Ecofin US Renewables Infrastr.Trust New Management Fee
January 21 2025 - 1:56AM
RNS Regulatory News
RNS Number : 1039U
Ecofin US Renewables Infrastr.Trust
21 January 2025
21 January 2025
NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US
PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO
WHOM, TO DO SO WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN
DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR
ANY SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR
OTHERWISE ACQUIRE, ANY INVESTMENTS IN ANY JURISDICTION.
ECOFIN U.S. RENEWABLES
INFRASTRUCTURE TRUST PLC (the
"Company")
New Management
Fee
The Company's Board of Directors is
pleased to announce a successful re-negotiation of the management
fee the Company pays to Ecofin Advisers, LLC ("Ecofin") under the
Investment Management Agreement dated 11 November 2020. The
changes are aimed at better aligning the interests of Ecofin with
shareholders' interests.
Under the terms of the investment
management agreement Ecofin is entitled to 1 per cent. per annum of
the Net Asset Value ("NAV") up to and equal to US$500 million,
payable quarterly in arrears. In respect of any quarter
beginning 1 January 2025 onwards, the fee will be determined by the
lower of the Company's market capitalisation or NAV.
In addition, management fees for Q3
2024 will be based on the NAV as adjusted downwards so as to take
into account the price realised for the sale of the DG Solar assets
as per the RNS dated 13 December 2024.
For
further information, please contact:
|
Ecofin U.S. Renewables Infrastructure Trust plc (via the
Company Secretary)
Brett Miller
|
|
|
Ecofin Advisors, LLC (Investment
Manager)
Edward Russell
|
+1 913 981
1020
|
|
Stifel (Corporate Broker)
Edward Gibson-Watt
Madison Kominski
|
+44 20
7710 7600
|
|
Apex Listed Companies Services (UK) Limited (Company
Secretary)
Jenny Thompson
Edmar Mabal
|
+44 20
4582 6470
|
Further information on the Company
can be found on its website at https://rnewfund.com/
The Company's LEI
is 2138004JUQUL9VKQWD21.
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END
MSCPPUPAGUPAUMG
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