REG - Aquila Energy Effcn. - Shareholder Update

Aquila Energy Efficiency TrustAnnouncement

16/08/2023 07:00

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RNS Number : 4115J  Aquila Energy Efficiency Trust PLC  16 August 2023

The information contained in this announcement does not constitute an offer or
invitation for the sale or purchase of any securities or any of the business
or assets of the Company and it is not intended to form the basis of any
investment decision nor constitute or contain any recommendation by the
Company or Stifel or any of their respective directors, employees, agents or
advisers.

 

16 August 2023

Aquila Energy Efficiency Trust Plc

(the "Company")

Shareholder update

Portfolio sale process

At the Annual General Meeting of the Company (the "AGM") held on 14 June 2023,
shareholders voted in favour of the Company's change of investment policy (the
"New Investment Policy").  The Board has been reviewing strategic options for
the portfolio, including a sale of all of the Company's assets, and other
proposals that address the Company's size and liquidity. Accordingly, the
process to market test the portfolio sale is commencing today and is being
conducted by Stifel Nicolaus Europe Limited ("Stifel") on behalf of the
Company. Any enquiries in respect of the proposed portfolio sale process
should be directed to Stifel (details below).

Over the past few months, the Board has been assessing proposals and will
continue to do so in the context of delivering greater value to its
shareholders in a shorter timeframe than would otherwise be achieved under the
Managed Run-Off (as defined below).

The Board will keep shareholders updated on progress, as appropriate. There
can be no certainty as to the outcome of the proposals being explored nor
whether any potential transaction would be successfully completed.

 

Background

Following the AGM, and in accordance with the New Investment Policy, the
Company entered a managed run-off of its portfolio, meaning it is not making
any new investments (save for in limited circumstances as set out in the New
Investment Policy) and its investing activity is solely in respect of funding
legal commitments to existing investments (the "Managed Run-Off").

The Managed Run-Off was put forward as a resolution to shareholders in
response to the outcome of the Company's continuation vote held in February
2023, which did not pass.

 

For further information, please contact:

 Stifel Nicolaus Europe Limited (Sole Financial Adviser and Corporate Broker)  020 7710 7600

 Edward Gibson-Watt, Mark Young, Rajpal Padam, Madison Kominski                SNELProjectBloom@stifel.com

 Buchanan (Financial PR)                                                       020 7466 5000

 Charles Ryland, George Beale

 Apex Listed Companies Services (UK) Limited (Company Secretary)               020 3327 9720

 Sinead van Duuren

 

The Company's LEI is 213800AJ3TY3OJCQQC53

 

 

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