Downing Renewables & Infrastructure Result of General Meeting and Total Voting Rights (0227Q)

TIDMDORE

RNS Number : 0227Q

Downing Renewables & Infrastructure

23 June 2022

23 June 2022

Downing Renewables & Infrastructure Trust plc

("DORE" or the "Company")

Result of General Meeting and Total Voting Rights

At the Company's General Meeting held earlier today all of the resolutions were decided by poll and all were passed. The results of the poll are set out below

 
 Resolutions                            Votes               Votes                Total       Votes 
                                          For        %    Against       %        Votes    Withheld 
                                                                                  Cast 
 1. To grant the Directors 
  authority to allot up 
  to 250 million Ordinary 
  Shares in the period 
  to 6 June 2023                   65,314,349   99.99%      9,536   0.01%   65,323,885      36,519 
 2. To amend the Company's 
  investment policy as 
  set out in the Circular.         65,314,349   99.99%      9,536   0.01%   65,323,885      36,519 
 3. To disapply the pre-emption 
  rights in respect of 
  the allotment of Ordinary 
  Shares pursuant to Resolution 
  1.                               65,271,426   99.92%     52,459   0.08%   65,323,885      36,519 
 

Notes:

A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" and "Against" a resolution.

Further to the announcement made by the Company earlier today, the Company has successfully raised gross proceeds of c.GBP52.9 million through the issue of in aggregate 47,614,000 Ordinary Shares at a price of 111 pence per Ordinary Share pursuant to the Initial Issue.

Applications have been made to the FCA and the London Stock Exchange for 47,614,000 Ordinary Shares issued pursuant to the Initial Issue to be admitted to the premium segment of the Official List and to trading on the premium segment of the London Stock Exchange's main market. Admission is expected to occur on 27 June 2022.

Following completion of the Initial Issue, the Company's issued share capital will comprise 184,622,487 Ordinary Shares. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if 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.

The Ordinary Shares issued pursuant to the Initial Issue will, following Initial Admission, rank pari passu in all respects with the existing Ordinary Shares and will carry the right to receive all dividends and distributions declared, made or paid on or in respect of the Ordinary Shares by reference to a record date after Initial Admission.

Unless otherwise defined, the terms used in this announcement shall have the same meaning as set out in the prospectus of the Company dated 7 June 2022.

Contact details:

 
 Downing LLP - Investment Manager to the 
  Company 
  Tom Williams                                         [phone] 
 Singer Capital Markets - Sponsor, Financial 
  Adviser and Joint Bookrunner to the Company 
  Robert Peel, Alaina Wong, Asha Chotai (Investment 
  Banking) 
  Sam Greatrex, Alan Geeves, James Waterlow, 
  Paul Glover, William Gumpel (Sales)                  [phone] 
 Winterflood Securities Limited - Joint 
  Bookrunner to the Company 
  Neil Morgan, Verity Wilson (Corporate Finance) 
  Darren Willis, Andrew Marshall (Sales)               [phone] 
 TB Cardew - Public relations advisor to               [phone] 
  the Company                                           [phone] 
  Ed Orlebar                                            [phone] 
  Tania Wild                                            [phone] 
  Lucas Bramwell                                        [e-mail] 
 

About Downing Renewables & Infrastructure Trust plc

DORE is a closed-end investment trust that aims to provide investors with an attractive and sustainable level of income, with an element of capital growth, by investing in a diversified portfolio of renewable energy and infrastructure assets in the UK and Northern Europe. DORE has been awarded the London Stock Exchange's Green Economy Mark in recognition of its contribution to the global 'Green Economy'.

The Board classifies DORE as a sustainable fund with a core objective of accelerating the transition to net zero through its investments, compiling and operating a diversified portfolio of renewable energy and infrastructure assets to help facilitate the transition to a more sustainable future. The Company believes that this directly contributes to climate change mitigation.

DORE's strategy, which focuses on diversification by geography, technology, revenue and project stage, is designed to increase the stability of revenues and the consistency of income to shareholders. For further

details please visit   www.doretrust.com . 

LEI: 2138004JHBJ7RHDYDR62

About Downing LLP

Downing LLP is a London-based investment management firm. It has over 25,000 investors and currently manages c.GBP1.7 billion of equity invested into businesses across a range of sectors, from renewable energy, care homes, health clubs, and children's nurseries, to technology and sports nutrition. Downing has a demonstrable track record in renewables, having made more than 176 investments into solar parks, wind farms and hydroelectric plants since 2010.

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June 23, 2022 11:20 ET (15:20 GMT)