B Share scheme return of capital
Summary by AI BETAClose X
LEI: 2138004JUQUL9VKQWD21
12 May 2026
Ecofin U.S. Renewables Infrastructure Trust plc (the "Company")
B Share scheme return of capital
B Share Return
The Board is pleased to confirm that following recent asset disposals, it has resolved to return approximately $10 million in aggregate to Shareholders via an issue of B Shares (the "B Share Return").
Pursuant to the B Share Return, B Shares of $1 each ("B Shares") will be allotted and issued to shareholders pro rata to their holdings of Ordinary Shares as at the record date for the issue of the B Shares. The Company will not allot or issue any fractions of B Shares and entitlements of each Shareholder will be rounded down to the nearest whole B Share.
The B Shares have only very limited rights. The rights and restrictions attached to the B Shares are fully set out in Part 3 of the Company's circular which was issued on 26 February 2026. Shareholders can find full details on the Company's website at https://rnewfund.com/ .
B Shares will be paid up from the Company's distributable reserves, and issued to all Shareholders by way of a bonus issue on the basis of one B Share for every 13.8078496 Ordinary Shares held at the Record Date of 6.00 p.m. on 14 May 2026. The ex date is 13 May 2026.
The B Shares will be issued on 15 May 2026 and immediately redeemed at $1 per B Share. The redemption date in respect of this B Share Return is therefore 15 May 2026.
The proceeds from the redemption of the B Shares will be paid in Sterling and rounded up to the nearest penny based on the Bank of England spot exchange rate between US Dollars and Sterling as at the redemption date. The proceeds from the redemption would be equivalent to approximately 5.32 pence per Ordinary Share as at 8 May 2026 (assuming 10 million B Shares are issued).
Proceeds will be sent to uncertificated Shareholders through CREST or via cheque to certificated Shareholders.
No share certificates will be issued for any B Shares allotted and no CREST accounts will be credited with any such shares. No application will be made for the B Shares to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange's main market for listed securities and the B Shares will not be listed or admitted to trading on any other recognised investment exchange.
The B Share Return will not be dilutive of any Shareholders' interest in the Company (all existing Ordinary Shares will remain in issue), but will reduce the Company's net assets by the amount returned.
Timetable for the B Share Return
It is expected that the timetable will be as follows:
|
Ex Date in respect of the B Share Return |
13 May 2026 |
|
Record Date in respect of the B Share Return |
6.00 p.m. on 14 May 2026 |
|
Issue and allotment of B Share in respect of the B Share Return |
15 May 2026 |
|
Redemption Date in respect of the B Share Return |
15 May 2026 |
|
Payment date: (i) cheques posted to Shareholders; and (ii) CREST holders credited with funds, in each case in respect of the B Share Return |
By 22 May 2026 |
|
Enquires: Brett Miller Ecofin U.S. Renewables Infrastructure Trust PLC via the Company Secretary Apex Listed Companies Services (UK) Limited +44 20 3327 9720 (Company Secretary)
Note: The content of the Company's web-pages and the content of any website or pages which may be accessed through hyperlinks on the Company's web-pages is neither incorporated into nor forms part of the above announcement. |
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