Renewables Infrastructure Grp (The) Issue of Equity (6997R)
September 25 2017 - 4:33AM
UK Regulatory
TIDMTRIG
RNS Number : 6997R
Renewables Infrastructure Grp (The)
25 September 2017
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,
Shareholdings of Managers 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 arrangements 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 (855,315 Ordinary Shares (the "Management Ordinary
Shares"), subject only to Admission (defined below).
The issue price per Management Ordinary Share is 99.0p, which is
the 30 June 2017 NAV of 100.6p less the 1.60p 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 Management Agreement between, inter alia, the Company
and the Operations Manager and dated 5 July 2013 (the "Operations
Management Agreement"), 555,955 and 299,360 new Ordinary Shares
have been allotted to the Investment Manager and the Operations
Manager respectively. This is for the period from 1 January to 30
June 2017.
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 30 June 2017, elections
for the scrip dividend alternative were received in respect of
19.15% of the Ordinary Shares in issue as at the record date of 18
August 2017. As a consequence, the Company has today issued
2,665,412 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 31 March 2017 is available for inspection at the
National Storage Mechanism www.morningstar.co.uk/uk/NSM 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 Management Ordinary Shares and Scrip
Shares will commence at 8.00 a.m. on 29 September 2017
("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 945,735,615, 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
InfraRed Capital Partners
Limited
Richard Crawford
Matt Dimond +44 (0) 20 7484 1800
Tulchan Communications
Martin Pengelley
Latika Shah +44 (0) 20 7353 4200
Canaccord Genuity Limited
Andrew Zychowski
Lucy Lewis +44 (0) 20 7523 8000
Liberum Capital Limited
Steve Pearce
Chris Clarke +44 (0) 20 3100 2000
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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