TIDMTRIG
RNS Number : 5129H
Renewables Infrastructure Grp (The)
15 November 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE
REPUBLIC OF SOUTH AFRICA.
This announcement has been determined to contain inside
information for the purposes of the market abuse regulation (EU)
No.596/2014.
The Renewables Infrastructure Group Limited (the "Company" or
"TRIG")
Result of Issue
15 November 2018
Further to the announcement of 12 November 2018, the Board of
The Renewables Infrastructure Group Limited is pleased to announce
that the Company has raised gross proceeds of approximately
GBP79.05 million through the issue of 71,867,850 new ordinary
shares in the capital of the Company (the "New Ordinary Shares"),
the maximum amount available under the Issue, at a price of 110p
(the "Strike Price") per New Ordinary Share (the "Issue"). There
has been very strong institutional demand for the New Ordinary
Shares, well in excess of the maximum number of New Ordinary Shares
available under the Issue, resulting in scaleback at the Strike
Price.
The net proceeds of the Issue will be substantially applied in
repaying amounts drawn under the Company's revolving acquisition
facility (the "Acquisition Facility"), thereby providing the
Company with more capacity under the Acquisition Facility to take
advantage of the Company's attractive pipeline of investment
opportunities.
Canaccord Genuity Limited and Liberum Capital Limited acted as
joint bookrunners in relation to the Issue.
Application for Admission
Application has been made to the Financial Conduct Authority for
admission of the New Ordinary Shares to the premium segment of the
Official List and to London Stock Exchange plc for admission to
trading of the New Ordinary Shares on its main market for listed
securities (the "Main Market"), (together, "Admission"). It is
expected that Admission will become effective, and that dealings in
the New Ordinary Shares on the Main Market will commence, on or
around Monday, 19 November 2018.
Total Voting Rights
Immediately following Admission, the Company's issued share
capital will consist of 1,177,291,235 Ordinary Shares with voting
rights. This figure may be used by shareholders in determining the
denominator for the calculation by which they will establish if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
LEI: 213800N06Q7Q7HMOMT20
Enquiries:
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Phil George
Canaccord Genuity Limited +44 (0) 20 7523 8000
Lucy Lewis
Andrew Zychowski
Denis Flanagan
Liberum +44 (0) 20 3100 2000
Chris Clarke
Louis Davies
Tulchan Communications +44 (0) 20 7353 4200
Martin Pengelley
IMPORTANT INFORMATION
The distribution of this Announcement, and/or the issue of New
Ordinary Shares in certain jurisdictions may be restricted by law
and/or regulation. No action has been taken by the Company, the
Joint Bookrunners or any of their respective affiliates as defined
in Rule 501(b) under the U.S. Securities Act of 1933, as amended
(as applicable in the context used, "Affiliates") that would permit
an offer of the New Ordinary Shares or possession or distribution
of this Announcement or any other publicity material relating to
the New Ordinary Shares in any jurisdiction where action for that
purpose is required. Persons receiving this Announcement are
required to inform themselves about and to observe any such
restrictions.
Canaccord Genuity Limited, which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is acting
for the Company and for no one else in connection with the Issue
and will not be responsible to anyone other than the Company for
providing the protections afforded to its clients or for providing
advice in relation to the Issue, or any other matters referred to
herein.
Liberum Capital Limited, which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is acting
for the Company and for no one else in connection with the Issue
and will not be responsible to anyone other than the Company for
providing the protections afforded to its clients or for providing
advice in relation to the Issue, or any other matters referred to
herein.
Information to Distributors
Solely for the purposes of the product governance requirements
contained within: (a) EU Directive 2014/65/EU on markets in
financial instruments, as amended ("MiFID II"); (b) Articles 9 and
10 of Commission Delegated Directive (EU) 2017/593 supplementing
MiFID II; and (c) local implementing measures, in the UK being the
FCA's Product Intervention and Governance Sourcebook (PROD)
(together, the "MiFID II Product Governance Requirements"), and
disclaiming all and any liability, whether arising in tort,
contract or otherwise, which any "manufacturer" (for the purposes
of the MiFID II Product Governance Requirements) may otherwise have
with respect thereto, the New Ordinary Shares have been subject to
a product approval process, which has determined that the New
Ordinary Shares are: (i) compatible with an end target market of
professionally advised retail investors who do not need a
guaranteed income or capital protection and investors who meet the
criteria of professional clients and eligible counterparties, each
as defined in MiFID II; and (ii) eligible for distribution a) if to
professionally advised retail investors, through advised
distribution channels only; or b) through such distribution
channels as are appropriate to professional clients and eligible
counterparties, (in each case) as are permitted by MiFID II (the
"Target Market Assessment"). Notwithstanding the Target Market
Assessment, Distributors should note that: the price of New
Ordinary Shares may decline and investors could lose all or part of
their investment; the New Ordinary Shares offer no guaranteed
income and no capital protection; and an investment in New Ordinary
Shares is compatible only with investors who do not need a
guaranteed income or capital protection, who (either alone or in
conjunction with an appropriate financial or other adviser) are
capable of evaluating the merits and risks of such an investment
and who have sufficient resources to be able to bear any losses
that may result therefrom. The Target Market Assessment is without
prejudice to the requirements of any contractual, legal or
regulatory selling restrictions in relation to the Issue.
For the avoidance of doubt, the Target Market Assessment does
not constitute: (a) an assessment of suitability or appropriateness
for the purposes of MiFID II; or (b) a recommendation to any
investor or group of investors to invest in, or purchase, or take
any other action whatsoever with respect to New Ordinary Shares.
Each distributor is responsible for undertaking its own target
market assessment in respect of the New Ordinary Shares and
determining appropriate distribution channels.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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