Renewables Infrastructure Grp (The) Result of Equity Issue (0478B)

TIDMTRIG

RNS Number : 0478B

Renewables Infrastructure Grp (The)

30 March 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE INCLUDING IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR TO U.S. PERSONS.

This announcement is an advertisement and not a prospectus. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information contained in the prospectus published by The Renewables Infrastructure Group Limited ("TRIG" or the "Company") in connection with the placing of New Ordinary Shares pursuant to the Company's share issuance programme announced on 27 April 2016 (the "Share Issuance Programme") and the admission of any New Ordinary Shares issued pursuant to the Placing to the premium segment of the Official List of the Financial Conduct Authority and to trading on London Stock Exchange plc's main market for listed securities. The prospectus published in connection with the Company's share issuance programme comprises the registration document, securities note and summary published by the Company on 27 April 2016, (as supplemented by the supplementary prospectuses dated 18 August 2016 and 23 February 2017) (the "Prospectus"). This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

30 March 2017

The Renewables Infrastructure Group Limited

Result of Issue

Further to its announcement on 23 March 2017, the Board of The Renewables Infrastructure Group Limited is pleased to announce that the Company has raised gross proceeds of GBP110.0 million through the issue of 106,796,117 New Ordinary Shares at a price of 103.0 pence per New Ordinary Share (the "Placing"). The Placing was materially oversubscribed and demand has been scaled back substantially to GBP110 million. This represents a significant increase from the Company's initial target size of GBP50 million for the Placing.

Applications have been made for the New Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 3 April 2017 ("Admission").

The net proceeds from the Placing will be applied towards TRIG's pipeline of acquisitions, including the previously announced 100 per cent. interest in a 30.6MW onshore wind project in Wales and a 100 per cent. interest in a battery storage project in Scotland with 20MW of output capacity in respect of which the Company has entered into exclusivity agreements with its Operations Manager, Renewable Energy Systems ("RES").

Canaccord Genuity and Liberum Capital acted as joint bookrunners in relation to the Placing.

Total Voting Rights

Immediately following Admission, the Company's issued share capital will consist of 941,214,980 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 and Transparency Rules.

Capitalised terms not otherwise defined in this announcement shall have the meaning set out in the Prospectus.

For further information, please contact:

 
 InfraRed Capital 
  Partners Limited 
 
  Richard Crawford 
  Matt Diamond               +44 (0) 20 
  Phil George                7484 1800 
 Canaccord Genuity 
  Limited 
 
  Andrew Zychowski           +44 (0) 20 
  Lucy Lewis                 7523 8000 
 Liberum Capital 
  Limited 
 
  Steve Pearce 
  Chris Clarke               +44 (0) 203 
  Henry Freeman              100 2000 
 Tulchan Communications 
  Doug Campbell              +44 (0) 20 
  Latika Shah                7353 4200 
 

This document is not for release, publication or distribution (directly or indirectly) in or into the United States, Australia, Canada, Japan, the Republic of South Africa or to any "US person" as defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or into any other jurisdiction where applicable laws prohibit its release, distribution or publication. It does not constitute an offer of securities for sale anywhere in the world, including in or into the United States, Canada, Australia, Japan or the Republic of South Africa. No recipient may distribute, or make available, this document (directly or indirectly) to any other person. Recipients of this document in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of this document may in certain jurisdictions be restricted by law.

The Company's Ordinary Shares have not been and will not be registered under the U.S. Securities Act or with any securities regulatory authority of any state or other jurisdiction of the United States and, subject to certain exceptions, may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction in the United States. The Company has not been and will not be registered as an "investment company" under the U.S. Investment Company Act of 1940, as amended ("the "Act"), and investors will not be entitled to the benefits of that Act. In addition, relevant clearances have not been, and will not be, obtained from the securities commission (or equivalent) of any province of Australia, Canada, Japan or the Republic of South Africa and, accordingly, unless an exemption under any relevant legislation or regulations is applicable, none of the New Ordinary Shares may be offered, sold, renounced, transferred or delivered, directly or indirectly, in Australia, Canada, Japan or the Republic of South Africa.

Each of InfraRed Capital Partners Limited ("InfraRed"), Canaccord Genuity Limited ("Canaccord Genuity") and Liberum Capital Limited ("Liberum") is authorised and regulated by the UK Financial Conduct Authority. None of InfraRed, Canaccord Genuity or Liberum is acting as adviser to any recipient of this document or will be responsible to any recipient of the document for providing the protections afforded to clients of any of them or for providing advice in connection with this document or any of the matters referred to herein.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 30, 2017 08:20 ET (12:20 GMT)