VH Global Sustain. - Net Asset Value as at 30 June 2022

VH Global Energy Infrastructure

05/08/2022 07:00

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RNS Number : 0015V  VH Global Sustainable Energy Oppt.  05 August 2022

VH Global Sustainable Energy Opportunities plc

 

5 August 2022

 

Net Asset Value as at 30 June 2022

 

VH Global Sustainable Energy Opportunities plc (the "Company" or "GSEO")
announces that its unaudited net asset value ("NAV") as at 30 June
2022 was £352.4 million, equivalent to a NAV per ordinary share of 113.1p.
This represents a 5.1% increase from 107.6p as at 31 March 2022.

 

The NAV increase over the quarter was predominantly driven by:

 

-     An increase in the value of investments of 3.8p per share, notably,
i) assets that moved from being valued at cost during the construction phase
to being valued on future cash flows as they moved to the operational phase.
Specifically, one of the two solar PV assets in Australia and four of the
eighteen remote distributed generation assets in Brazil, and ii) inflation
linked increases in customer contracts at the US terminal storage assets.

 

This strong operating performance is notable as it is net of the impact of
macroeconomic headwinds.

 

-     The weakness of GBP to the basket of currencies within the Company's
portfolio, including the USD, AUD, and BRL during the quarter of 1.9p per
share; and

 

-     Receipt of cash distributions from investments of 1.3p per share.

During the quarter, the Company committed a further £28 million for the
acquisition of a second UK flexible power plant, which consists of high
efficiency combined heat power with carbon capture and re-use technology, as
part of the Company's programme to support the UK's energy transition plans
to net zero.

Subsequent to the quarter end, the Company successfully raised a further £122
million through equity issuance. The proceeds raised will be used to invest in
a number of potential sustainable energy infrastructure investments
that Victory Hill Capital Advisers (the "Investment Adviser"), has (i)
secured the exclusive right to negotiate with the owner to acquire for the
Company, (ii) issued non-binding offers for the Company to acquire, and/or
(iii) is at an advanced stage of negotiation with the respective developers
and/or other sustainable energy infrastructure investments which may become
available to the Company. The Investment Adviser is confident that the Company
would be able to invest or commit substantially all of the net proceeds from
the recent issue in the next three to six months.

 

The Company's LEI is 213800RFHAOF372UU580.

 

 

For further information, please contact:

 

Edelman Smithfield (PR Adviser)

Ged Brumby / Kanayo Agwunobi

Tel: + 44 (0)7540 412 301 / +44 (0)7581 010 560

 

 

Victory Hill Capital Advisors LLP (Investment Adviser)

Navin Chauhan

info@victory-hill.com

 

 

Numis Securities Limited (Joint Corporate Broker)

David Benda / Matt Goss / Tod Davis

Tel: +44 (0)20 7260 1000

 

 

Alvarium Securities Limited (Joint Corporate Broker)

Mark Thompson         +44 (0)20 7016 6711

Eddie Nissen               +44 (0)20 7016 6713

Oliver Kenyon             +44 (0)20 7016 6704

 

 

G10 Capital Limited (AIFM)

Mohammed Rahman / Paul Cowland

Tel: + 44 (0)20 7397 5450

 

 

Apex Fund and Corporate Services (UK) Limited (Company Secretary)

Andrew Humphries

Tel: +44 (0)7435 828 755

About Victory Hill Capital Advisors LLP

Victory Hill Capital Advisors LLP ("VHCA") (FRN 938594) is an Appointed
Representative of G10 Capital Limited, which is authorised and regulated by
the Financial Conduct Authority (FRN 648953).

Victory Hill is based in London and was founded in May 2020 by an experienced
team of energy financiers that spun-out of a large established global project
finance banking group. The team has participated in more than $200bn in
transaction values across 91 conventional and renewable energy-related
transactions in over 30 jurisdictions worldwide. VHCA is the investment
adviser entity of the Victory Hill group.

The VHCA team deploys its experience across different financial disciplines in
order to assess investments holistically from multiple points of view. The
firm pursues operational stability and well-designed corporate governance to
generate sustainable positive returns for investors. It focuses on supporting
and accelerating the Energy Transition and the attainment of the UN
Sustainable Development Goals.

VHCA is a signatory of the United Nations Principles for Responsible Investing
("UN PRI"), the United Nations Global Compact ("UN GC") and is a formal
supporter of the Financial Stability Board's Task Force on Climate-Related
Disclosures ("TFCD").

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