REG - VH Global Sustain. - Increase Share Buyback Programme by £10 million

VH Global Sustainable Energy OpportunitiesAnnouncement

22/02/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240222:nRSV9964Da&default-theme=true

RNS Number : 9964D  VH Global Sustainable Energy Oppt.  22 February 2024

VH Global Sustainable Energy Opportunities plc

22 February 2024

 

Increase Share Buyback Programme by £10 million

 

The Board of VH Global Sustainable Energy Opportunities plc (the "Company" or
"GSEO") continues to believe that GSEO's share price materially undervalues
the Company, and that a buyback programme represents an attractive investment
as part of an active capital allocation policy.

 

The Board continually evaluates the optimum capital allocation strategy for
the Company, balancing the need to maintain a strong balance sheet in order to
support existing portfolio assets alongside further investment opportunities
and returning capital to shareholders via dividends and/or share buybacks. The
Board notes that it will commit to undertake share buybacks when it believes
those to be in the best interests of shareholders.

 

As such, and in light of this persistent disconnect between GSEO's portfolio
value and the value inferred by its share price, the Board today has decided
to increase the buyback by £10 million, bringing the total Share Buyback
Programme to £20 million.

 

The Share Buyback Programme will be carried out under the existing shareholder
authorisation granted at the last Annual General Meeting for purchases of
Ordinary Shares by the Company in the market for up to 14.99% of the Company's
issued capital.

 

The Share Buyback Programme is expected to be accretive to both NAV per
Ordinary Share and dividend cover, as well as providing additional liquidity
for GSEO's underlying shares.

 

 

www.vh-gseo.com

 

The Company's LEI is 213800RFHAOF372UU580.

 

For further information:

Edelman Smithfield (PR Adviser)

Ged Brumby                 + 44 (0)7540 412 301

Hamza Ali                    + 44 (0)7976 308 914

 

Victory Hill Capital Partners LLP (Investment Manager)

Navin Chauhan             info@victory-hill.com
(mailto:info@victory-hill.com)

 

Numis (Corporate Broker)

David Benda                 +44 (0)20 7260 1000

Matt Goss                     +44 (0)20 7260 1642

 

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

ukfundcosec@apexgroup.com (mailto:+ukfundcosec@apexfs.com)

 

About Victory Hill Capital Partners LLP

Victory Hill Capital Partners LLP ("Victory Hill") is authorised and
regulated by the Financial Conduct Authority (FRN
961570).

Victory Hill is based in London and was founded in May 2020 by an
experienced team of energy financiers that have 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. Victory Hill
is the investment manager of the Company.

The Victory Hill 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.

Victory Hill is a signatory of the United Nations Principles for Responsible
Investing (UN PRI), the United Nations Global Compact (UN GC), Net Zero Asset
Managers Initiative (NZAMI), a member of the Global Impact Investing Network
(GIIN) and is a formal supporter of the Financial Stability Board's Task-Force
on Climate-related Disclosures (TCFD).

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  POSDFLFLZLLFBBF