Result of General Meeting and Total Voting Rights

RNS Number : 0227Q

Downing Renewables & Infrastructure

23 June 2022

 

23 June 2022

Downing Renewables & Infrastructure Trust plc 

("DORE" or the "Company")

Result of General Meeting and Total Voting Rights

At the Company's General Meeting held earlier today all of the resolutions were decided by poll and all were passed. The results of the poll are set out below

Resolutions	Votes For	%	Votes Against	%	Total Votes Cast	Votes Withheld
1. To grant the Directors authority to allot up to 250 million Ordinary Shares in the period to 6 June 2023	65,314,349	99.99%	9,536	0.01%	65,323,885	36,519
2. To amend the Company's investment policy as set out in the Circular.	65,314,349	99.99%	9,536	0.01%	65,323,885	36,519
3. To disapply the pre-emption rights in respect of the allotment of Ordinary Shares pursuant to Resolution 1.	65,271,426	99.92%	52,459	0.08%	65,323,885	36,519

Notes:

A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" and "Against" a resolution.

Further to the announcement made by the Company earlier today, the Company has successfully raised gross proceeds of c.£52.9 million through the issue of in aggregate 47,614,000 Ordinary Shares at a price of 111 pence per Ordinary Share pursuant to the Initial Issue.

Applications have been made to the FCA and the London Stock Exchange for 47,614,000 Ordinary Shares issued pursuant to the Initial Issue to be admitted to the premium segment of the Official List and to trading on the premium segment of the London Stock Exchange's main market. Admission is expected to occur on 27 June 2022.

Following completion of the Initial Issue, the Company's issued share capital will comprise 184,622,487  Ordinary Shares. This 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Ordinary Shares issued pursuant to the Initial Issue will, following Initial Admission, rank pari passu in all respects with the existing Ordinary Shares and will carry the right to receive all dividends and distributions declared, made or paid on or in respect of the Ordinary Shares by reference to a record date after Initial Admission.

Unless otherwise defined, the terms used in this announcement shall have the same meaning as set out in the prospectus of the Company dated 7 June 2022.

Contact details:

Downing LLP  - Investment Manager to the Company Tom Williams	[phone]
Singer Capital Markets  - Sponsor, Financial Adviser and Joint Bookrunner to the Company Robert Peel, Alaina Wong, Asha Chotai (Investment Banking) Sam Greatrex, Alan Geeves, James Waterlow, Paul Glover, William Gumpel (Sales)	[phone]
Winterflood Securities Limited  - Joint Bookrunner to the Company Neil Morgan, Verity Wilson (Corporate Finance) Darren Willis, Andrew Marshall (Sales)	[phone]
TB Cardew  - Public relations advisor to the Company Ed Orlebar Tania Wild Lucas Bramwell	[phone] [phone]  [phone] [phone] [e-mail]

About Downing Renewables & Infrastructure Trust plc

DORE is a closed-end investment trust that aims to provide investors with an attractive and sustainable level of income, with an element of capital growth, by investing in a diversified portfolio of renewable energy and infrastructure assets in the UK and Northern Europe. DORE has been awarded the London Stock Exchange's Green Economy Mark in recognition of its contribution to the global 'Green Economy'.

The Board classifies DORE as a sustainable fund with a core objective of accelerating the transition to net zero through its investments, compiling and operating a diversified portfolio of renewable energy and infrastructure assets to help facilitate the transition to a more sustainable future. The Company believes that this directly contributes to climate change mitigation.

DORE's strategy, which focuses on diversification by geography, technology, revenue and project stage, is designed to increase the stability of revenues and the consistency of income to shareholders. For further details please visit   www.doretrust.com .  

LEI: 2138004JHBJ7RHDYDR62

About Downing LLP

Downing LLP is a London-based investment management firm. It has over 25,000 investors and currently manages c.£1.7 billion of equity invested into businesses across a range of sectors, from renewable energy, care homes, health clubs, and children's nurseries, to technology and sports nutrition. Downing has a demonstrable track record in renewables, having made more than 176 investments into solar parks, wind farms and hydroelectric plants since 2010.

 

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