LEI: 254900V23329JCBR9G82
7 May
2024
Asian Energy Impact Trust
plc
(the "Company" or
"AEIT")
NISPI cash
return
Asian Energy Impact Trust plc (the
"Company") announces that,
on 2 May 2024, it received US$5.6 million from its investment in
Negros Island Solar Power Inc. ("NISPI").
NISPI is an investment based in the Philippines
which owns and operates three solar power projects with a capacity
of 80MW. AEIT holds a 40% economic ownership in NISPI.
The monies received arise after successful
collaboration with the joint owners to approve a partial redemption
of shares in NISPI. Following this cash return, the level of
economic ownership and percentage of voting rights that AEIT holds
in NISPI remains unchanged. On a pro forma
basis, the return is broadly NAV neutral for the
Company.
Sue Inglis, Chair of Asian Energy Impact Trust
plc, said: "We are pleased to have
received this cash return from our investment in NISPI in advance
of finalising the details of the proposed orderly realisation
strategy, which we expect to announce later this month. The details
will include the anticipated amount and timing of the initial
return of capital to shareholders should they approve the proposal
at a general meeting to be held in June. In determining that
amount, regard will be had to, amongst others, AEIT's cash balance,
accrued and prospective costs, the additional funding required of
up to US$4.5 million to complete construction of the RUMS project
and a provision for contingencies."
Enquiries
|
Asian Energy Impact Trust
plc
Sue Inglis, Chair
|
Tel: +44 (0)20 3757
1892
|
|
Octopus Energy Generation (Transitional
Investment Manager)
Press
Office
|
Tel: +44 (0)20 4530
8369
aeit@octopusenergygeneration.com
|
|
Shore Capital (Joint Corporate
Broker)
Mark Percy / Gillian Martin / Rose Ramsden (Corporate)
|
Tel: +44 (0)20 7408
4050
|
|
Peel Hunt LLP (Joint Corporate
Broker)
Luke Simpson / Huw Jeremy (Investment Banking Division)
|
Tel: +44 (0)20 7418
8900
|
|
Smith Square Partners LLP (Financial
Advisor)
John Craven / Douglas
Gilmour
|
Tel: +44 (0)20 3696
7260
|
|
Camarco (PR
Advisor)
Louise Dolan / Eddie Livingstone-Learmonth / Phoebe Pugh
|
Tel: +44 (0)20 3757
4982
asianenergyimpacttrust@camarco.co.uk
|
About Asian Energy Impact Trust
plc
Asian Energy Impact Trust plc listed on the
premium segment of the main market of the London Stock Exchange in
December 2021 and was awarded the Green Economy Mark upon
admission. The Company is an Article 9 fund under the EU
Sustainable Finance Disclosure Regulation.
With effect from 1 November 2023, the Company
appointed Octopus Energy Generation as
its transitional investment manager. The
Company's transitional investment management arrangements, continue
in place on a monthly basis until the orderly realisation proposal
is approved by shareholders.
Further information on the Company can be found
on its website at
www.asianenergyimpact.com.
About Octopus Energy
Generation
Octopus Energy Generation ("OEGEN") is driving the renewable
energy agenda by building green power for the future.
Its London-based, leading specialist renewable energy fund
management team invests in renewable energy assets and broader
projects helping the energy transition, across operational,
construction and development stages. The team was set up in 2010
based on the belief that investors can play a vital role in
accelerating the shift to a future powered by renewable energy. It
has a 13-year track record with approximately £6.7 billion of
assets under management (AUM) (as of December 2023) across 19
countries and total 3.7GW. These renewable projects generate enough
green energy to power 2.4 million homes every year, the equivalent
of taking over 1.4 million petrol cars off the road. Octopus Energy
Generation is the trading name of Octopus Renewables
Limited.
Further details can be found at www.octopusenergygeneration.com.