Notice of Extraordinary General Meeting

RNS Number : 7501J

Greencoat Renewables PLC

25 August 2021

 

GREENCOAT RENEWABLES PLC

(the "Company")

NOTICE OF EXTRAORDINARY GENERAL MEETING

Dublin, London, 25 August 2021 | Greencoat Renewables PLC ("Greencoat Renewables" or the "Company"), announces that an Extraordinary General Meeting of Greencoat Renewables PLC will be held at Davy House, 49 Dawson Street, Dublin 2, Ireland on 17 September 2021 at 10.00 a.m. (the "EGM").

The business of the EGM will be to consider  proposed amendments to the Company's Investment Policy (pursuant to the Resolution set out in the Notice of EGM (the "Resolution")) to add Spain and Portugal to the definition of "Other Relevant Countries" such that the amended definition of "Other Relevant Countries" shall refer to "Belgium, Finland, France, Germany, Netherlands, Denmark, Norway, Sweden, Spain and Portugal" and to clarify that investments in assets under construction or complementary to the roll-out of renewable energy generation up to 10 per cent. of gross asset value can be made in Ireland in addition to the Other Relevant Countries.

As noted in the Company's 2020 annual report, the Company has been conducting investigations of investments in Iberian markets, which have seen positive developments in recent years and where subsidy free renewable infrastructure development continues to see significant growth. The Company has been exploring opportunities in Spain and Portugal and has an active near term pipeline. The additional jurisdictions of Spain and Portugal would provide the Company with the benefit of a larger pool of potential acquisition targets and facilitate the group's diversification opportunities as it continues its expansion into Europe. Greencoat Capital has relationships with many of the key utilities and developers across the Iberia regions, providing the Company with access to a wide range of opportunities complimentary to the Company's wider European strategy.

The circular which includes the notice of the EGM (the "Circular") and a Form of Proxy have been posted to shareholders today. The Board strongly urges shareholders to review the contents of the Circular in their entirety, including the documents referred to therein, and consider the Board's recommendation to vote in favour of the Resolution.

The Circular, the Form of Proxy and the proposed revisions to the Investment Policy are available to view on the Company's website, www.greencoat-renewables.com, and will be available for inspection during normal business hours on any business day from the date of this letter until the EGM at the registered office of the Company.

Public Health Guidelines and the EGM

The well-being of our Shareholders and our people is a primary concern for the Directors. We are closely monitoring the COVID-19 situation and any advice by the Government of Ireland in relation to the pandemic. We will take all recommendations and applicable law into account in the conduct of the EGM. There will likely be very limited ability to attend the EGM in person and we would therefore encourage Shareholders to submit their Form of Proxy to ensure they can vote and be represented at the EGM. By submitting a Form of Proxy in favour of the chairman of the EGM you can ensure that your vote on the Resolution is cast in accordance with your wishes without attending in person.

Proxy forms can be submitted in advance of the EGM by availing of one of the options set out in the notice of the EGM:

• by post to the Registrars of the Company, Computershare Investor Services (Ireland) Limited, 3100 Lake Drive, Citywest Business Campus, Dublin 24, D24 AK82, Ireland, so as to be received in any case no later than 48 hours before the time appointed for the EGM;

• electronically by accessing www.eproxyappointment.com; or

• by Euroclear Nominees Limited in respect of the shares registered in its name as nominee for Euroclear Bank SA/NV ("Euroclear Bank"), through the use of a secured mechanism to exchange electronic messages as agreed by the Company with Euroclear Bank.

Persons who hold their interests in ordinary shares as Belgian law rights through the Euroclear system or as CDIs through the CREST system, should consult with their stockbroker or other intermediary at the earliest opportunity for further information.

For voting services offered by custodians holding Irish corporate securities directly with Euroclear Bank, please contact your custodian.

If registered shareholders are unable to attend the meeting and have questions they would like posed at the EGM, they can be submitted by email to: [e-mail] by 9.00 a.m. on 15 September 2021 and can be assured that all questions will receive a response prior to the meeting. 

The Company continues to monitor the impact of COVID-19 and any relevant updates regarding the EGM, including any changes to the arrangements outlined in the Circular, will be announced via a Regulatory Information Service and will be available on www.greencoat-renewables.com.

In the event that it is not possible to hold the EGM either in compliance with public health guidelines or applicable law or where it is otherwise considered that proceeding with the EGM as planned poses an unacceptable health and safety risk, the EGM may be adjourned or postponed or relocated to a different time and/or venue, in which case notification of such adjournment or postponement or relocation will be given in accordance with applicable law.

A copy of the Circular can be inspected at the National Storage Mechanism website at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.

Important Note

Announcements relating to the EGM contain (or may contain) certain forward-looking statements with respect to certain of the Company's current expectations and projections about future events, including Migration, and the Company's future financial condition and performance. These statements, which sometimes use words such as "aim", "anticipate", "believe", "may", "will", "should",  "intend", "plan", "assume", "estimate", "expect" (or the negative thereof) and words of similar meaning, reflect the directors' current beliefs and expectations and involve known and unknown risks, uncertainties and assumptions, many of which are outside the Company's control and difficult to predict.

Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement may not occur. The information contained in this announcement, including the forward-looking statements, speaks only as of the date of this announcement and is subject to change without notice and the Company does not assume any responsibility or obligation to, and does not intend to, update or revise publicly or review any of the information contained herein save where indicated in the Circular, whether as a result of new information, future events or otherwise, except to the extent required by Euronext Growth Dublin or AIM or by applicable law.

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For further information on the Announcement, please contact:

Greencoat Renewables PLC:  [phone]

Bertrand Gautier

Paul O'Donnell  

Tom Rayner

Davy (Joint Broker, Nomad and

Euronext Growth Adviser)  [phone]

Ronan Veale

Barry Murphy

RBC (Joint Broker)                                                                                [phone]

Matthew Coakes

Duncan Smith

Elizabeth Evans

FTI Consulting (Media Enquiries)                                                     [phone]

Jonathan Neilan

Melanie Farrell

 

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