REG - Renew Infra Grp Ld - Cancellation of Scrip Dividend Alternative

Renewables InfrastructureAnnouncement

06/09/2023 07:00

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RNS Number : 4482L  Renewables Infrastructure Grp (The)  06 September 2023

6 September 2023

 

The Renewables Infrastructure Group Limited (the "Company")

 

 

Cancellation of Scrip Dividend Alternative

 

In accordance with the terms and conditions of the Scrip Dividend Alternative
and the Directors' power to cancel the Scrip Dividend Alternative where a
change in market conditions might, in the reasonable opinion of the Directors,
render the Scrip Dividend Alternative materially detrimental to those
Shareholders electing for it, the Board has decided to cancel the Scrip
Dividend Alternative in respect of the Q2 Dividend as the mid-market closing
price of an Ordinary Share as at 5 September 2023 (being the day before the
Relevant Quarterly Dividend Reference Date) was at a discount greater than 10%
discount to the Relevant Quarterly Scrip Share Reference Price  which was
announced on 17 August 2023 (being the prevailing Net Asset Value per Ordinary
Share of 132.2p as at 30 June 2023). Accordingly, Shareholders will receive
the Full Cash Dividend in respect of the Q2 Dividend and, should they so wish,
can choose to apply this in acquiring Ordinary Shares in the secondary market.

 

Capitalised terms shall have the meanings given to them in the Scrip Dividend
Circular 2023 (the "Scrip Circular") available on the Company's website to
view and/or download at: www.trig-ltd.com (http://www.trig-ltd.com) in the
Investor Relations, 'Reports & Publications', 'Circulars' section.  The
Scrip Circular is also available from the National Storage Mechanism website
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) ).

 

The Board expects to re-instate the Scrip Dividend Alternative in respect of
future quarterly dividends, subject to an assessment of the relevant prices
and a determination that a re-instatement of the Scrip Dividend Alternative
would be for the benefit of the Company's shareholders as a whole.

 

 

For further information, please contact:

 

Enquiries

 

 Aztec Financial Services (Guernsey) Limited                                                                                                +44 (0)1481 748831

 Chris Copperwaite

 Laura Dunning

 InfraRed Capital Partners Limited                                                                                                          +44 (0) 20 7484 1800

 Richard Crawford

 Phil George

 Brunswick                                                                                                                                  +44 (0) 20 7404 5959

 Mara James

 Investec Bank Plc                                                                                                                          +44 (0) 20 7597 5661

 Lucy Lewis

 Tom Skinner

 BNP                                                                                                                                        +44 (0) 20 7595 9444
 Paribas

 Virginia Khoo

 Carwyn Evans

 

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