REG - Triple Point Energy - Liquidation Timetable Update

Triple Point Energy TransitionAnnouncement

03/02/2025 07:00

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RNS Number : 5281V  Triple Point Energy Transition PLC  03 February 2025

3 February 2025

Triple Point Energy Transition plc

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

 

LIQUIDATION TIMETABLE UPDATE

 

Further to the Company's announcement on 23 January 2025 (RNS Number: 3861U),
the Board of Directors of TENT announces a revision to the expected timetable
for the De-Listing of the Company's Shares in the event that the Liquidation
is approved at the General Meeting to be held on 24 February 2025.

This revision has been made in response to feedback from certain Shareholders
in respect of Shares held within Individual Savings Accounts ("ISAs").

In the event that Shareholders approve the proposed Liquidation at the General
Meeting:

 ·           The Liquidators will be appointed immediately following the General Meeting
             (as previously anticipated).

 ·           While the Shares will be suspended from trading from 7.30 a.m. on the date of
             the General Meeting, the Company will now only seek the cancellation of the
             admission of the Shares to the Official List of the FCA and to trading on the
             Main Market of the London Stock Exchange ("De-Listing") after the payment of
             the Initial Distribution by the Liquidators. The Initial Distribution is
             expected to be made as soon as possible after the General Meeting and, in any
             event, within 10 Business Days thereof.

 ·           As a result of this revised timing for De-Listing, the Shares are expected to
             continue to be "qualifying investments" for ISA purposes until after the
             Initial Distribution.

 ·           The last time and date on which Shareholders will be able to acquire or
             dispose of Shares on-market remains 6.00 p.m. on 21 February 2025.

The timetable in respect of the proposed Tender Offer, if approved by
Shareholders at the General Meeting (and the Liquidation is not approved),
remains unchanged.

Shareholders who are in any doubt as to the action they should take should
consult an appropriate independent professional adviser.

Expected timetable of events

 Latest time and date for receipt of Forms of Proxy for the General Meeting    9.00 a.m. on 20 February 2025
 Latest time and date for receipt of Tender Forms and TTE Instructions         1.00 p.m. on 21 February 2025
 Record date for entitlement to vote at the General Meeting                    6.00 p.m. on 21 February 2025

 Record date for participation in the Liquidation or the Tender Offer          6.00 p.m. on 21 February 2025

 Suspension of Shares from listing on the Official List and to trading on the  7.30 a.m. 24 February 2025
 Main Market

 General Meeting                                                               9.00 a.m. on 24 February 2025
 Results of General Meeting announced                                          24 February 2025
 If the Liquidation Resolutions are passed:
 Appointment of Liquidators                                                    24 February 2025
 Initial Distribution to Shareholders*                                         by 10 March 2025*
 Cancellation of the listing of the Shares on the Official List and of the     As soon as practicable following the Initial Distribution **
 trading of the Shares on the Main Market**
 If the Liquidation Resolutions are not passed and the Tender Offer Resolution
 is passed:
 Results of Tender Offer announced                                             24 February 2025
 Lifting of the suspension of Shares from listing on the Official List and to  7.30 a.m. on 25 February 2025
 trading on the Main Market and commencement of the Tender Offer

 Purchase date of the Shares subject to the Tender Offer                       25 February 2025
 Settlement through CREST of, and despatch of cheques for, the Tender Offer    by 4 March 2025
 consideration, as appropriate
 Despatch of balance share certificates and crediting of CREST accounts with   by 10 March 2025
 Shares not purchased

* Actual date to be determined by the Liquidators

** The actual date will be dependent on the timing of the Initial Distribution

YOUR VOTE IS EXTREMELY IMPORTANT AND EVERY VOTE MATTERS

YOU ARE ENCOURAGED TO VOTE ON ALL THE RESOLUTIONS

The Circular setting out details of the Proposals and containing the Notice of
General Meeting, together with the amended timetable as set out above, are
available on the Company's website at
https://www.tpenergytransition.com/investor-communication/151/
(https://www.tpenergytransition.com/investor-communication/151/) . All defined
terms included herein are as set out in the Circular.

If you are in any doubt as to how to register your vote for the General
Meeting or how to tender your shares, contact details for where you can seek
assistance are set out on this website.

For further information, please contact:

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

 Jonathan Hick

 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 which was completed with the sale of the final assets
announced on 22 January 2025.

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