Greencoat UK Wind PLC Update (8901G)
March 20 2020 - 2:00AM
UK Regulatory
TIDMUKW
RNS Number : 8901G
Greencoat UK Wind PLC
20 March 2020
20 March 2020
Greencoat UK Wind plc
(the "Company")
UPDATE
The health of the Company's shareholders and Board is of the
utmost importance and given the UK Government's advice on social
distancing, travel and measures to prohibit public gatherings in
order to minimise the spread of COVID-19, the Company has decided
to change the location of its Annual General Meeting (" AGM ") on
30 April 2020. Specific details will be announced in due
course.
Only the formal business set out in the Notice of Meeting will
be considered at the AGM. Shareholders wishing to vote on any of
the matters of business are encouraged to do so through completion
of a proxy form which can be completed and submitted to the Company
no later than 2.00 p.m. on 28 April 2020.
Portfolio generation to date in 2020 has been strong and is
approximately 20% ahead of budget (over 30% of the 2020 generation
budget has already been produced) and forward power prices for the
remainder of 2020 are relatively stable. The Company's target
dividend of 7.1 pence per share is expected to be well covered.
The Company's overall borrowings are equivalent to 25 per cent
of GAV, in the middle of its medium term guidance of between 20 and
30 per cent of GAV, all of which sits at Company level.
For further information, please contact:
Greencoat UK Wind PLC 020 7832 9425
Stephen Lilley
Laurence Fumagalli
Tom Rayner
Ocorian - Company Secretary 028 9693 0210
Cheryl Surgeoner
Headland Consultancy 020 3805 4822
Stephen Malthouse
Rob Walker
Charlie Twigg
Notes to Editors:
Greencoat UK Wind PLC is the leading listed renewable
infrastructure fund, invested in 36 operating UK wind farms with
net generating capacity of 998MW. The Company's aim is to provide
investors with an annual dividend that increases in line with RPI
inflation (7.10p for 2020) while preserving the capital value of
its investment portfolio in the long term on a real basis through
reinvestment of excess cash flow and the prudent use of
gearing.
UKW provides investors with the opportunity to participate
directly in the ownership of UK wind farms, so increasing the
resources and capital dedicated to the deployment of renewable
energy and the reduction of greenhouse gas emissions.
UKW is managed by an experienced team at Greencoat Capital LLP,
a leading European renewable investment manager with approximately
GBP5 billion of assets under management. UKW is governed by a
strong and experienced independent board.
UKW is incorporated in England and Wales and is a UK Investment
Trust.
For more information about UKW, please visit
http://www.greencoat-ukwind.com
For more information about Greencoat Capital LLP, please visit
http://www.greencoat-capital.com
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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