REG - Renew Infra Grp Ld - Issue of Equity <Origin Href="QuoteRef">TRIG.L</Origin>

Renewables InfrastructureAnnouncement

29/10/2014 13:49

RNS Number : 3766S
Renewables Infrastructure Grp (The)
23 September 2014
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
23 September 2014
The Renewables Infrastructure Group Limited
Issue of Ordinary Shares under the Management Agreements,
Shareholdings of Managers and Total Voting Rights
The Board of The Renewables Infrastructure Group Limited (the "Company") announces that, in accordance with the terms of the management fee arrangements with InfraRed Capital Partners Limited (the "Investment Manager") and Renewable Energy Systems Limited (the "Operations Manager") under which 20 per cent. of the management fee is payable in new ordinary shares of no par value in the capital of the Company ("Ordinary Shares"), it has today issued in aggregate 319,205 Ordinary Shares (the "Management Ordinary Shares"), subject only to Admission (defined below). 
The issue price per Management Ordinary Share is 99.3p (being the most recently published net asset value of 102.3p net asset value per share as at 30 June 2014, less the interim dividend of 3.0p per Ordinary Share).
Application has been made for the Management Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the main market of the London Stock Exchange. It is expected that dealings in the Management Ordinary Shares will commence at 8.00 a.m. on 26 September 2014 ("Admission").
Pursuant to the terms of (a) the Investment Management Agreement between, inter alia, the Company and the Investment Manager dated 5 July 2013 (the "Investment Management Agreement") and (b) the Operations Management Agreement between, inter alia, the Company and the Operations Manager and dated 5 July 2013 (the "Operations Management Agreement"), 207,483 and 111,722 new ordinary shares of no par value each in the capital of the Company ("Ordinary Shares") have been allotted to the Investment Manager and the Operations Manager respectively, subject to Admission. This is for the period from 1 January to 30 June 2014.
The Ordinary Shares allotted and issued to the Investment Manager and Operations Manager set out above are subject to a lock up of one year from Admission.
Manager share holdings
Following Admission, the beneficial interests of the Investment Manager and the Operations Manager (both of which have day-to-day management responsibilities in connection with the services provided to the Company and its subsidiaries) were as follows:
Entity
Number of Ordinary Shares
% of issued share capital on Admission
InfraRed Capital Partners Limited
360,461
0.0874
Renewable Energy Systems Limited
15,072,970
3.6529
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of Ordinary Shares in the capital of the Company in issue on Admission will be 412,633,923, each with one voting right. No Ordinary Shares are held in treasury.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules. 
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Matt Dimond
Phil George
Tulchan Communications +44 (0) 20 7353 4200
Martha Walsh
Victoria Huxster
Canaccord Genuity Limited +44 (0) 20 7523 8000
Andrew Zychowski
Lucy Lewis
Jefferies International Limited +44 (0) 20 7029 8000 
Gary Gould
Alex Collins 
Stuart Klein
Ends

This information is provided by RNS
The company news service from the London Stock Exchange
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