REG - Asian Energy Impact Asian Energy - AEIT Asian Energy - AEIP - Directorate Change

Asian Energy Impact TrustAnnouncement

22/04/2024 10:30

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RNS Number : 5126L  Asian Energy Impact Trust PLC  22 April 2024

LEI: 254900VC23329JCBR9G82

 

22 April 2024

 

Asian Energy Impact Trust plc

(the "Company" or "AEIT")

 

Directorate Change

 

The Board of the Company has been informed by Kirstine Damkjaer that,
following her appointment to a full-time position, she intends to step down
from all her non-executive positions as soon as practicable. Consequently, she
will step down from her directorship of the Company with effect from 30 April
2024.

 

As a result of the conclusion of the strategic review of the options for the
Company's future and the announcement of a proposed realisation strategy for
the Company, and cognisant of the need to minimise costs where possible, it is
not currently anticipated that a replacement will be recruited.

 

There are no other details or disclosures required under LR 9.6.13R of the
Financial Conduct Authority Listing Rules.

 

Sue Inglis, Chair of Asian Energy Impact Trust plc, said: "On behalf of the
Board I would like to thank Kirstine for the key role she has played in our
IPO and through recent, more challenging, times. We greatly appreciate her
efforts as the Company navigated the events of a turbulent year and the
support she provided to Board colleagues and we wish her well in her new
role."

 

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)

 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)

 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 has invested in a portfolio of unlisted sustainable solar energy
infrastructure assets, 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.

 

On 11 April 2024, the Board announced that, following a comprehensive
strategic review of options for the Company's future, it had 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.

 

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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