Renewables Infrastructure Grp (The) Issue of Equity (9497A)
September 17 2018 - 5:01AM
UK Regulatory
TIDMTRIG
RNS Number : 9497A
Renewables Infrastructure Grp (The)
17 September 2018
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
pursuant to the Scrip Alternative,
Shareholdings of Managers 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
management fee arrangements with InfraRed Capital Partners Limited
(the "Investment Manager") and Renewable Energy Systems Limited
(the "Operations Manager") under which 20 per cent 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 957,548 Ordinary Shares (the "Management Ordinary
Shares"), subject only to Admission (defined below).
The issue price per Management Ordinary Share is 103.575p, which
is the 30 June 2018 NAV of 105.2p less the 1.625p 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 Management Agreement between, inter alia, the Company
and the Operations Manager dated 5 July 2013 (the "Operations
Management Agreement"), 622,406 and 335,142 new Ordinary Shares
have been allotted to the Investment Manager and the Operations
Manager respectively. This is for the period from 1 January to 30
June 2018.
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.
Issue of Ordinary Shares pursuant to the Company's Scrip
Dividend Alternative
The Board of the Company announces that, pursuant to the
Company's scrip dividend alternative in lieu of cash for the
interim dividend for the three months ended 30 June 2018, elections
for the scrip dividend alternative were received in respect of
17.49% of the Ordinary Shares in issue as at the record date of 17
August 2018. As a consequence, the Company has today issued
2,844,776 Ordinary Shares (the "Scrip Shares"), subject only to
Admission (defined below).
When issued, the Scrip Shares will rank pari passu with the
existing Ordinary Shares.
A copy of the document relating to the Scrip Dividend
Alternative dated 29 March 2018 is available for inspection at the
National Storage Mechanism www.morningstar.co.uk/uk/NSM and can
also be obtained from the Company Secretary or from the Investor
Relations section of the Company's website at www.trig-ltd.com.
Admission
Application has been made for the Scrip Shares to be admitted to
the premium segment of the Official List and to trading on the
London Stock Exchange's main market for listed securities. It is
expected that dealings in the Management Ordinary Shares and Scrip
Shares will commence at 8.00 a.m. on 28 September 2018
("Admission").
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure
and Transparency Rules, the total number of Ordinary Shares in
issue on Admission will be 1,105,423,385 each with one voting
right. No Ordinary Shares are held in treasury.
The above figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in the Company, under the Disclosure and Transparency Rules.
Enquiries
InfraRed Capital Partners Limited
Richard Crawford
Phil George +44 (0) 20 7484 1800
Tulchan Communications
Martin Pengelley
Toby Bates +44 (0) 20 7353 4200
Canaccord Genuity Limited
Andrew Zychowski
Lucy Lewis +44 (0) 20 7523 8000
Liberum Capital Limited
Steve Pearce
Chris Clarke +44 (0) 20 3100 2000
Ends
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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