REG - Renew Infra Grp Ld - Issue of Equity

Renewables InfrastructureAnnouncement

14/03/2022 12:15

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RNS Number : 6825E  Renewables Infrastructure Grp (The)  14 March 2022

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.

 

 

 

The Renewables Infrastructure Group Limited

 

Issue of Ordinary Shares under the Management Agreements, and pursuant to the
Scrip Alternative

and Total Voting Rights

 

Issue of Ordinary Shares under the Management Agreements

 

The Board of The Renewables Infrastructure Group Limited (the "Company")
announces that, in accordance with the terms of the management fee arrangement
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 857,254 Ordinary Shares (the "Management Ordinary Shares"), subject
only to Admission (defined below).

 

The issue price per Management Ordinary Share is 117.61, which is the 31
December 2021 NAV of 119.3p less the 1.69p dividend paid for the period.

 

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 Manager dated 5 July
2013 (the "Operations Management Agreement"), 557,216 and 300,038 new Ordinary
shares have been allotted to the Investment Manager and the Operations Manager
respectively. This is for the period from 1 July to 31 December 2021.

 

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.

 

Issue of Ordinary Shares pursuant to the Company's Scrip Dividend Alternative

 

The Board of the Company announces that, pursuant to the Company's scrip
dividend alternative in lieu of cash for the interim dividend for the three
months ended 31 December 2021, elections for the scrip dividend alternative
were received in respect of 132,791,532 of the Ordinary Shares in issue as at
the record date of 11 February 2022.  As a consequence, the Company has today
issued 1,750,412 Ordinary Shares (the "Scrip Shares"), subject only to
Admission (defined below).

 

When issued, the Scrip Shares will rank pari passu with the existing Ordinary
Shares.

 

A copy of the document relating to the Scrip Dividend Alternative dated 1
April 2021 is available for inspection at the National Storage Mechanism
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdata.fca.org.uk%2F%23%2Fnsm%2Fnationalstoragemechanism&data=04%7C01%7C%7Cd8d22e57509e474d531408da03569a04%7C5f75785019e44329bc48045f1fe3eecd%7C0%7C0%7C637825967726495579%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=eYVEoKkGAPHjlBYI0VCivKQysKT5pG4B5ksUY%2BOU8U8%3D&reserved=0)
 and can also be obtained from the Company Secretary or from the Investor
Relations section of the Company's website at www.trig-ltd.com
(http://www.trig-ltd.com) .

 

Admission

 

Application has been made for the Scrip Shares to be admitted to the premium
segment of the Official List and to trading on the London Stock Exchange's
main market for listed securities.  It is expected that dealings in the Scrip
Shares will commence at 8.00 a.m. on 31 March 2022 ("Admission").

 

Total Voting Rights

 

In accordance with the Financial Conduct Authority's Disclosure and
Transparency Rules, the total number of Ordinary Shares in issue on Admission
will be 2,269,854,081 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

 

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

 Chris Copperwaite

 Lucy Smith

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

 Richard Crawford

 Phil George

 Maitland/AMO                                 +44 (0) 20 7379 5151

 Rhys Jones

 Charles Withey

 Investec Bank Plc                            +44 (0) 20 7597 5661

 Lucy Lewis

 Denis Flanagan

 Liberum Capital Limited                      +44 (0) 20 3100 2000

 Chris Clarke

 Darren Vickers

 Owen Matthews

 

 

Ends

 

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