Result of AGM

RNS Number : 8220U

SDCL Energy Efficiency Income Tst

31 July 2020

 

31 July 2020

SDCL Energy Efficiency Income Trust plc

("SEEIT" or the "Company")

Result of Annual General Meeting (the ''AGM'')

The Board of SDCL Energy Efficiency Income Trust plc is pleased to announce that at the Company's AGM held earlier today, all resolutions were voted on by a show of hands and were passed by shareholders.

Resolutions 1 to 8 were proposed as ordinary resolutions and Resolutions 9 to 11 were proposed as special resolutions.

Total proxy votes of 346,720,215 were cast and represent 81.36% of shares currently in issue. The proxy votes received in relation to the resolutions are noted as follows:

RESOLUTIONS		FOR	%	AGAINST	%	WITHHELD
1	2020 ANNUAL REPORT AND ACCOUNTS	346,720,215	100	-	-	-
2	DIRECTORS' REMUNERATION REPORT	346,710,481	100	9,734	-	-
3	RE-ELECT T ROPER	338,679,617	99.97	94,055	0.03	7,946,543
4	RE-ELECT H CLARKSON	346,720,215	100	-	-	-
5	RE-ELECT C KNOWLES	346,720,215	100	-	-	-
6	RE-APPOINTMENT OF AUDITORS	346,717,301	100	2,914	-	-
7	AUDITOR'S REMUNERATION	346,718,336	100	1,879	-	-
8	DIVIDEND POLICY	346,720,215	100	-	-	-
9	PURCHASE OF THE COMPANY'S OWN SHARES	346,718,336	100	1,879	-	-
10	AMENDMENT TO ARTICLES	346,718,336	100	1,879	-	-
11	NOTICE PERIOD FOR GENERAL MEETINGS	345,040,145	99.52	1,680,070	0.48	-

NOTES:

1.    All resolutions were passed.

2.  Proxy appointments which gave discretion to the Chairman of the AGM have been included in the "For" total for the appropriate resolution.

3.  A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against" any resolution.

4.  The full text of all the resolutions can be found in the Notice of Annual General Meeting dated 7 July 2020, a copy of which is available on the Company's website  at  https://www.sdcleeit.com/wp-content/uploads/2020/07/SEEIT-Notice-of-AGM.pdf .

5.  In accordance with Listing Rule 9.6.2, the full text of the resolutions passed at the AGM, other than ordinary business will be submitted to the National Storage Mechanism and will shortly be available for inspection at:   https://data.fca.org.uk/#/nsm/nationalstoragemechanism .  

For Further Information:

Sustainable Development Capital LLP Jonathan Maxwell Eugene Kinghorn Keith Driver	T: [phone]
Jefferies International Limited Tom Yeadon Gaudi le Roux	T: [phone]
TB Cardew Ed Orlebar Joe McGregor	T: [phone] M: [phone] E:  [e-mail]

About SEEIT

SDCL Energy Efficiency Income Trust plc is the first listed company of its kind to invest exclusively in the energy efficiency sector. Examples of the projects in the portfolio include combined cooling/heating and power plants, as well as energy efficiency projects in the UK and the US. Since acquisition of its seed portfolio at IPO, the Company has announced investment in a diversified portfolio of energy efficiency assets, including a portfolio of rooftop solar photovoltaic projects for Tesco in the UK and a portfolio of cogeneration assets in north east United States, which were identified as pipeline projects in its IPO prospectus, as well as an additional investment in a portfolio of energy efficiency loans in the United States, a portfolio of cogeneration assets in Spain and a portfolio of recycled energy and cogeneration projects in the United States.

The Company's total assets are primarily allocated across the UK, Europe and North America in broadly equal proportions.

The Company 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.

The Company is targeting an attractive total return for shareholders of 7-8 per cent. per annum (net of fees and expenses and by reference to the initial issue price of 1.00 per Ordinary Share), with a stable dividend income, capital preservation and the opportunity for capital growth. The Company is targeting a dividend of 5.5p per share in respect of the financial year to 31 March 2021. SEEIT's last published NAV was 101.0p per share as at 31 March 2020.

Further information can be found on the Company's website at  www.sdcleeit.com .

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, Hong Kong and Singapore. SDCL is authorised and regulated in the UK by the Financial Conduct Authority.

 

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