VH
Global Sustainable Energy Opportunities plc
22
February 2024
Increase Share Buyback
Programme by £10 million
The Board of VH Global Sustainable
Energy Opportunities plc (the "Company" or "GSEO") continues to
believe that GSEO's share price materially undervalues the Company,
and that a buyback programme represents an attractive investment as
part of an active capital allocation policy.
The Board continually evaluates the
optimum capital allocation strategy for the Company, balancing the
need to maintain a strong balance sheet in order to support
existing portfolio assets alongside further investment
opportunities and returning capital to shareholders via dividends
and/or share buybacks. The Board notes that it will commit to
undertake share buybacks when it believes those to be in the best interests of shareholders.
As such, and in light
of this persistent disconnect between GSEO's
portfolio value and the value inferred by its share price, the
Board today has decided to increase the buyback by £10 million,
bringing the total Share Buyback Programme to £20
million.
The Share Buyback Programme will be
carried out under the existing shareholder
authorisation granted at the last Annual General Meeting for
purchases of Ordinary Shares by the Company in the market for up to
14.99% of the Company's issued capital.
The Share Buyback Programme is
expected to be accretive to both NAV per Ordinary Share and
dividend cover, as well as providing additional liquidity for
GSEO's underlying shares.
www.vh-gseo.com
The Company's LEI is
213800RFHAOF372UU580.
For further information:
Edelman Smithfield (PR Adviser)
Ged
Brumby
+ 44 (0)7540 412 301
Hamza
Ali
+ 44 (0)7976 308 914
Victory Hill Capital Partners LLP (Investment
Manager)
Navin
Chauhan
info@victory-hill.com
Numis
(Corporate Broker)
David
Benda
+44 (0)20 7260 1000
Matt
Goss
+44 (0)20 7260 1642
Apex
Fund and Corporate Services (UK) Limited (Company
Secretary)
ukfundcosec@apexgroup.com
About Victory Hill Capital Partners LLP
Victory Hill Capital Partners
LLP ("Victory Hill") is authorised and regulated by
the Financial Conduct Authority (FRN
961570).
Victory Hill is based
in London and was founded in May 2020 by an
experienced team of energy financiers that have spun-out of a large
established global project finance banking group. The team has
participated in more than $200bn in transaction values
across 91 conventional and renewable energy-related transactions in
over 30 jurisdictions worldwide. Victory Hill is the investment
manager of the Company.
The Victory Hill team deploys its
experience across different financial disciplines in order to
assess investments holistically from multiple points of view. The
firm pursues operational stability and well-designed corporate
governance to generate sustainable positive returns for investors.
It focuses on supporting and accelerating the energy transition and
the attainment of the UN Sustainable Development Goals.
Victory Hill is a signatory of the
United Nations Principles for Responsible Investing (UN PRI), the
United Nations Global Compact (UN GC), Net Zero Asset Managers
Initiative (NZAMI), a member of the Global Impact Investing Network
(GIIN) and is a formal supporter of the Financial Stability Board's
Task-Force on Climate-related Disclosures (TCFD).