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 a proportion 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 818,326 Ordinary Shares (the "Management Ordinary Shares"), subject only to Admission (defined below).
The issue price per Management Ordinary Share is 121.5325p, which is the 30 June 2024 NAV of 123.4p less the 1.8675p 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"), 531,912 and 286,414 new Ordinary shares have been allotted to the Investment Manager and the Operations Manager respectively. This is for the period from 1 January to 30 June 2024.
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 30 September 2024 ("Admission").
Total Voting Rights
In light of the Company's ongoing share buyback programme (the terms of which were announced on 9 August 2024), the total number of Ordinary Shares with voting rights will be announced to the market following Admission, as defined above, in accordance with the Financial Condict Authority's Disclosure, Guidance and Transparency Rules for use by shareholders to determine if they are required to notify their interest in, or a change in their interest in the Company.
Enquiries
Aztec Financial Services (Guernsey) Limited
Chris Copperwaite
Laura Dunning
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+44 (0)1481 749700
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InfraRed Capital Partners Limited
Minesh Shah
Phil George
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+44 (0) 20 7484 1800
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Brunswick
Mara James
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+44 (0) 20 7404 5959
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Investec Bank Plc
Lucy Lewis
Denis Flanagan
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+44 (0) 20 7597 5661
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BNP Paribas
Virginia Khoo
Carwyn Evans
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+44 (0) 20 7595 9444
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Ends