REG - Renew Infra Grp Ld - Issue of Equity

Renewables InfrastructureAnnouncement

21/03/2024 10:30

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RNS Number : 7937H  Renewables Infrastructure Grp (The)  21 March 2024

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 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 a
proportion 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 800,776 Ordinary Shares (the "Management Ordinary Shares"),
subject only to Admission (defined below).

 

The issue price per Management Ordinary Share is 125.905p, which is the 31
December 2023 NAV of 127.7p less the 1.795p 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"), 520,504 and 280,272 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 2023.

 

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.

 

Admission

 

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 London Stock
Exchange's main market for listed securities.  It is expected that dealings
in the Management Ordinary Shares will commence at 8.00 a.m. on 28 March 2024
("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 2,485,144,560 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 749700

 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

 Denis Flanagan

 BNP Paribas                                                                                                        +44 (0) 20 7595 9444

 Virginia Khoo

 Carwyn Evans

 

 

Ends

 

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