SDCL Energy Efficiency Income Trust plc  

The Board is pleased to announce that the placing of New Ordinary Shares pursuant to the Company’s existing Share Issuance Programme (the “Placing”) announced on 13 October 2020 has received a strong level of support from investors and has been significantly oversubscribed.

Taking into account the strength of the Company’s near-term acquisition pipeline, as well as further positive progress with the negotiations to acquire an established, operational and regulated energy network in a major Western European city (the “Target Asset”), the Board has determined to increase the size of the Placing from gross proceeds of £80 million to £105 million by re-allocating New Ordinary Shares available under the Share Issuance Programme to the Placing. Accordingly, the Placing will result in the issue of 100 million New Ordinary Shares at the Placing Price of 105 pence per share.

As applications for the New Ordinary Shares have exceeded the gross proceeds accepted, a scaling back exercise has taken place.

Tony Roper, Chairman of SDCL Energy Efficiency Income Trust plc said:

“We are grateful for the strong support we have received from both new and existing investors. Given the strength of investor demand and the progress we have made with our near-term acquisition pipeline, we have increased the amount raised to £105m from £80m. The new funds will allow SEEIT to continue to invest in energy efficiency projects that are essential for reducing carbon emissions, while delivering stable and attractive returns for our investors, as we further expand and diversify our portfolio.”

 Link to RNS