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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aquila Energy Efficiency Trust Plc | LSE:AEET | London | Ordinary Share | GB00BN6JYS78 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.25 | 0.42% | 59.50 | 57.00 | 62.00 | 59.50 | 59.00 | 59.00 | 10,961 | 08:45:39 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 2.67M | 137k | 0.0014 | 425.00 | 59.5M |
TIDMAEET
RNS Number : 4115J
Aquila Energy Efficiency Trust PLC
16 August 2023
The information contained in this announcement does not constitute an offer or invitation for the sale or purchase of any securities or any of the business or assets of the Company and it is not intended to form the basis of any investment decision nor constitute or contain any recommendation by the Company or Stifel or any of their respective directors, employees, agents or advisers.
16 August 2023
Aquila Energy Efficiency Trust Plc
(the "Company")
Shareholder update
Portfolio sale process
At the Annual General Meeting of the Company (the "AGM") held on 14 June 2023, shareholders voted in favour of the Company's change of investment policy (the "New Investment Policy"). The Board has been reviewing strategic options for the portfolio, including a sale of all of the Company's assets, and other proposals that address the Company's size and liquidity. Accordingly, the process to market test the portfolio sale is commencing today and is being conducted by Stifel Nicolaus Europe Limited ("Stifel") on behalf of the Company. Any enquiries in respect of the proposed portfolio sale process should be directed to Stifel (details below).
Over the past few months, the Board has been assessing proposals and will continue to do so in the context of delivering greater value to its shareholders in a shorter timeframe than would otherwise be achieved under the Managed Run-Off (as defined below).
The Board will keep shareholders updated on progress, as appropriate. There can be no certainty as to the outcome of the proposals being explored nor whether any potential transaction would be successfully completed.
Background
Following the AGM, and in accordance with the New Investment Policy, the Company entered a managed run-off of its portfolio, meaning it is not making any new investments (save for in limited circumstances as set out in the New Investment Policy) and its investing activity is solely in respect of funding legal commitments to existing investments (the "Managed Run-Off").
The Managed Run-Off was put forward as a resolution to shareholders in response to the outcome of the Company's continuation vote held in February 2023, which did not pass.
For further information, please contact:
Stifel Nicolaus Europe Limited (Sole Financial Adviser 020 7710 7600 and Corporate Broker) SNELProjectBloom@stifel.com Edward Gibson-Watt, Mark Young, Rajpal Padam, Madison Kominski Buchanan (Financial PR) Charles Ryland, George Beale 020 7466 5000 Apex Listed Companies Services (UK) Limited (Company Secretary) Sinead van Duuren 020 3327 9720
The Company's LEI is 213800AJ3TY3OJCQQC53
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(END) Dow Jones Newswires
August 16, 2023 02:00 ET (06:00 GMT)
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