RBC Europe Ltd Result of sale of shares in Greencoat Renewables (5728B)
October 09 2020 - 2:00AM
UK Regulatory
TIDMGRP
RNS Number : 5728B
RBC Europe Ltd
09 October 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES,
CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION
IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OR THE
SOLICITATION OF AN OFFER TO BUY IN ANY JURISDICTION, NOR SHALL
THERE BE ANY SALE, OF THE SECURITIES REFERRED TO HEREIN IN THE
UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER
JURISDICTION IN WHICH SALES WOULD BE PROHIBITED BY APPLICABLE
LAW.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT.
9 October 2020
Result of placing of existing ordinary shares in Greencoat
Renewables Plc
Further to the announcement released on 8 October 2020, the
Ireland Strategic Investment Fund ("ISIF" or the "Seller"; managed
and controlled by the National Treasury Management Agency)
announces that it has sold approximately 57.0 million existing
ordinary shares (the "Placing Shares") in Greencoat Renewables Plc
("Greencoat Renewables") at a price of EUR1.15 per ordinary share
(the "Placing"). The Placing was upsized from 45.6 million shares
referenced at the time of public launch due to strong demand during
the bookbuild.
Following settlement of the Placing, which is expected to take
place on 13 October 2020, the Seller will hold approximately 19.0
million shares in Greencoat Renewables representing approximately
3.0% of issued share capital. The Seller's remaining stake will be
subject to a lock up agreement of 180 days.
RBC Europe Limited ("RBC Capital Markets") is acting as sole
bookrunner on the Placing.
Greencoat Renewables will not receive any proceeds from the
Placing.
Enquiries
RBC Capital Markets (+4420 7653 4000)
Duncan Smith / Jonathan Hardy / Max Avison / Kathryn Deegan
Important Notice
Issued by RBC Europe Limited ("RBC") to professional investors
only. RBC is acting on behalf of Seller(s) in relation to the offer
and no-one else and will not be responsible to anyone other than
the Seller(s) for providing the protections offered to clients of
RBC nor for providing advice in relation to such offer.
This is an undocumented offer so no offering circular or
prospectus has been or will be prepared or provided in connection
with the offer and sale of the relevant securities. RBC has not,
nor will it be providing, any information regarding the securities
or the issuer. Anyone purchasing the securities must make their own
investment decision based on their own knowledge and public
information they may have with respect to the issuer and the
securities.
This document is not and should not be construed as an offer to
sell or the solicitation of an offer to buy any securities. RBC
does not accept any liability whatsoever for any direct or
consequential loss arising from the use of this document.
The securities referred to herein have not been registered under
the Securities Act and may not be offered or sold in the United
States except pursuant to Regulation S under the Securities Act.
Nothing in this communication shall constitute an offer to sell or
the solicitation of an offer to buy securities in any jurisdiction
in which such offer or sale would be unlawful.
Solely for the purposes of the product governance requirements
of Directive 2014/65/EU on markets in financial instruments, as
amended ("MiFID II") and local implementing measures, and
disclaiming all and any liability, whether arising in tort,
contract or otherwise, which any "manufacturer" (for the purposes
of the Product Governance Requirements) may otherwise have with
respect thereto, the securities have been subject to a product
approval process, which has determined that such securities are:
(i) compatible with an end target market of retail investors and
investors who meet the criteria of professional clients and
eligible counterparties, each as defined in MiFID II; and (ii)
eligible for distribution through all distribution channels as are
permitted by MiFID II (the "Target Market Assessment").
Notwithstanding the Target Market Assessment, Distributors should
note that: the price of the securities may decline and investors
could lose all or part of their investment; the securities offer no
guaranteed income and no capital protection; and an investment in
the securities is compatible only with investors who do not need a
guaranteed income or capital protection, who (either alone or in
conjunction with an appropriate financial or other adviser) are
capable of evaluating the merits and risks of such an investment
and who have sufficient resources to be able to bear any losses
that may result therefrom. The Target Market Assessment is without
prejudice to any contractual, legal or regulatory selling
restrictions in relation to the Offer. Furthermore, it is noted
that, notwithstanding the Target Market Assessment, RBC will only
procure investors who meet the criteria of professional clients and
eligible counterparties.
For the avoidance of doubt, the Target Market Assessment does
not constitute: (a) an assessment of suitability or appropriateness
for the purposes of MiFID II; or (b) a recommendation to any
investor or group of investors to invest in, or purchase, or take
any other action whatsoever with respect to the securities. Each
Distributor is responsible for undertaking its own target market
assessment in respect of the securities and determining appropriate
distribution channels.
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