REG - Triple Point Energy - CHP deferred consideration update

Triple Point Energy TransitionAnnouncement

04/10/2024 07:00

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RNS Number : 9110G  Triple Point Energy Transition PLC  04 October 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATON FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

4 October 2024

Triple Point Energy Transition plc

("TENT" or the "Company" and together with its subsidiaries, the "Group")

CHP deferred consideration update

 

On 24 June 2024 Triple Point Energy Transition plc (ticker: TENT)
announced the disposal of the CHP Portfolio, comprising loans to Harvest,
Glasshouse and Spark Steam, through a refinancing by P3P Partners
LLP amounting to, in aggregate, £17.5 million. The disposal comprised an
immediate payment of £14.5 million received in June 2024, together with three
subsequent payments of £1 million, due to be received on 30 September 2024,
30 June 2025 and 30 September 2026, under a promissory note agreement.

 

The first instalment of £1 million due on 30 September 2024, was only
partially paid.  Accordingly, the Group has reserved all its rights under the
promissory note agreement.

 

The Group is in active discussions regarding a payment plan with P3P Partners
in respect of all amounts due under the promissory note, and will provide an
update once discussions have concluded.

 

 

For further information, please contact:

 Triple Point Investment Management LLP   +44 (0) 20 7201 8989

 Jonathan Hick

 Christophe Arnoult

 Chloe Smith

 J.P. Morgan Cazenove (Corporate Broker)  +44 (0) 20 3493 8000

 William Simmonds

 Jérémie Birnbaum

 Akur Limited (Financial Adviser)         +44 (0) 20 7493 3631

 Tom Frost

 Siobhan Sergeant

LEI: 213800UDP142E67X9X28

 

Further information on the Company can be found on its
website: http://www.tpenergytransition.com/
(https://eur03.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.tpenergytransition.com%2F&data=05%7C01%7CRebecca.Lillington%40triplepoint.co.uk%7C5d7dc58447154d71da6108da8a648af1%7Ccde8812e0dbd4dc3b4463655beb81efb%7C0%7C0%7C637974461674664827%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=Qxux6XDdRNrDI2LBUqkiVrj0UyfH30KOouLRCg%2FPxmY%3D&reserved=0)

 

NOTES:

The Company is an investment trust which was established to invest in assets
that support the transition to a lower carbon, more efficient energy system
and help the UK achieve Net Zero.

The Investment Manager is Triple Point Investment Management LLP ("Triple
Point") which is authorised and regulated by the Financial Conduct Authority.
Triple Point manages private, institutional, and public capital, and has a
proven track record of investment in energy transition and decentralised
energy projects.

On 22 March 2024, shareholders approved the Company's proposed orderly
realisation of assets and on 6 September 2024 declared a special dividend to
return capital to shareholders. Details of future divestments or returns of
capital are expected to be announced via a Regulatory Information Service in
due course.

 

 

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