Cancellation of share premium account

RNS Number : 2194T

SDCL Energy Efficiency Income Tst

19 March 2019

 

19 March 2019

SDCL Energy Efficiency Income Trust plc

("SEEIT" or the "Company")

Cancellation of share premium account

As stated in the prospectus of SDCL Energy Efficiency Income Trust plc dated 22 November 2018, in order to increase the distributable reserves available to facilitate share repurchases and the payment of future dividends, the Company had resolved that, conditional upon the issue of shares on 11 December 2018 (the "Issue") and the approval of the Court, the amount standing to the credit of the share premium account of the Company immediately following the Issue be cancelled so as to create distributable reserves. The Company had also resolved to cancel the outstanding Redeemable Preference Shares issued on incorporation.

The Company is pleased to announce that, following the approval of the Court on 12 March 2019 and the subsequent registration of the Court Order with the Registrar of Companies on 14 March 2019, both the cancellation of the share premium account and the cancellation of the Redeemable Preference Shares have now become effective.

For Further Information

Sustainable Development Capital LLP  Jonathan Maxwell  Miles Alexander  Keith Driver	T: [phone]
Jefferies International Limited  Gary Gould  Tom Hovanessian	T: [phone]
TB Cardew  Ed Orlebar  Emma Crawshaw	T: [phone] / E: [e-mail] M: [phone]

About SEEIT (www.sdcleeit.com)

The SDCL Energy Efficiency Income Trust is the first listed company of its kind to invest exclusively in the energy efficiency sector. Having raised £100 million gross proceeds in its London Stock Exchange IPO in December 2018, the Company acquired its seed portfolio later that month for a total cash commitment of £87 million. Examples of the projects in the seed portfolio include Combined Cooling/Heating and Power Plants ("CCHP") at a Citi data centre and St Bartholomew's Hospital in London, as well as LED lighting projects for hundreds of Santander properties and over 100 NCP car parks in the UK.

SEEIT aims to deliver shareholders value through its investment in a diversified portfolio of Energy Efficiency projects which are driven by the opportunity to deliver lower cost, cleaner and more reliable energy solutions to end users of energy. 

SEEIT aims to give investors an attractive total return of 7-8 per cent. per annum with a stable dividend income, capital preservation and the opportunity for capital growth.

Investment Manager

SEEIT's investment manager is Sustainable Development Capital LLP ("SDCL"), an investment firm established in 2007, with a proven track record of investment in energy efficiency and decentralised generation projects in the UK, Continental Europe, North America and Asia.

SDCL is headquartered in London and the group also operates worldwide from offices in New York, Dublin and Singapore. SDCL is authorised and regulated in the UK by the Financial Conduct Authority.                

 

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