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The former owner of Saga is returning to the business by investing £100m to support the company’s finances. Sir Roger de Haan, who traded Saga for £1.35bn 16 years ago, will add the funds in return for a 20% stake in the company with the company seeking a further £50m from existing investors. De Haan would spend £60.6m buying 20% of Saga shares at 27p per share, a 98% premium to the 13.61p closing price on 28 August and will invest up to £39.4m in share placings at a maximum issue price of 15p per share and will join the board as non-executive chairman. Another placing at a max price of 15p a share to existing investors could bring the total fundraising to £150m.
Carbon emissions from Britain’s electricity system plummeted by over a third during the coronavirus lockdown after renewable energy played its largest ever role helping to keep the lights on. Lockdown measures caused Britain’s electricity demand to fall by 13% in the second quarter, compared with the same months last year, which helped the share of renewables to grow by a third to 40% of the energy mix. The Covid-19 impact also caused electricity market prices to plunge by more than 40% to £23 per megawatt-hour while the carbon intensity of the electricity system fell by a fifth to an average of 153 grams of carbon per kilowatt-hour.
The fee for plastic shopping bags in England will be doubled to 10p and extended to all shops from April 2021. The Department for Environment, Food and Rural Affairs (Defra) said that small retailers employing 250 people or fewer - will no longer be exempted.
#PlasticBags #Covid19 #Shares #Kaline
