Result of EGM

RNS Number : 8195C

Greencoat Renewables PLC

13 October 2022

 

Greencoat Renewables PLC EGM Result

Dublin, London, 13 October 2022: Greencoat Renewables PLC ("Greencoat Renewables" or the "Company") the renewable infrastructure company invested in euro-dominated assets, is pleased to announce that at the Company's EGM held at 10.00 am today, 13 October 2022, the Resolution was duly passed without amendment. 

The resolution as set out in the Notice of EGM was voted on by way of a poll and the result was as follows:

	In Favour (including discretionary)		Against		Withheld*
Resolution	Votes	%	Votes	%	Votes
1	785,568,255	100	0	0	6,150,000

*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "in favour" or "against" the Resolution.

The full wording of the resolution can be found below:-

SPECIAL BUSINESS

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

That the Company be and is hereby generally and unconditionally authorised to amend its investment policy as set out at paragraph 3.1 of Part 1 of the admission document issued by the Company on 20 July 2017 and as amended at  (i) the Annual General Meeting on 29 April 2020, (ii) the Annual General Meeting on 29 April 2021, and (iii) the Extraordinary General Meeting on 17 September 2021 (the "Investment Policy"), by the deletions shown below:

"After 24 months from Admission: (i) the Company shall continue to invest: such investments in Ireland shall represent, in aggregate, not less than 60 per cent. of the Gross Asset Value (calculated immediately following each investment); and (ii) subject to the preceding paragraph (i), the Company may also invest: (a) in aggregate, up 40 per cent. of the Gross Asset Value (calculated immediately following each investment) in operational wind energy assets or operational solar PV assets in Ireland and Other Relevant Countries; and / or (b) in aggregate, up to 10 per cent. of the Gross Asset Value (calculated immediately following each investment) in Ireland and Other Relevant Countries: (1) in wind energy assets or solar PV assets under construction; or (2) in assets that are in other forms of energy technologies (or infrastructure that is complementary to, or supports the roll-out of, renewable energy generation). Over time, the Company will invest in both onshore and offshore wind farms with the amount invested in offshore wind farms being capped, in aggregate, at 40 per cent. of the Gross Asset Value (calculated immediately following each investment)."

The full text the of resolution and a summary of the poll votes received will shortly be available on the Company's website and will also be submitted to the National Storage Mechanism for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

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  For further information on the Announcement, please contact:

  Greencoat Renewables PLC:  [phone]

  Bertrand Gautier

  Paul O'Donnell  

  Tom Rayner

  Davy (Joint Broker, Nomad and

  Euronext Growth Listing Sponsor)  [phone]

  Ronan Veale

  Barry Murphy

  RBC (Joint Broker)    [phone]

  Matthew Coakes

  Duncan Smith

  Elizabeth Evans

  FTI Consulting (Media Enquiries)  [e-mail]

  Melanie Farrell

  Orla Cox

  About Greencoat Renewables PLC

  Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets. Initially focused solely on the acquisition and management of operating wind farms in Ireland, the Company is now also investing in wind and solar assets in certain other Northern European countries with stable and robust renewable energy frameworks. It is managed by Greencoat Capital LLP, an experienced investment manager in the listed renewable energy infrastructure sector.

 

END

 

 

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