Aquila European Renewables PLC Response to Octopus Renewables Infra announcement (7753X)
22 Décembre 2023 - 9:33AM
UK Regulatory
TIDMAERS TIDMORIT TIDMAERI
RNS Number : 7753X
Aquila European Renewables PLC
22 December 2023
22 December 2023
Aquila European Renewables plc ("AERI", or the "Company")
Response to announcement regarding the proposed combination with
Octopus Renewables Infrastructure Trust plc ("ORIT")
The Board of AERI notes the announcement released today by ORIT
(the "ORIT Proposed Combination Announcement") proposing that AERI
undertake a scheme of reconstruction pursuant to section 110 of the
Insolvency Act 1986 (the "ORIT Proposed Combination") in order to
combine with ORIT. AERI confirms it has received unsolicited
proposals from ORIT in relation to a possible combination on a to
be defined formula asset value for formula asset value basis.
AERI announced on 14 December 2023 that, together with its
advisers, it continues to explore a number of different initiatives
to address the issues facing the sector and to secure recognition
in the Company's share price of the real underlying value of the
Company's portfolio.
In connection with this, the Board of AERI has also committed to
consider broader options for the future of the Company, including
the possible combination with another listed investment company by
way of a section 110 of the Insolvency Act 1986. It is the Board's
intention to consider the ORIT Proposed Combination as part of this
wider process early in the New Year.
The Board of AERI will make further announcements when
appropriate.
For further information please contact:
Deutsche Numis (Financial Adviser and Broker)
David Benda +44 020 7260 1000
Stuart Ord
George Shiel
Media contacts
Edelman Smithfield
Ged Brumby 07540-412301
Apex Listed Companies Services (UK) Limited (Company Secretary) +44 020 3327 9720
LEI Number: 213800UKH1TZIC9ZRP41
NOTES
The objective of Aquila European Renewables plc is to provide
investors with an attractive long-term, income-based return in EUR
through a diversified portfolio of wind, solar PV and hydropower
investments across continental Europe and Ireland. Through the
diversification of generation technologies, the seasonal production
patterns of these asset types complement each other to balance the
cash flow, while the geographic diversification serves to reduce
exposure to one single energy market. In addition, a balance is
maintained between government supported revenues, fixed price power
purchase agreements and market power price risk.
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END
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