REG - SDCL Energy Effcncy. - Purchase of Shares by Investment Manager

SDCL Energy Efficiency Income TrustAnnouncement

15/12/2023 07:00

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RNS Number : 9061W  SDCL Energy Efficiency Income Tst  15 December 2023

15 December 2023

SDCL Energy Efficiency Income Trust plc

("SEEIT" or the "Company")

Purchase of shares in Company by Investment Manager

Sustainable Development Capital LLP ("SDCL"), the Investment Manager of SDCL
Energy Efficiency Income Trust plc, has acquired 1,000,000 Ordinary Shares
(approx. £0.6 million) of Ordinary Shares in the Company at a price of 62
pence per share, via a wholly owned subsidiary. Following the purchase and
settlement of these shares, the SDCL group owns 1,000,001 Ordinary Shares in
the Company, which represents approximately 0.1% of the Ordinary Shares in
issue at this date.

Jonathan Maxwell, CEO of Sustainable Development Capital LLP, said:

 

"Our purchase of SEEIT shares in the market underscores our confidence in the
value of the Company's large, unique and diversified portfolio of over £1
billion of energy efficiency projects. As Investment Manager, we believe that
the shares represent exceptional value given the high dividend yield, covered
by cash flow, and a substantial discount to net asset value. The purchase
follows share purchases by members of management and the board throughout
2023.

We believe that SEEIT is well positioned to benefit from the acceleration in
the energy efficiency market. Energy efficiency is the largest, fastest,
cheapest and cleanest source of greenhouse gas emission reductions, as well as
energy cost reductions and energy security. Strong policy support in the
United States and Europe is now reinforced by the outcome of the UN climate
change conference, COP28, which for the first time calls for a doubling of the
rate of energy efficiency improvements alongside a tripling of renewable
energy, as the first priorities to achieve decarbonisation."

For Further Information

 

 Sustainable Development Capital LLP  T: +44 (0) 20 7287 7700

 Jonathan Maxwell

 Eugene Kinghorn

 Purvi Sapre

 Toby Richardson

 Jefferies International Limited      T: +44 (0) 20 7029 8000

 Tom Yeadon

 Gaudi Le Roux

 TB Cardew                            T: +44 (0) 20 7930 0777

 Ed Orlebar                           M: +44 (0) 7738 724 630

 Henry Crane                          E: SEEIT@tbcardew.com (mailto:SEEIT@tbcardew.com)

 

 

 

About SEEIT

SDCL Energy Efficiency Income Trust plc is a constituent of the FTSE 250
index. It was the first UK listed company of its kind to invest exclusively in
the energy efficiency sector. Its projects are primarily located in the UK,
Europe and North America and include, inter alia, a portfolio of cogeneration
assets in Spain, a portfolio of commercial and industrial solar and storage
projects in the United States, a regulated gas distribution network in Sweden
and a district energy system providing essential and efficient utility
services on one of the largest business parks in the United States.

The Company aims to deliver shareholders value through its investment in a
diversified portfolio of energy efficiency projects which are driven by the
opportunity to deliver lower cost, cleaner and more reliable energy solutions
to end users of energy.

Past performance cannot be relied on as a guide to future performance.

Further information can be found on the Company's website at www.seeitplc.com
(http://www.seeitplc.com) .

Investment Manager

SEEIT's investment manager is Sustainable Development Capital LLP, an
investment firm established in 2007, with a proven track record of investment
in energy efficiency and decentralised generation projects in the UK,
Continental Europe, North America and Asia.

SDCL is headquartered in London and also operates worldwide from offices in
New York, Dublin, Hong Kong and Singapore. SDCL is authorised and regulated in
the UK by the Financial Conduct Authority.

Further information can be found on at www.sdclgroup.com
(http://www.sdclgroup.com) .

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