Triple Point Energy - Result of AGM & Change of Investment Policy & Name
25/08/2022 16:30
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RNS Number : 2780X Triple Point Energy Efficiency 25 August 2022
25 August 2022
Triple Point Energy Efficiency Infrastructure Company plc
("TEEC" or the "Company" or together with its subsidiaries, the "Group")
Result of AGM
Change to the Investment Policy
Change of Name
The Board of Directors of Triple Point Energy Efficiency Infrastructure
Company plc (ticker: TEEC) is pleased to announce that at the Company's Annual
General Meeting held today, all resolutions were voted on by way of a poll and
were passed by shareholders.
As a result, the Company's revised Investment Policy was approved by
shareholders and will become effective immediately. The Board looks forward to
announcing further progress in deploying existing capital into the current
pipeline of investment opportunities.
Further, as a result of the approval of the revised Investment Policy,
following completion of various procedural matters, the Company's name will
change to "Triple Point Energy Transition plc" (ticker: TENT). A further
update will be provided in due course, once the change of name and ticker have
taken effect.
Resolutions 1 to 11 were proposed as ordinary resolutions and resolutions 12
to 13 were proposed as special resolutions. The results of the poll are set
out below.
Resolution Votes For % Votes Against % Total votes validly cast Total votes cast as % of issued share capital Votes Withheld*
1 To receive and adopt the Annual Report and accounts of the Company for the 100 0 0 66,191,489 66.18 5,652
year ended 31 March 2022
66,191,489
2 To approve the Directors' Remuneration Report 66,173,361 99.98 11,214 0.02 66,184,575 66.18 12,566
3 To re-elect Dr John Roberts CBE as a Director of the Company 66,172,075 99.98 12,500 0.02 66,184,575 66.18 12,566
4 To re-elect Rosemary Boot as a Director of the Company 66,172,075 99.98 12,500 0.02 66,184,575 66.18 12,566
5 To re-elect Sonia McCorguodale as a Director of the Company 66,172,075 99.98 12,500 0.02 66,184,575 66.18 12,566
6 To re-elect Dr Anthony White MBE as a Director of the Company 66,172,075 99.98 12,500 0.02 66,184,575 66.18 12,566
7 To re-appoint BDO LLP as Auditors of the Company 66,184,575 100 0 0 66,184,575 66.18 12,566
8 To authorise the Audit Committee to determine the Auditors' remuneration 66,191,489 100 0 0 66,191,489 66.18 5,652
9 To authorise the Directors to declare and pay all dividends of the Company as 66,191,489 100 0 0 66,191,489 66.18 5,652
interim dividends
10 To approve the amendments to the Company's investment policy 66,191,489 100 0 0 66,191,489 66.18 5,652
11 Conditional on the passing of Resolution 10, to approve the change of the 66,191,489 100 0 0 66,189,489 66.18 5,652
Company's name
12 To authorise the Company to purchase its own shares 66,191,489 100 0 0 66,191,489 66.18 5,652
13 To authorise the calling of general meetings, other than an annual general 66,191,489 100 0 0 66,191,489 66.18 5,652
meeting, on not less than 14 clear days' notice
*A vote withheld is not a vote in law and is not counted in the calculation of
the votes for or against a resolution.
Every shareholder has one vote for every Ordinary Share held. As at 25 August
2022, the issued share capital of the Company consisted of 100,014,079
Ordinary Shares. The Company holds no Ordinary Shares in treasury. Therefore,
the total voting number of voting rights in the Company is 100,014,079
Ordinary Shares.
The full text of all the resolutions can be found in the Notice of Annual
General Meeting dated 15 July 2022, a copy of which is available on the
Company's website at https://www.tpenergyefficiency.com/
(https://www.tpenergyefficiency.com/)
In accordance with Listing Rule 9.6.2 copies of all the resolutions passed,
other than ordinary business, will be submitted to the National Storage
Mechanism and will shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .
For further information, please contact:
Triple Point Investment Management LLP +44 (0) 20 7201 8989
Jonathan Hick
Ben Beaton
J.P. Morgan Cazenove (Corporate Broker) +44 (0) 20 7742 4000
William Simmonds / Jérémie Birnbaum (Corporate Finance)
James Bouverat / Liam MacDonald-Raggett (Sales)
Akur Limited (Financial Adviser) +44 (0) 20 7493 3631
Tom Frost
Anthony Richardson
Siobhan Sergeant
LEI: 213800UDP142E67X9X28
Further information on the Company can be found on its website:
https://www.tpenergyefficiency.com/ (https://www.tpenergyefficiency.com/)
NOTES:
The Company is an investment trust which aims to have a positive environmental
impact by investing in assets that support the transition to a lower carbon,
more efficient energy system and help the UK achieve Net Zero.
Since its IPO in October 2020, the Company has made the following investments
and commitments:
· Harvest and Glasshouse: provision of £21m of senior debt finance
to two established combined heat and power ("CHP") assets, located on the Isle
of Wight, supplying heat, electricity and carbon dioxide to the UK's largest
tomato grower, APS Salads ("APS") - March 2021
· Spark Steam: provision of £8m of senior debt finance to an
established CHP asset in Teeside supplying APS, as well as a further power
purchase agreement through a private wire arrangement with another food
manufacturer - June 2021
· Hydroelectric Portfolio (1): acquisition of six operational, Feed
in Tariff ("FiT") accredited, "run of the river" hydroelectric power projects
in Scotland, with total installed capacity of 4.1MW, for an aggregate
consideration of £26.6m (excluding costs) - November 2021
· Hydroelectric Portfolio (2): acquisition of a further three
operational, FiT accredited, "run of the river" hydroelectric power projects
in Scotland, with total installed capacity of 2.5MW, for an aggregate
consideration of £19.6m (excluding costs) - December 2021
· BESS Portfolio: provision of a debt facility of £45.6m to a
subsidiary of Virmati Energy Ltd (trading as "Field"), for the purposes of
building a portfolio of four geographically diverse Battery Energy Storage
System ("BESS") assets in the UK with a total capacity of 110MW - March 2022
· Energy Efficient Lighting: Commitment to fund £1m to a lighting
solutions provider to install efficient lighting and controls at a leading
logistics company - June 2022
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 efficiency and decentralised
energy projects.
The Company was admitted to trading on the Specialist Fund Segment of the Main
Market of the London Stock Exchange on 19 October 2020 and was awarded the
London Stock Exchange's Green Economy Mark.
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