Result of AGM & Change of Investment Policy & Name

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 year ended 31 March 2022	66,191,489	100	0	0	66,191,489	66.18	5,652
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 interim dividends	66,191,489	100	0	0	66,191,489	66.18	5,652
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 Company's name	66,191,489	100	0	0	66,189,489	66.18	5,652
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 meeting, on not less than 14 clear days' notice	66,191,489	100	0	0	66,191,489	66.18	5,652

*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/  

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 .

For further information, please contact:

Triple Point Investment Management LLP Jonathan Hick Ben Beaton	[phone]
J.P. Morgan Cazenove (Corporate Broker) William Simmonds / Jérémie Birnbaum (Corporate Finance) James Bouverat / Liam MacDonald-Raggett (Sales)	[phone]
Akur Limited (Financial Adviser) Tom Frost Anthony Richardson Siobhan Sergeant	[phone]

LEI: 213800UDP142E67X9X28

Further information on the Company can be found on its website: 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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