Source - LSE Regulatory
RNS Number : 1113F
Renewables Infrastructure Grp (The)
20 September 2024
 

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 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 arrangement with InfraRed Capital Partners Limited (the "Investment Manager") and Renewable Energy Systems Limited (the "Operations Manager") under which a proportion 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 818,326 Ordinary Shares (the "Management Ordinary Shares"), subject only to Admission (defined below).

 

The issue price per Management Ordinary Share is 121.5325p, which is the 30 June 2024 NAV of 123.4p less the 1.8675p 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 Manager dated 5 July 2013 (the "Operations Management Agreement"), 531,912 and 286,414 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 2024.

 

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.

 

Admission

 

Application has been made for the Management Ordinary 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 will commence at 8.00 a.m. on 30 September 2024 ("Admission").

 

Total Voting Rights

 

In light of the Company's ongoing share buyback programme (the terms of which were announced on 9 August 2024), the total number of Ordinary Shares with voting rights will be announced to the market following Admission, as defined above, in accordance with the Financial Condict Authority's Disclosure, Guidance and Transparency Rules for use by shareholders to determine if they are required to notify their interest in, or a change in their interest in the Company.

 

 

Enquiries

 

Aztec Financial Services (Guernsey) Limited

Chris Copperwaite

Laura Dunning

 

+44 (0)1481 749700

 

InfraRed Capital Partners Limited

Minesh Shah

Phil George

 

+44 (0) 20 7484 1800

Brunswick                                                             

Mara James

 

+44 (0) 20 7404 5959

Investec Bank Plc

Lucy Lewis

Denis Flanagan

 

+44 (0) 20 7597 5661

BNP Paribas

Virginia Khoo

Carwyn Evans

+44 (0) 20 7595 9444

 

 

Ends

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IOESEIFLSELSEIU
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

The Renewables Infrastructure Group Limited (TRIG)

-0.30p (-0.34%)
delayed 18:19PM