SDCL Energy Efficiency Income Tst Result of Extraordinary General Meeting (6264G)

TIDMSEIT

RNS Number : 6264G

SDCL Energy Efficiency Income Tst

18 March 2020

18 March 2020

SDCL Energy Efficiency Income Trust plc

("SEEIT" or the "Company")

Result of Extraordinary General Meeting (the "EGM")

The Board of SEEIT is pleased to announce the result of the resolution put to shareholders at the Extraordinary General Meeting held on 18 March 2020 at 10.00am at Herbert Smith Freehills LLP, 12 Primrose Street, Exchange Square, City of London, EC2A 2EG.

The notice of the EGM and proposed agenda and resolution were circulated to shareholders and announced to the market on 28 February 2019.

Total votes of 268,751,125 were cast at the EGM representing 84% of shares in issue. Over 99% of all votes cast were in favour and as a result the single resolution proposed at the EGM was approved by shareholders.

The results of the voting are noted as follows:

 
     ORDINARY RESOLUTION           FOR       AGAINST   WITHHELD 
                                                                  % Votes 
 No.   Description                Votes       Votes     Votes       Cast 
      ----------------------  ------------  --------  ---------  -------- 
       AMENDMENT TO THE 
        COMPANY'S INVESTMENT 
  1     OBJECTIVE AND POLICY   268,746,388     4,737          0       100 
      ----------------------  ------------  --------  ---------  -------- 
 

A copy of this announcement will be available on the Company's website and, in accordance with Listing Rule 9.6.2, the full text of the resolution passed at the EGM may be found in the Notice of EGM published on 28 February 2020 available from the National Storage Mechanism at http://www.morningstar.co.uk/uk/NSM.

For Further Information

 
 Sustainable Development Capital   T: [phone] 
  LLP 
  Jonathan Maxwell 
  Eugene Kinghorn 
  Keith Driver 
 Jefferies International Limited   T: [phone] 
  Gary Gould 
  Tom Yeadon 
  Gaudi Le Roux 
 TB Cardew                         T: [phone] 
  Ed Orlebar                        M: [phone] 
  Lucas Bramwell                    E: [e-mail] 
 

About the Company

SDCL Energy Efficiency Income Trust plc is the first listed company of its kind to invest exclusively in the energy efficiency sector. Examples of the projects in the portfolio include combined cooling/heating and power plants, as well as Energy Efficiency Projects in the UK and the US. Since acquisition of its seed portfolio following its IPO, the Company has announced further investments in a number of diversified portfolio of energy efficiency assets, including a portfolio of rooftop solar photovoltaic projects for Tesco in the UK and a portfolio of cogeneration assets in north east United States, which were identified as pipeline projects in its IPO prospectus, as well as an additional investment in a portfolio of energy efficiency loans in the United States, a portfolio of cogeneration assets in Spain and a portfolio of recycled energy and cogeneration projects in the United States .

The Company's total assets are currently allocated across the UK, Europe and North America in broadly equal proportions.

The Company aims to deliver shareholders value through its investments in a diversified portfolio of Energy Efficiency Projects which are driven by the opportunity to deliver lower cost, cleaner and more reliable energy solutions to end users of energy.

The Company is targeting an attractive total return for shareholders of 7-8 per cent. per annum (net of fees and expenses and by reference to the Placing price of GBP1.00 per Ordinary Share), with a stable dividend income, capital preservation and the opportunity for capital growth. The Company is targeting a dividend of 5.0p per share in respect of the current financial year to 31 March 2020 and 5.5p per share in respect of the next financial year to 31 March 2021.

Further information can be found on the Company's website at www.sdcleeit.com.

Investment Manager

The Company's investment manager is Sustainable Development Capital LLP ("SDCL"), an investment firm established in 2007, with a proven track record of investment in energy efficiency and decentralised generation projects in the UK, Continental Europe, North America and Asia.

SDCL is headquartered in London and the group also operates worldwide from offices in New York, Dublin and Singapore. SDCL is authorised and regulated in the UK by the Financial Conduct Authority.

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 [e-mail] or visit www.rns.com.

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March 18, 2020 07:05 ET (11:05 GMT)