LEI: 254900V23329JCBR9G82
7 May 2024
Asian Energy Impact Trust plc
(the "Company" or "AEIT")
NISPI cash return
Asian Energy Impact Trust plc (the "Company") announces that, on 2 May 2024, it received US$5.6 million from its investment in Negros Island Solar Power Inc. ("NISPI").
NISPI is an investment based in the Philippines which owns and operates three solar power projects with a capacity of 80MW. AEIT holds a 40% economic ownership in NISPI.
The monies received arise after successful collaboration with the joint owners to approve a partial redemption of shares in NISPI. Following this cash return, the level of economic ownership and percentage of voting rights that AEIT holds in NISPI remains unchanged. On a pro forma basis, the return is broadly NAV neutral for the Company.
Sue Inglis, Chair of Asian Energy Impact Trust plc, said: "We are pleased to have received this cash return from our investment in NISPI in advance of finalising the details of the proposed orderly realisation strategy, which we expect to announce later this month. The details will include the anticipated amount and timing of the initial return of capital to shareholders should they approve the proposal at a general meeting to be held in June. In determining that amount, regard will be had to, amongst others, AEIT's cash balance, accrued and prospective costs, the additional funding required of up to US$4.5 million to complete construction of the RUMS project and a provision for contingencies."
Enquiries
| Asian Energy Impact Trust plc | Tel: +44 (0)20 3757 1892 |
| Octopus Energy Generation (Transitional Investment Manager) | Tel: +44 (0)20 4530 8369 |
| Shore Capital (Joint Corporate Broker) | Tel: +44 (0)20 7408 4050 |
| Peel Hunt LLP (Joint Corporate Broker) | Tel: +44 (0)20 7418 8900 |
| Smith Square Partners LLP (Financial Advisor) | Tel: +44 (0)20 3696 7260 |
| Camarco (PR Advisor) | Tel: +44 (0)20 3757 4982 |
About Asian Energy Impact Trust plc
Asian Energy Impact Trust plc listed on the premium segment of the main market of the London Stock Exchange in December 2021 and was awarded the Green Economy Mark upon admission. The Company is an Article 9 fund under the EU Sustainable Finance Disclosure Regulation.
With effect from 1 November 2023, the Company appointed Octopus Energy Generation as its transitional investment manager. The Company's transitional investment management arrangements, continue in place on a monthly basis until the orderly realisation proposal is approved by shareholders.
Further information on the Company can be found on its website at www.asianenergyimpact.com.
About Octopus Energy Generation
Octopus Energy Generation ("OEGEN") is driving the renewable energy agenda by building green power for the future. Its London-based, leading specialist renewable energy fund management team invests in renewable energy assets and broader projects helping the energy transition, across operational, construction and development stages. The team was set up in 2010 based on the belief that investors can play a vital role in accelerating the shift to a future powered by renewable energy. It has a 13-year track record with approximately £6.7 billion of assets under management (AUM) (as of December 2023) across 19 countries and total 3.7GW. These renewable projects generate enough green energy to power 2.4 million homes every year, the equivalent of taking over 1.4 million petrol cars off the road. Octopus Energy Generation is the trading name of Octopus Renewables Limited.
Further details can be found at www.octopusenergygeneration.com.
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