Issue of Equity
Summary by AI BETAClose X
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.
The Renewables Infrastructure Group Limited
Issue of Ordinary Shares under the Management Agreements and Total Voting Rights
Issue of Ordinary Shares under the Management Agreements
The Board of The Renewables Infrastructure Group Limited (the "Company") announces that, in accordance with the terms of the previous management fee arrangement applicable to 31 March 2025 with InfraRed Capital Partners Limited (the "Investment Manager") and Renewable Energy Systems Limited (the "Operations Manager") under which a proportion of the management fee is payable in new ordinary shares of no par value in the capital of the Company ("Ordinary Shares"), it has today issued in aggregate 463,868 Ordinary Shares (the "Management Ordinary Shares"), with allotment to take place on 30 September 2025 out of the Treasury shares held by the Company.
The issue price per Management Ordinary Share is 106.3125p, which is the 30 June 2025 NAV of 108.2p less the 1.8875p dividend paid for the period.
Pursuant to the terms of (a) the Investment Management Agreement between, inter alia, the Company and the Investment Manager dated 5 July 2013 (the "Investment Management Agreement") and (b) the Operations Manager dated 5 July 2013 (the "Operations Management Agreement"), 301,514 and 162,354 new Ordinary shares have been allotted to the Investment Manager and the Operations Manager respectively. This is for the period from 1 January to 31 March 2025.
The Ordinary Shares allotted and issued to the Investment Manager and Operations Manager set out above are subject to a lock up of one year from Admission.
Earlier in the year, per the announcement by the Company on 26 March 2025, the Board and Managers agreed a revised fee arrangement which applies from 1 April 2025 whereby fees are charged on an equal weighting of Net Asset Value and market capitalisation and are payable in cash.
Total Voting Rights
In light of the Company's ongoing share buyback programme (the terms of which were announced on 9 August 2024), the total number of Ordinary shares with voting rights will be announced to the market following the allotment date of 30 September 2025, in accordance with the Financial Conduct Authority's Disclosure, Guidance and Transparency Rules for use by shareholders to determine if they are required to notify their interest in, or a change in their interests in the Company.
Enquiries
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Aztec Financial Services (Guernsey) Limited Chris Copperwaite Laura Dunning
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+44 (0)1481 749700
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InfraRed Capital Partners Limited Minesh Shah Phil George
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+44 (0) 20 7484 1800 |
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Brunswick Diana Vaughton Charles Malissard
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+44 (0) 20 7404 5959 |
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Investec Bank Plc Lucy Lewis Denis Flanagan
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+44 (0) 20 7597 5661 |
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BNP Paribas Virginia Khoo Carwyn Evans |
+44 (0) 20 7595 9444 |
Ends
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