Cancellation of Scrip Dividend Alternative

Renewables Infrastructure Grp (The)

07 June 2023

 

7 June 2023

The Renewables Infrastructure Group Limited (the "Company")

Cancellation of Scrip Dividend Alternative

In accordance with the terms and conditions of the Scrip Dividend Alternative and the Directors' power to cancel the Scrip Dividend Alternative where a change in market conditions might, in the reasonable opinion of the Directors, render the Scrip Dividend Alternative materially detrimental to those Shareholders electing for it, the Board has decided to cancel the Scrip Dividend Alternative in respect of the Q1 Dividend as the mid-market closing price of an Ordinary Share as at 6 June 2023 (being the day before the Relevant Quarterly Dividend Reference Date) was at a discount greater than 10% discount to the Relevant Quarterly Scrip Share Reference Price  which was announced on 18 May 2023 (being the prevailing Net Asset Value per Ordinary Share of 134.8p as at 31 March 2023). Accordingly, Shareholders will receive the Full Cash Dividend in respect of the Q1 Dividend and, should they so wish, can choose to apply this in acquiring Ordinary Shares in the secondary market.

Capitalised terms shall have the meanings given to them in the Scrip Dividend Circular 2023 (the "Scrip Circular") available on the Company's website to view and/or download at: www.trig-ltd.com in the Investor Relations, 'Reports & Publications', 'Circulars' section.  The Scrip Circular is also available from the National Storage Mechanism website (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

The Board expects to re-instate the Scrip Dividend Alternative in respect of future quarterly dividends, subject to an assessment of the relevant prices and a determination that a re-instatement of the Scrip Dividend Alternative would be for the benefit of the Company's shareholders as a whole.

For further information, please contact:

Enquiries

Aztec Financial Services (Guernsey) Limited Chris Copperwaite Laura Dunning	[phone]
InfraRed Capital Partners Limited Richard Crawford Phil George	[phone]
Brunswick                                                                 Mara James	[phone]
Investec Bank Plc Lucy Lewis Tom Skinner	[phone]
BNP Paribas                                                               Virginia Khoo Carwyn Evans	[phone]

 

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