REG - Aquila Eur Renwables Octopus Renewables Aquila Euro Rnw-AERI - Response to Octopus Renewables Infra announcement

Aquila European RenewablesAnnouncement

22/12/2023 08:45

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RNS Number : 7753X  Aquila European Renewables PLC  22 December 2023

22 December 2023

Aquila European Renewables plc ("AERI", or the "Company")

Response to announcement regarding the proposed combination with Octopus
Renewables Infrastructure Trust plc ("ORIT")

The Board of AERI notes the announcement released today by ORIT (the "ORIT
Proposed Combination Announcement") proposing that AERI undertake a scheme of
reconstruction pursuant to section 110 of the Insolvency Act 1986 (the "ORIT
Proposed Combination") in order to combine with ORIT. AERI confirms it has
received unsolicited proposals from ORIT in relation to a possible combination
on a to be defined formula asset value for formula asset value basis.

AERI announced on 14 December 2023 that, together with its advisers, it
continues to explore a number of different initiatives to address the issues
facing the sector and to secure recognition in the Company's share price of
the real underlying value of the Company's portfolio.

In connection with this, the Board of AERI has also committed to consider
broader options for the future of the Company, including the possible
combination with another listed investment company by way of a section 110 of
the Insolvency Act 1986. It is the Board's intention to consider the ORIT
Proposed Combination as part of this wider process early in the New Year.

The Board of AERI will make further announcements when appropriate.

For further information please contact:

Deutsche Numis (Financial Adviser and Broker)

David
Benda
+44 020 7260 1000

Stuart Ord

George Shiel

Media contacts

Edelman Smithfield

Ged Brumby 07540-412301

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 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.

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