Renewables Infrastructure Grp (The) Issue of Equity (6825E)
March 14 2022 - 8:05AM
UK Regulatory
TIDMTRIG
RNS Number : 6825E
Renewables Infrastructure Grp (The)
14 March 2022
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
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 arrangement 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 857,254 Ordinary Shares (the " Management
Ordinary Shares "), subject only to Admission (defined below).
The issue price per Management Ordinary Share is 117.61, which
is the 31 December 2021 NAV of 119.3p less the 1.69p 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 "), 557,216 and 300,038 new Ordinary shares have been
allotted to the Investment Manager and the Operations Manager
respectively. This is for the period from 1 July to 31 December
2021.
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 31 December 2021,
elections for the scrip dividend alternative were received in
respect of 132,791,532 of the Ordinary Shares in issue as at the
record date of 11 February 2022. As a consequence, the Company has
today issued 1,750,412 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 1 April 2021 is available for inspection at the
National Storage Mechanism
https://data.fca.org.uk/#/nsm/nationalstoragemechanism 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 Scrip Shares will commence at 8.00
a.m. on 31 March 2022 ("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 2,269,854,081 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
Aztec Financial Services (Guernsey)
Limited
Chris Copperwaite
Lucy Smith +44 (0)1481 748831
InfraRed Capital Partners Limited
Richard Crawford
Phil George +44 (0) 20 7484 1800
Maitland/AMO
Rhys Jones
Charles Withey +44 (0) 20 7379 5151
Investec Bank Plc
Lucy Lewis
Denis Flanagan +44 (0) 20 7597 5661
Liberum Capital Limited
Chris Clarke
Darren Vickers
Owen Matthews +44 (0) 20 3100 2000
Ends
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