REG - Triple Point Energy - Completion of Asset Sale

Triple Point Energy TransitionAnnouncement

28/03/2024 07:00

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RNS Number : 6056I  Triple Point Energy Transition PLC  28 March 2024

 

28 March 2024

 

Triple Point Energy Transition plc

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

 

Completion of Asset Sale

 

Triple Point Energy Transition plc (ticker: TENT), is pleased to announce
that the sale of an LED Facility described in the Circular sent on 5 March
2024, and approved by Shareholders on 22 March 2024, has completed.

 

The sale has been transacted with TP Leasing Limited ("TPLL"), a member of the
group of the Company's investment manager Triple Point Investment Management
LLP and will result in a return of £2.1m to the Company, representing the
outstanding loan balance.

 

Background

 

In September 2023, the Group, via TENT Holdings Limited, provided a £2.3
million receivables financing facility to Boxed Light Services Limited
("Boxed") (the "LED Facility"). Boxed installs efficient LED lights and
controls at Places for People Homes Limited sites, part of the Places for
People group, one of the UK's leading social enterprises.

 

John Roberts, the Company's Chair commented:

 

"We are delighted with this strong start to TENT's orderly realisation
process, which was approved by shareholders on Friday 22 March 2024. The
completion of this sale reduces the number of investments within the Group's
portfolio from 19 to 18 investments. We will continue to update the market on
the orderly realisation process and on our plans for returning capital to
shareholders."

 

For further information, please contact:

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

 Jonathan Hick

 Christophe Arnoult

 Chloé Smith

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

 William Simmonds

 Jérémie Birnbaum

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

 Tom Frost

 Siobhan Sergeant

 Buchanan (Financial PR)                              +44 (0) 20 7466 5111

 Helen Tarbet

 Henry Wilson

 Verity Parker

+44 (0) 20 7466 5111

LEI: 213800UDP142E67X9X28

 

Further information on the Company can be found on its
website: www.tpenergytransition.com (http://www.tpenergytransition.com/)

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. 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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