Renew Infra Grp Ld - Issue of Equity

Renewables Infrastructure

13/03/2025 16:52

RNS Number : 6206A

Renewables Infrastructure Grp (The)

13 March 2025

 

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 881,732 Ordinary Shares (the "Management Ordinary Shares"), with allotment to take place on 31 March 2025 out of the Treasury shares held by the Company.

 

The issue price per Management Ordinary Share is 114.0325p, which is the 31 December 2024 NAV of 115.9p less the 1.8675p 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"), 573,126 and 308,606 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 2024.

 

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.

 

Total Voting Rights

 

In light of the Company's ongoing share buyback programme (the terms of which were announced on 9 August 2024), the total number of Ordinary shares with voting rights will be announced to the market following the allotment date of 31 March 2025, in accordance with the Financial Conduct Authority's Disclosure, Guidance and Transparency Rules for use by shareholders to determine if they are required to notify their interest in, or a change in their interests in the Company.

 

Enquiries

 

Aztec Financial Services (Guernsey) Limited
Chris Copperwaite
Laura Dunning
+44 (0)1481 749700
InfraRed Capital Partners Limited
Minesh Shah
Phil George
+44 (0) 20 7484 1800
Brunswick
Mara James
+44 (0) 20 7404 5959
Investec Bank Plc
Lucy Lewis
Tom Skinner
+44 (0) 20 7597 5661
BNP Paribas
Virginia Khoo
Carwyn Evans
+44 (0) 20 7595 9444

 

 

Ends

 

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