REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Company Update

Aquila European RenewablesAnnouncement

26/02/2024 07:00

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RNS Number : 3379E  Aquila European Renewables PLC  26 February 2024

26 February 2024

 

Aquila European Renewables PLC

Company Update

 

Further to previous announcements noting the Board's intention to consider
broader options for the future of the Company, it is pleased to announce that
this process, including the consideration of a potential combination of the
Company with another listed investment company by way of section 110 of the
Insolvency Act 1986 ("s110 combination"), has commenced.

 

Following the receipt and review of a number of indications of interest in a
s110 combination, the Board has instructed its advisers, Deutsche Numis, to
commence a process of mutual due diligence with multiple interested parties.
Shareholders should note that the engagement with parties interested in a s110
combination with the Company is still at a relatively early stage and
therefore there can be no certainty that this process will result in a
combination on terms which the Board considers to be in the best interests of
shareholders as a whole.

 

The Board expects to announce the full year results to 31 December 2023 in
April 2024 at which point it will provide a further update, if not earlier, as
the Board considers appropriate.

 

For further information please contact:

 

Deutsche Numis (Financial Adviser and Broker) +44 020 7260 1000

David
Benda

Stuart Ord

George Shiel

 

Media contacts

Edelman Smithfield

 

Ged Brumby 07540 412 301

Hamza Ali 07976 308 914

 

Apex Listed Companies Services (UK) Limited (Company Secretary) +44 020 3327
9720

 

LEI Number: 213800UKH1TZIC9ZRP41

 

NOTES

 

The objective of Aquila European Renewables plc is to provide investors with
an attractive long-term, income-based return in EUR through a diversified
portfolio of onshore wind, solar PV and hydropower investments across
continental Europe and Ireland. As a result of the diversification of energy
generation technologies, the seasonal production patterns of these asset types
complement each other, providing a balanced cash flow profile, while the
geographic diversification serves to reduce exposure to any one single energy
market. In addition, a balance is maintained between government supported
revenues, fixed price power purchase agreements and market power price risk.
AER is targeting a dividend of 5.51 cents per share in relation to the
financial year ending 31 December 2023, with the aim of increasing this
dividend progressively over the medium term.

 

Further details can be found at: www.aquila-european-renewables.com
(http://www.aquila-european-renewables.com) .

 

 

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