SDCL Energy Efficiency Income Tst Purchase of Shares by Investment Manager (9061W)
15 Dicembre 2023 - 8:00AM
UK Regulatory
TIDMSEIT
RNS Number : 9061W
SDCL Energy Efficiency Income Tst
15 December 2023
15 December 2023
SDCL Energy Efficiency Income Trust plc
("SEEIT" or the "Company")
Purchase of shares in Company by Investment Manager
Sustainable Development Capital LLP ("SDCL"), the Investment
Manager of SDCL Energy Efficiency Income Trust plc, has acquired
1,000,000 Ordinary Shares (approx. GBP0.6 million) of Ordinary
Shares in the Company at a price of 62 pence per share, via a
wholly owned subsidiary. Following the purchase and settlement of
these shares, the SDCL group owns 1,000,001 Ordinary Shares in the
Company, which represents approximately 0.1% of the Ordinary Shares
in issue at this date.
Jonathan Maxwell, CEO of Sustainable Development Capital LLP,
said:
"Our purchase of SEEIT shares in the market underscores our
confidence in the value of the Company's large, unique and
diversified portfolio of over GBP1 billion of energy efficiency
projects. As Investment Manager, we believe that the shares
represent exceptional value given the high dividend yield, covered
by cash flow, and a substantial discount to net asset value. The
purchase follows share purchases by members of management and the
board throughout 2023.
We believe that SEEIT is well positioned to benefit from the
acceleration in the energy efficiency market. Energy efficiency is
the largest, fastest, cheapest and cleanest source of greenhouse
gas emission reductions, as well as energy cost reductions and
energy security. Strong policy support in the United States and
Europe is now reinforced by the outcome of the UN climate change
conference, COP28, which for the first time calls for a doubling of
the rate of energy efficiency improvements alongside a tripling of
renewable energy, as the first priorities to achieve
decarbonisation."
For Further Information
Sustainable Development Capital T: +44 (0) 20 7287 7700
LLP
Jonathan Maxwell
Eugene Kinghorn
Purvi Sapre
Toby Richardson
Jefferies International Limited T: +44 (0) 20 7029 8000
Tom Yeadon
Gaudi Le Roux
TB Cardew T: +44 (0) 20 7930 0777
Ed Orlebar M: +44 (0) 7738 724 630
Henry Crane E: SEEIT@tbcardew.com
About SEEIT
SDCL Energy Efficiency Income Trust plc is a constituent of the
FTSE 250 index. It was the first UK listed company of its kind to
invest exclusively in the energy efficiency sector. Its projects
are primarily located in the UK, Europe and North America and
include, inter alia, a portfolio of cogeneration assets in Spain, a
portfolio of commercial and industrial solar and storage projects
in the United States, a regulated gas distribution network in
Sweden and a district energy system providing essential and
efficient utility services on one of the largest business parks in
the United States.
The Company aims to deliver shareholders value through its
investment in a diversified portfolio of energy efficiency projects
which are driven by the opportunity to deliver lower cost, cleaner
and more reliable energy solutions to end users of energy.
Past performance cannot be relied on as a guide to future
performance.
Further information can be found on the Company's website at
www.seeitplc.com .
Investment Manager
SEEIT's investment manager is Sustainable Development Capital
LLP, an investment firm established in 2007, with a proven track
record of investment in energy efficiency and decentralised
generation projects in the UK, Continental Europe, North America
and Asia.
SDCL is headquartered in London and also operates worldwide from
offices in New York, Dublin, Hong Kong and Singapore. SDCL is
authorised and regulated in the UK by the Financial Conduct
Authority.
Further information can be found on at www.sdclgroup.com .
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END
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