Asian Energy Impact Trust PLC Appointment of Transitional Investment Manager (9448R)
01 Novembro 2023 - 4:00AM
UK Regulatory
TIDMAEIT TIDMAEIP
RNS Number : 9448R
Asian Energy Impact Trust PLC
01 November 2023
LEI: 254900VC23329JCBR9G82
1 November 2023
Asian Energy Impact Trust plc
(the " Company " )
Appointment of Octopus Energy Generation as transitional
investment manager
Further to the announcement on 28 September 2023 that it had
agreed heads of terms, the Board announces that it has entered into
a transitional investment management agreement with the Company's
AIFM, Adepa Asset Management S.A. ("Adepa"), and Octopus Renewables
Limited ("Octopus Energy Generation") under which, effective from 1
November 2023, Octopus Energy Generation will act as the Company's
transitional investment manager.
Octopus Energy Generation's immediate priorities will be to
assist finalising the 31 December 2022 and 30 June 2023 valuations,
2022 audit and accounts and 2023 interim report and lifting the
suspension of admission to listing and trading of the Company's
shares as soon as possible. This process will include undertaking
detailed due diligence on the Company's assets, including the
in-construction 200 MW DC solar PV project in Rewa Ultra Mega Solar
Park (the "RUMS Project"), to ensure the completeness and accuracy
of all information required to finalise the outstanding valuations,
audit and financial reports.
In preparation for commencing its role as the Company's
transitional investment manager, Octopus Energy Generation has
begun to develop a more detailed understanding of the RUMS Project
and concurs with the Board's view, as set out in the circular to
shareholders dated 11 October 2023 (the "Circular") , that there is
a reasonable likelihood that the ultimate net present value of the
RUMS Project is materially more negative than the estimate, in the
base case scenario, of GBP13 million stated in the Circular, which
was an estimate only and based on a number of assumptions,
including (i) that construction is completed by 31 March 2024, (ii)
that the yield once the RUMS Project is operational does not fall
materially below expectations and (iii) that the project finance is
refinanced by December 2024 on terms equivalent to, or better than,
those assumed for the purpose of the estimate. Due to the extremely
tight timeline for completing the RUMS Project, both the Board and
Octopus Energy Generation believe that there is a reasonable
likelihood of construction not being fully completed on time.
The Company will provide, via a further announcement, a full
update on the outcome of Octopus Energy Generation's detailed due
diligence on the Company's assets, including the RUMS Project, as
soon as it is available.
Enquiries:
Asian Energy Impact Trust plc Tel: +4 4 (0)20 3757 1892
Sue Inglis, Chair
Octopus Energy Generation Tel: +44 (0)20 4530 8369
P ress Office
Shore Capital (Joint Corporate Broker) Tel: +44 (0)20 7408 4050
Robert Finlay / Rose Ramsden (Corporate)
Adam Gill / Matthew Kinkead / William Sanderson (Sales)
Fiona Conroy (Corporate Broking)
Peel Hunt LLP (Joint Corporate Broker) Tel: +44 (0)20 7418 8900
Luke Simpson / Huw Jeremy (Investment Banking Division)
Alex Howe / Richard Harris / Michael Bateman / Ed Welsby (Sales)
Smith Square Partners LLP Tel: +44 (0)20 3696 7260
(Financial Adviser to the Company)
John Craven / Douglas Gilmour
Camarco (PR Adviser) Tel: +44 (0)20 3757 4982
Louise Dolan / Eddie Livingstone-Learmonth / Phoebe Pugh asianenergyimpacttrust@camarco.co.uk
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
APPKFLFXXBLEFBX
(END) Dow Jones Newswires
November 01, 2023 03:00 ET (07:00 GMT)
Thomaslloyd Energy Impact (LSE:TLEP)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Thomaslloyd Energy Impact (LSE:TLEP)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
