SDCL Energy Announces Result of Placing and Total Voting Rights

Source: www.gulfoilandgas.com 2/12/2021, Location: Europe

The Board is pleased to announce that the placing of New Ordinary Shares pursuant to the Company's existing Share Issuance Programme (the "Placing") announced on 4 February 2021 has received a strong level of support from investors.

Taking into account the strength of the Company's near-term acquisition pipeline, the Board has determined to increase the size of the Placing to £160 million. Accordingly, the Placing will result in the issue of 150.9 million New Ordinary Shares at the Placing Price of 106 pence per share. Notwithstanding the increased size of the Placing, applications for the New Ordinary Shares exceeded the total number of shares to be issued and accordingly a scaling back exercise has taken place.

Tony Roper, Chairman of SDCL Energy Efficiency Income Trust plc said:

" We are grateful for the strong support we have once again received from both new and existing investors in this over-subscribed placing. The Company has a strong pipeline of both organic investments and new acquisition opportunities, which in total exceeds £200 million. In light of the strength of investor demand and reflecting our confidence in both the depth and near-term availability of the pipeline, we have increased the size of the placing. We also intend to repay the existing debt facilities of £65 million. Debt facilities can be drawn in the future to make new investments.

We continue to focus on ensuring that we create value and deliver stable returns for our shareholders through the expansion, improvement and diversification of our portfolio. With global commitments to achieving net zero from businesses and governments and COP26 taking place at the end of the year, this is a very exciting time to be investing in energy efficiency projects, which play an essential role in reducing carbon emissions."

Admission of New Ordinary Shares and Total Voting Rights

Applications have been made for all of the New Ordinary Shares to be admitted to the Premium Listing segment of the Official List of the UK Financial Conduct Authority (the "FCA") and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will take effect, and dealings in the Placing Shares will commence, at 8.00 a.m. (London time) on 16 February 2021.

The New Ordinary Shares will be issued in registered form and may be held in uncertificated form. The New Ordinary Shares allocated will be issued to Placees through the CREST system unless otherwise stated. The New Ordinary Shares will be eligible for settlement through CREST with effect from Admission. The New Ordinary Shares, when issued, will rank pari passu with the existing Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Immediately following Admission, the Company will have 677,087,135 ordinary shares in issue and therefore the total voting rights in the Company will be 677,087,135. This figure may be used by shareholders as the denominator for the calculations by which they may determine whether or not they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.


Saudi Arabia >>  4/9/2021 - Aramco has signed a deal with a consortium led by EIG Global Energy Partners (“EIG”), one of the world’s leading energy infrastructure investors, to o...
Norway >>  3/31/2021 - As a result of successful joint venture as pool managers, we are pleased to announce that we have agreed to expand our services to “MaruKlav 2.0” offe...

United States >>  3/31/2021 - Chart Industries Inc., a leading global manufacturer of liquefaction and cryogenic equipment serving multiple applications in the clean energy and ind...
Australia >>  3/30/2021 - Santos, as operator of the Barossa joint venture, has announced a final investment decision (FID) has been taken to proceed with the US$3.6 billion ga...

Scotland >>  3/29/2021 - KRG Engineering (KRG), a leading turnkey precision engineering specialist, announces its ambitious global growth plan across a number of sectors, incl...
Taiwan >>  3/29/2021 - Camfil has commenced operation at its new plant in Tainan, Taiwan which will contribute in a circular systematic way to benefit the business, and the ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.