REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Update re: Investment Adviser

Aquila European RenewablesAnnouncement

18/01/2024 18:15

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RNS Number : 2138A  Aquila European Renewables PLC  18 January 2024

Aquila European Renewables PLC

18 January 2024

Update re: Investment Adviser

 

Aquila European Renewables plc ("AER" or "the Company"), the London-listed
investment company advised by Aquila Capital Investmentgesellschaft mbH
("Investment Adviser"), notes the announcement today that the Investment
Adviser and Commerzbank have entered into a strategic partnership aimed at
significantly accelerating Aquila Capital Investmentgesellschaft's growth and
developing the Investment Adviser into one of the leading asset managers for
sustainable investment strategies in Europe. As part of this partnership,
Commerzbank will acquire a 74.9% stake in the Investment Adviser with the
Aquila Group remaining permanently engaged as a shareholder with its remaining
shareholding. The partnership ensures the managerial independence of the
Company's  Investment Adviser as it will remain autonomous in terms of
operations, investment decisions, product development and brand
representation. The existing management and fund management teams responsible
for the Company will remain unchanged.

 

The transaction is subject to the required regulatory approvals and is
expected to close in the second quarter 2024.

 

For further details contact:

 

Media Contacts

Edelman Smithfield

Ged Brumby 07540 412301

 

Sponsor, Broker and Placing Agent

Numis Securities 020 7260 1000

Tod Davis

David Benda

 

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

 

NOTES

 

About AER

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) .

 

LEI Number: 213800UKH1TZIC9ZRP41

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