C Share Conversion Ratio and Admission of New Shs
26 June 2014
The Renewables Infrastructure Group Limited
("TRIG" or the "Company" and together with the holding company subsidiaries, the "Group")
C Share Conversion Ratio and Admission of New Ordinary Shares
Further to the announcement of 23 June 2014, the Board of The Renewables Infrastructure Group Limited is pleased to announce the following information in relation to the conversion of its C Shares.
The Net Asset Values as at the Calculation Time (being 23 June 2014) for an Ordinary Share and a C Share were 102.2 pence and 98.9 pence respectively. Accordingly, the Conversion Ratio for conversion of the C Shares, as calculated in accordance with the Company's prospectus dated 10 March 2014 (the 'Prospectus'), is 0.9677 of an Ordinary Share for every one C Share held.
Entitlements will be rounded down to the nearest whole share. Any fractional entitlements will be aggregated and sold in the market for the benefit of the Company. On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 967 new Ordinary Shares upon Conversion.
Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue.
The Company's interim report for the period 1 January to 30 June 2014 will be released on or around 21 August 2014 and for the avoidance of doubt, new Ordinary Shares will be entitled to the dividend expected to be declared in August 2014 for the six months ending 30 June 2014.
Defined words and terms used in this announcement shall have the same meaning as ascribed to them in the Company's prospectus dated 10 March 2014 (the 'Prospectus'). Further details of the conversion and rights attaching to the C Shares are set out in the Prospectus.
Admission to the Official List and to trading on the Main Market of the London Stock Exchange
On the basis of the Conversion Ratio, application has been made to the UK Listing Authority for 64,017,608 new Ordinary Shares to be admitted to the Official List and to the London Stock Exchange for the new Ordinary Shares to be admitted to trading. It is anticipated that such admission will become effective, and that dealings in the new Ordinary Shares will commence, on Tuesday, 1 July 2014.
Cancellation of C Shares
The C Shares will be permanently removed from the Official List and from trading on the main market of the London Stock Exchange with effect from the opening of trading at 8.00 a.m. on Tuesday, 1 July 2014.
Expected timetable
Record date for Conversion and C Share register closes: Close of business on Monday, 30 June 2014
Dealings in new Ordinary Shares commence: Tuesday, 1 July 2014
Crediting of CREST accounts with new Ordinary Shares: Tuesday, 1 July 2014
Share certificates in respect of new Ordinary Shares sent: Week commencing 30 June 2014
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Matt Dimond
Canaccord Genuity Limited +44 (0) 20 7523 8000
Andrew Zychowski
Lucy Lewis
Jefferies International Limited +44 (0) 20 7029 8000
Gary Gould
Alex Collins
Stuart Klein
Ends
This information is provided by RNS
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