TENT Triple Point Energy Transition Plc

24 February 2025

Triple Point Energy Transition plc

("TENT" or the "Company")

Result of General Meeting

Appointment of Joint Liquidators

The Board of Triple Point Energy Transition plc announces the result of the Company's General Meeting held earlier today.

All resolutions were voted by way of a poll and the Board is pleased to announce that the resolutions required to place the Company into members' voluntary liquidation ("Liquidation") were approved by the requisite majorities of Shareholders. As a result, Henry Anthony Shinners and Adam Henry Stephens, licensed insolvency practitioners of Evelyn Partners LLP of 45 Gresham Street, London, United Kingdom EC2V 7BG, (the "Joint Liquidators") have been appointed with immediate effect.

The Joint Liquidators will use their best endeavours to make the Initial Distribution of approximately £43 million to Shareholders as soon as possible and, in any event, within 10 business days. The Joint Liquidators, in their absolute discretion, will make further distributions of capital as and when further cash from deferred payments becomes available and any creditors have been satisfied, with a view to making a subsequent distribution in Q3 2025 and a final distribution of any residual cash (and winding up the Company) expected to be made in Q4 2026.

Trading in the Company's Shares remains suspended and the Joint Liquidators will seek to cancel the admission of the Shares to the Official List of the FCA and to trading on the Main Market of the London Stock Exchange following the payment of the Initial Distribution.

For the avoidance of doubt, in light of the approval of the Liquidation, the Tender Offer will not proceed.

Following the Liquidation's approval, Rosemary Boot, Anthony White and Sonia McCorquodale have stepped down as Directors of the Company with immediate effect.

Rosemary Boot, Chair of the Company, commented:

"The Board would like to thank Shareholders for taking the time to vote and have their voices heard at this crucial meeting. The Liquidation is the conclusion of the Managed Wind-Down process and represents the most cost-effective and tax-efficient way of returning value to Shareholders, with the most certainty.

With the appointment of the Joint Liquidators, the powers of the Directors now cease and we have stepped down. On behalf of my fellow Directors, I would like to thank Shareholders for their support, as well as the Triple Point team and our other advisers for their services over the past four years and for helping to deliver a swift and successful Managed Wind-Down."

Voting Results

Resolution 1 was proposed as a special resolution (requiring a majority of at least 75% of votes cast to be approved) while Resolutions 2 and 3 were proposed as ordinary resolutions (requiring a simple majority of votes cast to be approved).

*A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution

All defined terms included herein are as set out in the Circular regarding the Proposals which is available on the Company's website at https://www.tpenergytransition.com/investor-communication/151/. Copies of the resolutions will also be available shortly on the National Storage Mechanism in accordance with UKLR 6.4.

For further information, please contact:

LEI: 213800UDP142E67X9X28

Further information on the Company can be found on its website: http://www.tpenergytransition.com/

NOTES:

The Company is an investment trust which was established to invest in assets that support the transition to a lower carbon, more efficient energy system and help the UK achieve Net Zero. 

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority. Triple Point manages private, institutional, and public capital, and has a proven track record of investment in energy transition and decentralised energy projects.

On 22 March 2024, shareholders approved the Company's proposed orderly realisation of assets which was completed with the sale of the final assets announced on 22 January 2025. At a general meeting held on 24 February 2025, shareholders voted to place the Company into members' voluntary liquidation and trading in the Company's ordinary shares remains suspended until further notice.