Greencoat Renewables - Result of EGM

Greencoat Renewables

13/10/2022 11:30

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RNS Number : 8195C  Greencoat Renewables PLC  13 October 2022

 

 

Greencoat Renewables PLC EGM Result

 

Dublin, London, 13 October 2022: Greencoat Renewables PLC ("Greencoat
Renewables" or the "Company") the renewable infrastructure company invested in
euro-dominated assets, is pleased to announce that at the Company's EGM held
at 10.00 am today, 13 October 2022, the Resolution was duly passed without
amendment.

 

The resolution as set out in the Notice of EGM was voted on by way of a poll
and the result was as follows:

 

             In Favour                            Against              Withheld*

             (including discretionary)
 Resolution  Votes           %               Votes      %          Votes
 1           785,568,255     100             0          0          6,150,000

 

*A vote withheld is not a vote in law and is therefore not counted towards the
proportion of votes "in favour" or "against" the Resolution.

 

The full wording of the resolution can be found below:-

 

SPECIAL BUSINESS

 

To consider and, if thought fit, to pass the following resolution as an
ordinary resolution:

 

That the Company be and is hereby generally and unconditionally authorised to
amend its investment policy as set out at paragraph 3.1 of Part 1 of the
admission document issued by the Company on 20 July 2017 and as amended at
(i) the Annual General Meeting on 29 April 2020, (ii) the Annual General
Meeting on 29 April 2021, and (iii) the Extraordinary General Meeting on 17
September 2021 (the "Investment Policy"), by the deletions shown below:

"After 24 months from Admission: (i) the Company shall continue to invest:
such investments in Ireland shall represent, in aggregate, not less than 60
per cent. of the Gross Asset Value (calculated immediately following each
investment); and (ii) subject to the preceding paragraph (i), the Company may
also invest: (a) in aggregate, up 40 per cent. of the Gross Asset Value
(calculated immediately following each investment) in operational wind energy
assets or operational solar PV assets in Ireland and Other Relevant Countries;
and / or (b) in aggregate, up to 10 per cent. of the Gross Asset Value
(calculated immediately following each investment) in Ireland and Other
Relevant Countries: (1) in wind energy assets or solar PV assets under
construction; or (2) in assets that are in other forms of energy technologies
(or infrastructure that is complementary to, or supports the roll-out of,
renewable energy generation). Over time, the Company will invest in both
onshore and offshore wind farms with the amount invested in offshore wind
farms being capped, in aggregate, at 40 per cent. of the Gross Asset Value
(calculated immediately following each investment)."

 

The full text the of resolution and a summary of the poll votes received will
shortly be available on the Company's website and will also be submitted to
the National Storage Mechanism for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

--- ENDS ---

 

            For further information on the Announcement, please
contact:

 

            Greencoat Renewables
PLC:
+44 20 7832 9400

            Bertrand Gautier

            Paul O'Donnell

            Tom Rayner

 

            Davy (Joint Broker, Nomad and

            Euronext Growth Listing
Sponsor)
+353 1 6796363

            Ronan Veale

            Barry Murphy

 

            RBC (Joint
Broker)
                +44 20 7653 4000

            Matthew Coakes

            Duncan Smith

            Elizabeth Evans

 

            FTI Consulting (Media
Enquiries)
greencoat@fticonsulting.com (mailto:greencoat@fticonsulting.com)

            Melanie Farrell

            Orla Cox

 

            About Greencoat Renewables PLC

            Greencoat Renewables PLC is an investor in
euro-denominated renewable energy infrastructure assets. Initially focused
solely on the acquisition and management of operating wind farms in Ireland,
the Company is now also investing in wind and solar assets in certain other
Northern European countries with stable and robust renewable energy
frameworks. It is managed by Greencoat Capital LLP, an experienced investment
manager in the listed renewable energy infrastructure sector.

 

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