

E

8.1)

(

8.4

5.2

N

e: f

e e

a e

ed

e

e e a g ca

f

e

1.9, a

e e 8.5 a N/A . O e e, a

f g

e f

e e

a ed

a e

f f d

g a a ab e

be c

ded

e

8.5.

8.6 If item 8.5 is less than 2 quarters, please provide ans ers to the follo ing questions:

8.6.1

Does the entit e pect that it ill continue to have the current level of net operating

cash flo s for the time being and, if not, h not?

Ans

er: Not applicable

8.6.2 Has the entit taken an steps, or does it propose to take an steps, to raise further

cash to fund its operations and, if so,

hat are those steps and ho

likel

does it

believe that the

ill be successful?

Ans

er: Not applicable

8.6.3

Does the entit

e pect to be able to continue its operations and to meet its business

objectives and, if so, on

hat basis?

Ans

er: Not applicable

N e:

e e e 8.5 e

a 2 a e

, a f e

8.6.1, 8.6.2 a d 8.6.3 ab e

be a

e ed.

ASX Listing Rules Appendi 4C (17/07/20)

Page 4

+ See chapter 19 of the ASX Listing Rules for defined terms.

A

4C

Q

L

R 4.7B

C

1

This statement has been prepared in accordance ith accounting standards and policies

hich compl ith Listing Rule 19.11A.

2

This statement gives a true and fair vie of the matters disclosed.

Date:

31 Jul

2020

Authorised b : B

the Board

(Name of bod

or officer authorising release

see note 4)

N

1.

This quarterl

cash flo

report and the accompan ing activit

report provide a basis for informing the market about the

entit

s activities for the past quarter, ho

the

have been financed and the effect this has had on its cash position. An

entit

that

ishes to disclose additional information over and above the minimum required under the Listing Rules is

encouraged to do so.

2.

If this quarterl

cash flo

report has been prepared in accordance

ith Australian Accounting Standards, the definitions

in, and provisions of, AASB 107: S a e

e

f Ca

F

appl to this report. If this quarterl

cash flo

report has been

prepared

in accordance ith other accounting standards

agreed b ASX

pursuant to

Listing

Rule 19.11A,

the

corresponding equivalent standard applies to this report.

3.

Dividends received ma

be classified either as cash flo

s from operating activities or cash flo

s from investing activities,

depending on the accounting polic of the entit .

4.

If this report has been authorised for release to the market b

our board of directors,

ou can insert here: B

the board .

If it has been authorised for release to the market b

a committee of

our board of directors,

ou can insert here: B

the

[ a

e f b a d c

ee

eg A d

a d R

C

ee] . If it has been authorised for release to the market b

a

disclosure committee,

ou can insert here: B

the Disclosure Committee .

5.

If this report has been authorised for release to the market b

our board of directors and ou

ish to hold ourself out as

compl ing

ith recommendation 4.2 of the ASX Corporate Governance Council s C

a e G e a ce P

c e a d

Rec

e da

, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial

records of the entit

have been properl

maintained, that this report complies

ith the appropriate accounting standards

and gives a true and fair vie

of the cash flo

s of the entit , and that their opinion has been formed on the basis of a

sound s stem of risk management and internal control

hich is operating effectivel .

ASX Listing Rules Appendi 4C (17/07/20)

Page 5

+ See chapter 19 of the ASX Listing Rules for defined terms.

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ReNu Energy Ltd. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 08:16:24 UTC