TIDMDORE
RNS Number : 0227Q
Downing Renewables & Infrastructure
23 June 2022
23 June 2022
Downing Renewables & Infrastructure Trust plc
("DORE" or the "Company")
Result of General Meeting and Total Voting Rights
At the Company's General Meeting held earlier today all of the
resolutions were decided by poll and all were passed. The results
of the poll are set out below
Resolutions Votes Votes Total Votes
For % Against % Votes Withheld
Cast
1. To grant the Directors
authority to allot up
to 250 million Ordinary
Shares in the period
to 6 June 2023 65,314,349 99.99% 9,536 0.01% 65,323,885 36,519
2. To amend the Company's
investment policy as
set out in the Circular. 65,314,349 99.99% 9,536 0.01% 65,323,885 36,519
3. To disapply the pre-emption
rights in respect of
the allotment of Ordinary
Shares pursuant to Resolution
1. 65,271,426 99.92% 52,459 0.08% 65,323,885 36,519
Notes:
A vote withheld is not a vote in law and is not counted in the
calculation of the proportion of votes "For" and "Against" a
resolution.
Further to the announcement made by the Company earlier today,
the Company has successfully raised gross proceeds of c.GBP52.9
million through the issue of in aggregate 47,614,000 Ordinary
Shares at a price of 111 pence per Ordinary Share pursuant to the
Initial Issue.
Applications have been made to the FCA and the London Stock
Exchange for 47,614,000 Ordinary Shares issued pursuant to the
Initial Issue to be admitted to the premium segment of the Official
List and to trading on the premium segment of the London Stock
Exchange's main market. Admission is expected to occur on 27 June
2022.
Following completion of the Initial Issue, the Company's issued
share capital will comprise 184,622,487 Ordinary Shares. This
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
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
The Ordinary Shares issued pursuant to the Initial Issue will,
following Initial Admission, rank pari passu in all respects with
the existing Ordinary Shares and will carry the right to receive
all dividends and distributions declared, made or paid on or in
respect of the Ordinary Shares by reference to a record date after
Initial Admission.
Unless otherwise defined, the terms used in this announcement
shall have the same meaning as set out in the prospectus of the
Company dated 7 June 2022.
Contact details:
Downing LLP - Investment Manager to the
Company
Tom Williams +44 (0)20 3954 9908
Singer Capital Markets - Sponsor, Financial
Adviser and Joint Bookrunner to the Company
Robert Peel, Alaina Wong, Asha Chotai (Investment
Banking)
Sam Greatrex, Alan Geeves, James Waterlow,
Paul Glover, William Gumpel (Sales) +44 (0)20 7496 3000
Winterflood Securities Limited - Joint
Bookrunner to the Company
Neil Morgan, Verity Wilson (Corporate Finance)
Darren Willis, Andrew Marshall (Sales) +44 (0)20 3100 0000
TB Cardew - Public relations advisor to +44 (0)20 7930 0777
the Company +44 (0)7738 724 630
Ed Orlebar +44 (0)7425 536 903
Tania Wild +44 (0)7939 694 437
Lucas Bramwell DORE@tbcardew.com
About Downing Renewables & Infrastructure Trust plc
DORE is a closed-end investment trust that aims to provide
investors with an attractive and sustainable level of income, with
an element of capital growth, by investing in a diversified
portfolio of renewable energy and infrastructure assets in the UK
and Northern Europe. DORE has been awarded the London Stock
Exchange's Green Economy Mark in recognition of its contribution to
the global 'Green Economy'.
The Board classifies DORE as a sustainable fund with a core
objective of accelerating the transition to net zero through its
investments, compiling and operating a diversified portfolio of
renewable energy and infrastructure assets to help facilitate the
transition to a more sustainable future. The Company believes that
this directly contributes to climate change mitigation.
DORE's strategy, which focuses on diversification by geography,
technology, revenue and project stage, is designed to increase the
stability of revenues and the consistency of income to
shareholders. For further
details please visit www.doretrust.com .
LEI: 2138004JHBJ7RHDYDR62
About Downing LLP
Downing LLP is a London-based investment management firm. It has
over 25,000 investors and currently manages c.GBP1.7 billion of
equity invested into businesses across a range of sectors, from
renewable energy, care homes, health clubs, and children's
nurseries, to technology and sports nutrition. Downing has a
demonstrable track record in renewables, having made more than 176
investments into solar parks, wind farms and hydroelectric plants
since 2010.
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