Issue of Equity

RNS Number : 1120T

Renewables Infrastructure Grp (The)

15 March 2023

 

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 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 758,686 Ordinary Shares (the " Management Ordinary Shares "), subject only to Admission (defined below).

The issue price per Management Ordinary Share is 132.89, which is the 31 December 2022 NAV of 134.6p less the 1.71p 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 "), 493,146 and 265,540 new Ordinary shares have been allotted to the Investment Manager and the Operations Manager respectively. This is for the period from 1 July to 31 December 2022.

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 31 March 2023 ("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 2,483,583,248 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.

Enquiries

Aztec Financial Services (Guernsey) Limited Chris Copperwaite Laura Dunning	[phone]
InfraRed Capital Partners Limited Richard Crawford Phil George	[phone]
H/Advisors Maitland Rhys Jones Charles Withey	[phone]
Investec Bank Plc Lucy Lewis Denis Flanagan	[phone]
BNP Paribas Virginia Khoo Carwyn Evans	[phone]

Ends

 

END

 

 

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