31 August 2023
Triple Point Energy Transition plc
("TENT" or the "Company" or together with its subsidiaries, the "Group")
Result of AGM
Change to the Investment Policy
Change of Name
Triple Point Energy Transition plc (ticker: TENT), the London Stock Exchange listed investment company focused on building a portfolio of diversified infrastructure investments that support the energy transition, is pleased to announce that at the Company's Annual General Meeting held on 31 August 2023, all resolutions were voted on by way of a poll and were passed by shareholders.
Resolutions 1 to 9 were proposed as ordinary resolutions and resolutions 10 tand 11 were proposed as special resolutions. The results of the poll are set out below.
| Resolution | Votes For | % | Votes Against | % | Total votes validly cast | Total votes cast as % of issued share capital | Votes Withheld* | |
| 1 | To receive and adopt the Annual Report and accounts of the Company for the year ended 31 March 2023 |
53,273,320 | 100 | 1,000 | 0 | 53,274,320 | 53.27 | 4,570 |
| 2 | To approve the Directors' Remuneration Report | 53,253,435 | 99.97 | 18,385 | 0.03 | 53,271,820 |
53.26 |
7,070 |
| 3 | To re-elect Dr John Roberts CBE as a Director of the Company | 53,267,928 | 100 | 0 | 0 | 53,267,928 | 53.26 | 10,962 |
| 4 | To re-elect Rosemary Boot as a Director of the Company | 53,261,757 | 99.99 | 6,171 | 0.01 | 53,267,928 | 53.26 | 10,962 |
| 5 | To re-elect Sonia McCorquodale as a Director of the Company | 53,261,757 | 99.99 | 6,171 | 0.01 | 53,267,928 | 53.26 | 10,962 |
| 6 | To re-elect Dr Anthony White MBE as a Director of the Company | 53,267,928 | 100 | 0 | 0 | 53,267,928 | 53.26 | 10,962 |
| 7 | To re-appoint BDO LLP as Auditors of the Company | 53,261,686 | 99.98 | 12,634 | 0.02 | 53,274,320 | 53.27 | 4,570 |
| 8 | To authorise the Audit Committee to determine the Auditors' remuneration | 53,267,928 | 99.99 | 6,392 | 0.01 | 53,274,320 | 53.27 | 4,570 |
| 9 | To authorise the Directors to declare and pay all dividends of the Company as interim dividends | 53,274,320 | 100 | 0 | 0 | 53,274,320 | 53.27 | 4,570 |
| 10 | To authorise the Company to purchase its own shares | 53,261,686 | 99.98 | 12,634 | 0.02 | 53,274,320 | 53.27 | 4,570 |
| 11 | To authorise the calling of general meetings, other than an annual general meeting, on not less than 14 clear days' notice | 53,226,276 | 99.98 | 8,044 | 0.02 | 53,234,320 | 53.23 | 44,570 |
*A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.
Every shareholder has one vote for every Ordinary Share held. As at 31 August 2023, the issued share capital of the Company consisted of 100,014,079 Ordinary Shares. The Company holds no Ordinary Shares in treasury. Therefore, the total voting number of voting rights in the Company is 100,014,079 Ordinary Shares.
The full text of all the resolutions can be found in the Notice of Annual General Meeting dated 16 June 2023, a copy of which is available on the Company's website at Triple Point | Triple Point Energy Transition plc (tpenergytransition.com).
In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For further information, please contact:
| Triple Point Investment Management LLP Jonathan Hick Christophe Arnoult
| +44 (0) 20 7201 8989 | |
| J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum
| +44 (0) 20 3493 8000 | |
| Akur Limited (Financial Adviser) Tom Frost Anthony Richardson Siobhan Sergeant
| +44 (0) 20 7493 3631 | |
| +44 (0) 20 7466 5111 |
LEI: 213800UDP142E67X9X28
Further information on the Company can be found on its website: www.tpenergytransition.com
NOTES:
The Company is an investment trust which aims to invest in assets that support the transition to a lower carbon, more efficient energy system and help the UK achieve Net Zero.
Since its IPO in October 2020, the Company has made the following investments and commitments:
· Harvest and Glasshouse: provision of £21m of senior debt finance to two established combined heat and power ("CHP") assets, located on the Isle of Wight, supplying heat, electricity and carbon dioxide to the UK's largest tomato grower, APS Salads ("APS") - March 2021
· Spark Steam: provision of £8m of senior debt finance to an established CHP asset in Teesside supplying APS, as well as a further power purchase agreement through a private wire arrangement with another food manufacturer - June 2021
· Hydroelectric Portfolio (1): acquisition of six operational, Feed in Tariff ("FiT") accredited, "run of the river" hydroelectric power projects in Scotland, with total installed capacity of 4.1MW, for an aggregate consideration of £26.6m (excluding costs) - November 2021
· Hydroelectric Portfolio (2): acquisition of a further three operational, FiT accredited, "run of the river" hydroelectric power projects in Scotland, with total installed capacity of 2.5MW, for an aggregate consideration of £19.6m (excluding costs) - December 2021
· BESS Portfolio: commitment to provide a debt facility of £45.6m to a subsidiary of Virmati Energy Ltd (trading as "Field"), for the purposes of building a portfolio of four geographically diverse Battery Energy Storage System ("BESS") assets in the UK with a total capacity of 110MW - March 2022
· Energy Efficient Lighting (1): Funding of c.£1m to a lighting solutions provider to install efficient lighting and controls at a leading logistics company - September 2022
· Energy Efficient Lighting (2): Commitment of c.£1m to a lighting solutions provider to install efficient lighting and controls at a leading logistics company, of which £0.3m invested to date - November 2022
· Innova: Provision of a £5m short term development financing facility to Innova Renewables, building out a portfolio of Solar and BESS assets across the UK - March 2023
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.
Following its IPO on 19 October 2020, the Company was admitted to trading on the Premium Segment of the Main Market of the London Stock Exchange on 28 October 2022. The Company was also awarded the London Stock Exchange's Green Economy Mark.
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