SDCL Energy Efficiency Income Tst Result of Extraordinary General Meeting (6264G)
18 March 2020 - 10:05PM
UK Regulatory
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: +44 (0) 20 7287 7700
LLP
Jonathan Maxwell
Eugene Kinghorn
Keith Driver
Jefferies International Limited T: +44 (0) 20 7029 8000
Gary Gould
Tom Yeadon
Gaudi Le Roux
TB Cardew T: +44 (0) 20 7930 0777
Ed Orlebar M: +44 (0) 7738 724 630
Lucas Bramwell E: seeit@tbcardew.com
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 rns@lseg.com or visit www.rns.com.
END
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