REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Update on AGM Continuation Vote

Aquila European RenewablesAnnouncement

14/12/2023 16:00

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RNS Number : 8852W  Aquila European Renewables PLC  14 December 2023

Aquila European Renewables plc

 

Update on Annual General Meeting Continuation Vote

 

In accordance with Provision 4 of the AIC Corporate Governance Code, Aquila
European Renewables plc ('the Company') is providing this update in light of
the fact that 25.88% of votes were cast against the continuation vote
(Resolution 4) at its AGM held on 14 June 2023 which, being in excess of 20%
of the votes cast, is considered significant in accordance with the AIC Code.

 

The Company's RNS announcement of 14 June 2023 detailed the results of all the
resolutions put to shareholders at the AGM, including the results of
Resolution 4, and noted that the Board would consult with the Company's
shareholders to gain a greater understanding of their concerns.

 

The Board has had an opportunity to consult with its major shareholders to
understand their concerns and is working towards addressing those concerns. As
previously announced, the Board and its advisers will continue to explore a
number of different initiatives to help address the issues facing the sector
and secure recognition in the Company's share price of the real underlying
value of the portfolio. The Board intends to provide shareholders with a
second opportunity to vote on the Company's continuation at a shareholder
meeting expected to be held in September 2024.

 

For further information please contact:

 

Numis (Sponsor, Broker and Placing Agent and Euronext Growth Listing
Sponsor)

Tod Davis
 
                 020 7260 1000

David Benda

 

Apex Listed Companies Services (UK) Limited (Company
Secretary)                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 wind, solar PV and hydropower investments across continental
Europe and Ireland. Through the diversification of generation technologies,
the seasonal production patterns of these asset types complement each other to
balance the cash flow, while the geographic diversification serves to reduce
exposure to one single energy market. In addition, a balance is maintained
between government supported revenues, fixed price power purchase agreements
and market power price risk.

 

www.aquila-european-renewables.com (http://www.aquila-european-renewables.com)

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