REG - Gresham House REVCT - Update on Sale of Solar Assets

Gresham House Renewable Energy VCT 1Announcement

23/03/2022 11:00

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RNS Number : 7530F  Gresham House Renewable EnergyVCT1  23 March 2022

23 March 2022

 

GRESHAM HOUSE RENEWABLE ENERGY VCT 1 PLC

(the "Company", the "VCT")

 

Update on Sale of Solar Assets

 

The Company would like to provide the following update with regards to the
sale of the VCT's solar assets.

The Company appointed EY to advise on the sale of these assets in June last
year and EY conducted a competitive bidding process on the Company's behalf.
As a result of this process, a potential buyer of credible standing was
selected and they were given exclusivity to complete the purchase of the
assets by the end of February. Unfortunately the sale process has slowed due
to a number of issues that have arisen during due diligence which will take
time to resolve.

The Board are still actively pursuing the sale with the selected potential
buyer, however, this will take longer to complete than anticipated. The Board
remains committed to delivering the best possible value to shareholders at
the earliest opportunity.

 

 

END

 

For further information, please contact:

 Gresham House Asset Management  renewablevcts@greshamhouse.com (mailto:renewablevcts@greshamhouse.com)
 Investor Relations              Tel: 020 3875 9860

 JTC (UK) Limited                GreshamVCTs@jtcgroup.com (mailto:GreshamVCTs@jtcgroup.com)
 Company Secretary
Tel: 020 3846 9774

 

 

LEI: 213800IVQHJXUQBAAC06

 

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