THIS ANNOUNCEMENT IS FOR INFORMATION
PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER FOR SALE OF ANY
SECURITIES OR AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN
ANY JURISDICTION OR A SOLICITATION OF ANY VOTE OR
APPROVAL.
NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART IN, INTO
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
Bridgepoint Group
plc
("Bridgepoint" or the
"Company")
Update on Transaction
Timetable
Further to Bridgepoint's announcement
on 6 September 2023 regarding the agreement to add Energy Capital
Partners Holdings, LP and its affiliated entities to the platform
(the "Transaction") (and
additional announcements on 2 October 2023 and 20 October 2023),
Bridgepoint confirms that all relevant regulatory clearances have
now been received for the Transaction, save for a clearance applied
for by ECP ControlCo, LLC from the Federal Energy Regulatory
Commission ("FERC").
On 1 March, FERC issued an order
where it did not grant the authorisation sought on the basis that
insufficient information had been provided with respect to proposed
voting restrictions agreed to by one of Bridgepoint's minority
shareholders to limit their indirect control over certain FERC
regulated entities. The FERC order expressly provides that it is
without prejudice to ECP ControlCo, LLC's ability to submit a new
filing providing additional information addressing the points
raised, and it is intended that such an application will be made in
the coming days. To simplify the process for the new
application, Bridgepoint is also working with the relevant
shareholder to address the points raised in the FERC order.
Any arrangements entered into by such shareholder will not have any
impact on the underlying terms of the Transaction.
However, as a result of the
requirement to re-file the FERC application, Bridgepoint now
expects Closing to occur during the second quarter of
2024.
Capitalised terms not otherwise
defined in this announcement have the meaning given to them in the
circular published on 2 October
2023.
ENQUIRIES:
Bridgepoint
FGS Global (Public Relations Adviser
to Bridgepoint)
Charles O'Brien / +44 20 7251 3801 /
+44 7825 043 656
Anjali Unnikrishnan / +44 20 7251
3801 / +44 7826 534 233
bridgepoint@fgsglobal.com
Legal Entity
Identifier (LEI):
213800KFNMVI8PDZX472