LEI: 254900V23329JCBR9G82

24 August 2023

ThomasLloyd Energy Impact Trust plc

(the "Company")

Results of Requisitioned General Meeting and Adjourned Annual General Meeting

ThomasLloyd Energy Impact Trust plc announces the results of the Requisitioned General Meeting (the "Requisitioned GM") and the Adjourned Annual General Meeting (the "Adjourned AGM") of the Company held today. All resolutions were voted on by a poll.

As set out in the circular to shareholders dated 31 July 2023, which contained the Notice of Requisitioned General Meeting and Notice of Adjourned Annual General Meeting (the "Circular"), the resolutions proposed at the Requisitioned GM and the Adjourned AGM were necessarily exactly the same (save for the numbering of the resolutions).

Shareholders representing approximately 58% of the votes cast voted against the Continuation Resolution proposed at each of the Requisitioned GM and the Adjourned AGM, in line with the Board's recommendation.

Of the total votes cast by shareholders that are independent of the Company's Investment Manager, ThomasLloyd Global Asset Management (Americas) LLC and other entities and funds affiliated with it, approximately 69% were cast against the Continuation Resolution proposed at each of the Requisitioned GM and the Adjourned AGM.

Shareholders representing approximately 53% of the total issued share capital of the Company voted against the Continuation Resolution proposed at each of the Requisitioned GM and the Adjourned AGM.

The results of the polls were:

At the Requisitioned GM: 

At the Adjourned AGM: 

Shareholders are entitled to one vote per share. Votes withheld are not a vote in law and are therefore not counted in the calculation of the percentages of the votes cast for and against a resolution. Where shareholders appointed the Chair as their proxy with discretion as to voting, their votes were cast against resolutions 1 and 5 and their votes have been included in the "votes against" column. Where shareholders appointed the Chair as their proxy with discretion as to voting, their votes were cast for resolutions 2, 3, 6 and 7 and their shares have been included in the "votes for" column.

The total number of ordinary shares of US$0.01 each in issue is 175,684,705. The total number of voting rights is: 175,684,705.

Next steps

In accordance with the Company's articles of association and as set out in the Company's announcement of 31 July 2023, as the Continuation Resolution has not passed, the Board is required to bring forward proposals for the future of the Company for consideration by shareholders within four months of the date of the vote on the Continuation Resolution being held. The Board is commencing, therefore, an immediate review of the options for the Company's future. As feedback from recent shareholder engagement has reiterated the importance to many shareholders of the impact strategy which the Company was established to deliver, the Board's review will include inviting proposals for a relaunch of the Company. The Board will consult and update shareholders at key stages of the review process.

In addition to the review of options for the Company's future, the Board's immediate priorities include:

·           completing the re-evaluation of the RUMS Project, consulting shareholders with regard to the outcome of the re-evaluation and, subject to shareholder feedback, implementing the outcome;

·           ensuring the ongoing management of the Company's operating assets and providing shareholders with an update on the performance of those assets;

·           finalising the 31 December 2022 and 30 June 2023 valuations, 2022 accounts and audit and 2023 interim report; and

·           lifting the Suspension.

The Continuation Resolution having been voted down, the Board will now finalise its plans for progressing these important workstreams, including setting out a timescale for delivering its immediate priorities, and will make a further announcement shortly. The Board intends to provide shareholders with regular updates as the workstreams progress.

Sue Inglis, Chair of ThomasLloyd Energy Impact Trust plc, said: "Shareholders representing a notable majority of the Company's issued share capital, and independent shareholders by a majority of more than two to one (based on shares held), have supported the Board by voting against continuation at today's shareholder meetings. The Board would like to thank shareholders for their support and giving the Board a clear mandate for the way forward. In addition to completing the key workstreams required for lifting the share trading suspension, the Board will also now develop proposals for the Company's future, consulting and updating shareholders at key stages during this process."

Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the circular to shareholders dated 31 July 2023.

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