THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
The Renewables Infrastructure Group Limited
Issue of Ordinary Shares under the Management Agreements and pursuant to the Scrip Alternative,
Shareholdings of Managers and Total Voting Rights
Issue of Ordinary Shares under the Management Agreements
The Board of The Renewables Infrastructure Group Limited (the "Company") announces that, in accordance with the terms of the management fee arrangements with InfraRed Capital Partners Limited (the "Investment Manager") and Renewable Energy Systems Limited (the "Operations Manager") under which 20 per cent. of the management fee is payable in new ordinary shares of no par value in the capital of the Company ("Ordinary Shares"), it has today issued in aggregate 781,125 Ordinary Shares (the "Management Ordinary Shares"), subject only to Admission (defined below).
The issue price per Management Ordinary Share is 95.4p, which is the 30 June 2016 NAV of 97.0p less the 1.5625p dividend paid for the period.
Pursuant to the terms of (a) the Investment Management Agreement between, inter alia, the Company and the Investment Manager dated 5 July 2013 (the "Investment Management Agreement") and (b) the Operations Management Agreement between, inter alia, the Company and the Operations Manager and dated 5 July 2013 (the "Operations Management Agreement"), 507,731 and 273,394 new Ordinary Shares have been allotted to the Investment Manager and the Operations Manager respectively. This is for the period from 1 January to 30 June 2016.
The Ordinary Shares allotted and issued to the Investment Manager and Operations Manager set out above are subject to a lock up of one year from Admission.
Issue of Ordinary Shares pursuant to the Company's Scrip Dividend Alternative
The Board of the Company announces that, pursuant to the Company's scrip dividend alternative in lieu of cash for the interim dividend for the three months ended 30 June 2016, elections for the scrip dividend alternative were received in respect of 14.36% of the Ordinary Shares in issue as at the record date of 19 August 2016. As a consequence, the Company has today issued 1,635,646 Ordinary Shares (the "Scrip Shares"), subject only to Admission (defined below).
When issued, the Scrip Shares will rank pari passu with the existing Ordinary Shares.
A copy of the document relating to the Scrip Dividend Alternative dated 25 May 2016 is available for inspection at the National Storage Mechanism www.morningstar.co.uk/uk/NSM and can also be obtained from the Company Secretary or from the Investor Relations section of the Company's website at www.trig-ltd.com.
Application has been made for the Scrip Shares to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that dealings in the Management Ordinary Shares and Scrip Shares will commence at 8.00 a.m. on 30 September 2016 ("Admission").
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in issue on Admission will be 830,839,960, each with one voting right. No Ordinary Shares are held in treasury.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.
InfraRed Capital Partners Limited
+44 (0) 20 7484 1800
+44 (0) 20 7353 4200
Canaccord Genuity Limited
+44 (0) 20 7523 8000
Liberum Capital Limited
+44 (0) 20 3100 2000
This information is provided by RNS