REG - Renew Infra Grp Ld - Issue of Equity

Renewables InfrastructureAnnouncement

12/03/2021 10:40

RNS Number : 0985S
  
Renewables Infrastructure Grp (The)
  
12 March 2021
  
 

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 885,012 Ordinary Shares (the "Management Ordinary Shares"), subject only to Admission (defined below).
 
The issue price per Management Ordinary Share is 113.61, which is the 31 December 2020 NAV of 115.3p 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"), 575,258 and 309,754 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 2020.
 
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 2020, elections for the scrip dividend alternative were received in respect of 133,284,586 of the Ordinary Shares in issue as at the record date of 12 February 2021.  As a consequence, the Company has today issued 1,758,014 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 2020 is available for inspection at the National Storage Mechanism 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.
 
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 2021 ("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 1,906,045,364 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
Chris Copperwaite
Laura Dunning
 


+44 (0)1481 748831
 




InfraRed Capital Partners Limited
Richard Crawford
Phil George
 


+44 (0) 20 7484 1800




Maitland/AMO
James Isola
Zara de Belder
 


+44 (0) 20 7379 5151




Investec Bank Plc
Lucy Lewis
Denis Flanagan
 


+44 (0) 20 7597 5661




Liberum Capital Limited
Chris Clarke
Gillian Martin
 


+44 (0) 20 3100 2000




 
 
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