REG - Asian Energy Impact Asian Energy - AEIT Asian Energy - AEIP - Conclusion of the Strategic Review

Asian Energy Impact TrustAnnouncement

11/04/2024 07:00

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RNS Number : 1129K  Asian Energy Impact Trust PLC  11 April 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT MAY CONSTITUTE INSIDE
INFORMATION AS STIPULATED UNDER THE UK'S MARKET ABUSE REGULATION. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN.

 

LEI: 254900VC23329JCBR9G82

 

11 April 2024

 

Asian Energy Impact Trust plc

(the "Company" or "AEIT")

 

Conclusion of the Strategic Review

 

Further to previous announcements, the Board has concluded its strategic
review of the options for the Company's future. Following careful
consideration of the options available to the Company after consultation with
its advisers and having taken into account feedback from investors
representing a significant proportion of AEIT's issued share capital, the
Board has concluded that it is in the best interests of shareholders as a
whole to put forward a proposal for the orderly realisation of AEIT's assets,
to be effected in a manner that seeks to achieve a balance between maximising
the value of its investments and progressively returning cash to shareholders
in a timely manner (the "Proposal"). The Proposal, on which further details
will be provided in due course, will be subject to shareholder approval at a
general meeting, which is expected to be held in Q2 2024.

 

The Board expects that, subject to shareholders approving the Proposal,
Octopus Energy Generation, the Company's transitional investment manager, will
be appointed to continue to manage AEIT's investments and their orderly
realisation.

 

Sue Inglis, Chair of Asian Energy Impact Trust plc, said: "The Board is
grateful for shareholders' support during a difficult period for the Company.
Although the Board and many shareholders continue to believe in the Company's
fundamental mission, following a comprehensive strategic review, the Board has
concluded that an orderly realisation of the Company's investments and the
progressive return of surplus cash to shareholders is now the best option for
shareholders as a whole."

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Uloma Adighibe of JTC (UK) Limited, the Company
Secretary.

 

Enquiries:

 

 Asian Energy Impact Trust plc                                      Tel: +44 (0)20 3757 1892

 Sue Inglis, Chair

 Octopus Energy Generation                                          Tel: +44 (0)20 4530 8369

 Press Office

 Shore Capital (Joint Corporate Broker)                             Tel: +44 (0)20 7408 4050

 Mark Percy / Gillian Martin / Rose Ramsden (Corporate)

 Adam Gill / Matthew Kinkead / William Sanderson (Sales)

 Fiona Conroy (Corporate Broking)

 Peel Hunt LLP (Joint Corporate Broker)                             Tel: +44 (0)20 7418 8900

 Luke Simpson / Huw Jeremy (Investment Banking Division)

 Alex Howe / Richard Harris / Michael Bateman / Ed Welsby (Sales)

 Smith Square Partners LLP                                          Tel: +44 (0)20 3696 7260

 (Financial Adviser to the Company)

 John Craven / Douglas Gilmour

 Camarco (PR Adviser)                                               Tel: +44 (0)20 3757 4982

 Louise Dolan / Eddie Livingstone-Learmonth / Phoebe Pugh           asianenergyimpacttrust@camarco.co.uk
                                                                    (mailto:asianenergyimpacttrust@camarco.co.uk)

 

About Asian Energy Impact Trust plc

 

Asian Energy Impact Trust plc ("AEIT" or the "Company", formerly ThomasLloyd
Energy Impact Trust plc) is a closed‑ended investment company incorporated
in England and Wales.

 

The Company's ordinary shares were admitted to the premium listing segment of
the Official List of the Financial Conduct Authority and to trading on the
premium listing segment of the main market of the London Stock Exchange on
14 December 2021.

 

The Company has a triple return investment objective which consists of:

(i)      providing shareholders with attractive dividend growth and
prospects for long-term capital appreciation   (the financial return);

(ii)      protecting natural resources and the environment (the
environmental return); and

(iii)     delivering economic and social progress, helping build resilient
communities and supporting purposeful    activity (the social return).

 

The Company seeks to achieve its investment objective by investing in a
diversified portfolio of unlisted sustainable energy infrastructure assets in
the areas of renewable energy power generation, transmission infrastructure,
energy storage and sustainable fuel production, with a geographic focus on
fast‑growing and emerging economies in Asia.

 

With effect from 1 November 2023, the Company appointed Octopus Energy
Generation as its transitional investment manager until 30 April 2024.

 

About Octopus Energy Generation

 

Octopus Energy Generation is driving the renewable energy agenda by building
green power for the future. Its London-based, leading specialist renewable
energy fund management team invests in renewable energy assets and broader
projects helping the energy transition, across operational, construction and
development stages. The team was set up in 2010 based on the belief that
investors can play a vital role in accelerating the shift to a future powered
by renewable energy. It has a 13-year track record with approximately £6
billion of assets under management (AUM) (as of September 2023) across 16
countries and total 3.2GW. These renewable projects generate enough green
energy to power 2.3 million homes every year, the equivalent of taking over
1.2 million petrol cars off the road. Octopus Energy Generation is the trading
name of Octopus Renewables Limited. 

 

Further details can be found at  www.octopusenergygeneration.com
(https://url.avanan.click/v2/___http:/www.octopusenergygeneration.com/___.YXAxZTpzaG9yZWNhcDphOm86YWU5MjAzMTY0ODg2OGJjYzQ1NDUwNTU1OGVmZTc0ZmY6NjoyOTI1OmQyNWZmZDNlNzk1MmRhMGYxNTFmYzFkZjgyMmE2OWRiODBjZGQ5MmZmYTg2YTBjNzBjY2JmZGExZDhiNDM1N2M6cDpU)

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