Ecofin US Renewables Announces Purchase of Management Fee Shares

Source: www.gulfoilandgas.com 2/2/2023, Location: North America

The Company announces that, in accordance with the terms of the Investment Management Agreement (the "IMA") with Ecofin Advisors, LLC (the "Investment Manager"), on 1 February 2023 the Investment Manager purchased 59,096 Ordinary Shares in the market (the "Management Fee Shares") at an average price of $0.835 per Management Fee Share, representing the management fee due for the three-month period ended 31 December 2022.

Pursuant to the IMA, 15 per cent. of the management fee is payable in the form of Ordinary Shares, subject to a rolling lock-up of 12 months. The details of the IMA were disclosed in the Company's Annual Report for the period ended 31 December 2021.

Combined with previous Management Fee Share purchases and issuances, the Investment Manager and the relevant associates hold a total of 346,887 Management Fee Shares.


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