Renewables Infrastructure Grp (The) Cancellation of Scrip Dividend Alternative (4482L)
September 06 2023 - 2:00AM
UK Regulatory
TIDMTRIG
RNS Number : 4482L
Renewables Infrastructure Grp (The)
06 September 2023
6 September 2023
The Renewables Infrastructure Group Limited (the "Company")
Cancellation of Scrip Dividend Alternative
In accordance with the terms and conditions of the Scrip
Dividend Alternative and the Directors' power to cancel the Scrip
Dividend Alternative where a change in market conditions might, in
the reasonable opinion of the Directors, render the Scrip Dividend
Alternative materially detrimental to those Shareholders electing
for it, the Board has decided to cancel the Scrip Dividend
Alternative in respect of the Q2 Dividend as the mid-market closing
price of an Ordinary Share as at 5 September 2023 (being the day
before the Relevant Quarterly Dividend Reference Date) was at a
discount greater than 10% discount to the Relevant Quarterly Scrip
Share Reference Price which was announced on 17 August 2023 (being
the prevailing Net Asset Value per Ordinary Share of 132.2p as at
30 June 2023). Accordingly, Shareholders will receive the Full Cash
Dividend in respect of the Q2 Dividend and, should they so wish,
can choose to apply this in acquiring Ordinary Shares in the
secondary market.
Capitalised terms shall have the meanings given to them in the
Scrip Dividend Circular 2023 (the "Scrip Circular") available on
the Company's website to view and/or download at: www.trig-ltd.com
in the Investor Relations, 'Reports & Publications',
'Circulars' section. The Scrip Circular is also available from the
National Storage Mechanism website (
https://data.fca.org.uk/#/nsm/nationalstoragemechanism ).
The Board expects to re-instate the Scrip Dividend Alternative
in respect of future quarterly dividends, subject to an assessment
of the relevant prices and a determination that a re-instatement of
the Scrip Dividend Alternative would be for the benefit of the
Company's shareholders as a whole.
For further information, please contact:
Enquiries
Aztec Financial Services (Guernsey)
Limited
Chris Copperwaite
Laura Dunning +44 (0)1481 748831
InfraRed Capital Partners Limited
Richard Crawford
Phil George +44 (0) 20 7484 1800
Brunswick
Mara James +44 (0) 20 7404 5959
Investec Bank Plc
Lucy Lewis
Tom Skinner +44 (0) 20 7597 5661
BNP Paribas
Virginia Khoo
Carwyn Evans +44 (0) 20 7595 9444
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END
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