3 February 2025
Triple Point Energy Transition plc
("TENT" or the "Company" and together with its subsidiaries, the "Group")
LIQUIDATION TIMETABLE UPDATE
Further to the Company's announcement on 23 January 2025 (RNS Number: 3861U), the Board of Directors of TENT announces a revision to the expected timetable for the De-Listing of the Company's Shares in the event that the Liquidation is approved at the General Meeting to be held on 24 February 2025.
This revision has been made in response to feedback from certain Shareholders in respect of Shares held within Individual Savings Accounts ("ISAs").
In the event that Shareholders approve the proposed Liquidation at the General Meeting:
| · | The Liquidators will be appointed immediately following the General Meeting (as previously anticipated).
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| · | While the Shares will be suspended from trading from 7.30 a.m. on the date of the General Meeting, the Company will now only seek the cancellation of the admission of the Shares to the Official List of the FCA and to trading on the Main Market of the London Stock Exchange ("De-Listing") after the payment of the Initial Distribution by the Liquidators. The Initial Distribution is expected to be made as soon as possible after the General Meeting and, in any event, within 10 Business Days thereof.
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| · | As a result of this revised timing for De-Listing, the Shares are expected to continue to be "qualifying investments" for ISA purposes until after the Initial Distribution.
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| · | The last time and date on which Shareholders will be able to acquire or dispose of Shares on-market remains 6.00 p.m. on 21 February 2025.
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The timetable in respect of the proposed Tender Offer, if approved by Shareholders at the General Meeting (and the Liquidation is not approved), remains unchanged.
Shareholders who are in any doubt as to the action they should take should consult an appropriate independent professional adviser.
Expected timetable of events
| Latest time and date for receipt of Forms of Proxy for the General Meeting | 9.00 a.m. on 20 February 2025 |
| Latest time and date for receipt of Tender Forms and TTE Instructions | 1.00 p.m. on 21 February 2025 |
| Record date for entitlement to vote at the General Meeting
| 6.00 p.m. on 21 February 2025 |
| Record date for participation in the Liquidation or the Tender Offer
| 6.00 p.m. on 21 February 2025 |
| Suspension of Shares from listing on the Official List and to trading on the Main Market
| 7.30 a.m. 24 February 2025 |
| General Meeting | 9.00 a.m. on 24 February 2025 |
| Results of General Meeting announced | 24 February 2025 |
| If the Liquidation Resolutions are passed: | |
| Appointment of Liquidators | 24 February 2025 |
| Initial Distribution to Shareholders* | by 10 March 2025* |
| Cancellation of the listing of the Shares on the Official List and of the trading of the Shares on the Main Market** | As soon as practicable following the Initial Distribution ** |
| If the Liquidation Resolutions are not passed and the Tender Offer Resolution is passed: | |
| Results of Tender Offer announced | 24 February 2025 |
| Lifting of the suspension of Shares from listing on the Official List and to trading on the Main Market and commencement of the Tender Offer
| 7.30 a.m. on 25 February 2025 |
| Purchase date of the Shares subject to the Tender Offer | 25 February 2025 |
| Settlement through CREST of, and despatch of cheques for, the Tender Offer consideration, as appropriate | by 4 March 2025 |
| Despatch of balance share certificates and crediting of CREST accounts with Shares not purchased | by 10 March 2025 |
* Actual date to be determined by the Liquidators
** The actual date will be dependent on the timing of the Initial Distribution
YOUR VOTE IS EXTREMELY IMPORTANT AND EVERY VOTE MATTERS
YOU ARE ENCOURAGED TO VOTE ON ALL THE RESOLUTIONS
The Circular setting out details of the Proposals and containing the Notice of General Meeting, together with the amended timetable as set out above, are available on the Company's website at https://www.tpenergytransition.com/investor-communication/151/. All defined terms included herein are as set out in the Circular.
If you are in any doubt as to how to register your vote for the General Meeting or how to tender your shares, contact details for where you can seek assistance are set out on this website.
For further information, please contact:
| Triple Point Investment Management LLP Jonathan Hick Chloe Smith
| +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 Siobhan Sergeant
| +44 (0) 20 7493 3631 |
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.
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