Further Investment Management Update

RNS Number : 5618D

Octopus Renewables Infra Trust PLC

30 June 2021

 

30 June 2021

LEI: 213800B81BFJKWM2JV13

Octopus Renewables Infrastructure Trust plc

("ORIT" or the "Company")

Further Investment Management Update

Further to the Company's announcements on 26 March 2021 and 10 June 2021 and the Company's prospectus published on 10 June 2021, the Company's Investment Manager has changed from Octopus Investments Limited to Octopus Renewables Limited with effect from 29 June 2021.

On launch in November 2019, the Company appointed Octopus AIF Management Limited, a member of the Octopus Group, as the alternative investment fund manager of the Company for the purposes of the UK AIFM Regime (the "AIFM"). The AIFM is responsible for the portfolio management of the Company and for exercising the risk management function in respect of the Company.

The AIFM delegates portfolio management services to the Company's Investment Manager. Prior to this change of investment manager, these services were provided by Octopus Investments Limited, and specifically, the Octopus Renewables team. The Company has entered into a revised management agreement (the "Management Agreement") with the AIFM to reflect the change of Investment Manager from Octopus Investments Limited to Octopus Renewables Limited.

There is no change to Octopus Renewables' leadership or people, and specifically, the Company's investment management team will remain the same and service levels will be uninterrupted by the transaction. There is no change to the Company's AIFM, the term of the Management Agreement or the fees payable by the Company under the Management Agreement.

The acquisition of Octopus Renewables Limited by Octopus Energy Group (the "Octopus Reorganisation") is expected to complete in early July 2021 and a further announcement will be made on completion of the Octopus Reorganisation.

For further information please contact:

Octopus Renewables Limited (Investment Manager) Matt Setchell, Chris Gaydon, David Bird	Via Buchanan
Peel Hunt (Broker) Liz Yong, Luke Simpson, Huw Jeremy, Tom Pocock (Investment Banking) Alex Howe, Chris Bunstead, Ed Welsby, Richard Harris (Sales)	020 7418 8900
Buchanan (Financial PR) Charles Ryland, Kelsey Traynor, Hannah Ratcliff	020 7466 5000
PraxisIFM ( Company Secretary )	020 4513 9260

Definitions

Octopus Energy Group	Octopus Energy Group Limited and its subsidiaries from time to time, including, with effect from completion of the Octopus Reorganisation, Octopus Renewables Limited
Octopus Group	Octopus Capital and its subsidiaries from time to time, including the AIFM, Octopus Investments Limited and, until completion of the Octopus Reorganisation, Octopus Renewables Limited
Octopus Renewables	a business of Octopus Group that will be transferred to Octopus Energy Group on completion of the Octopus Reorganisation

Notes to editors

About Octopus Renewables Infrastructure Trust

Octopus Renewables Infrastructure Trust plc is a closed-ended investment company incorporated in England and Wales focused on providing investors with an attractive and sustainable level of income returns, with an element of capital growth, by investing in a diversified portfolio of renewable energy assets in Europe and Australia.

Further details can be found at www.octopusrenewablesinfrastructure.com

About Octopus Renewables

Octopus Renewables is a specialist clean energy investor. Launched in 2010 its mission is to accelerate the transition to a future powered by renewable energy. It has a diverse portfolio of assets with a capacity of over 2.8GW, making it the largest commercial solar investor in Europe and a leading investor in onshore wind.

Octopus Renewables is also leading the next wave of renewables being built across Europe and Australia without government subsidies. There is a significant opportunity to unblock much needed investment by building bespoke portfolios of renewable assets at scale, across technologies and countries, to create better outcomes for our investors.

Further details can be found at www.octopusrenewables.com

Neither the content of any website referred to in this announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this announcement.

 

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