VH Global Sustainable Energy Oppt. Share Buyback Programme of up to GBP10 million (5207M)
15 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMGSEO
RNS Number : 5207M
VH Global Sustainable Energy Oppt.
15 September 2023
VH Global Sustainable Energy Opportunities plc
15 September 2023
Share Buyback Programme of up to GBP10 million
The Board of VH Global Sustainable Energy Opportunities plc (the
"Company" or "GSEO") notes the discount at which the GSEO share
price trades as compared to its NAV per Ordinary Share and is
acutely aware of the impact this has on shareholder returns. As
noted in the Company's interim report (published today), the Board
continually evaluates the optimum capital allocation strategy for
the Company balancing the need to maintain a strong balance sheet
in order to support existing portfolio assets alongside further
investment opportunities and returning capital to shareholders via
dividends or share buybacks. The Board notes that it will commit to
undertake share buybacks when it believes those to be in the best
interests of shareholders.
As such, the Board today announces a Share Buyback Programme for
up to GBP10 million.
The Share Buyback Programme will be carried out under the
existing shareholder authorisation granted at the last Annual
General Meeting for purchases of Ordinary Shares by the Company in
the market for up to 14.99% of the Company's issued capital.
The Share Buyback Programme is expected to be accretive to both
NAV per Ordinary Share and dividend cover, as well as providing
additional liquidity for GSEO's underlying shares. The Share
Buyback Programme is expected to be funded from the Company's
surplus liquidity.
www.vh-gseo.com
The Company's LEI is 213800RFHAOF372UU580.
For further information:
Edelman Smithfield (PR Adviser)
Ged Brumby + 44 (0)7540 412 301
Hamza Ali + 44 (0)7976 308 914
Victory Hill Capital Partners LLP (Investment Manager)
Navin Chauhan info@victory-hill.com
Numis (Corporate Broker)
David Benda +44 (0)20 7260 1000
Matt Goss +44 (0)20 7260 1642
Apex Fund and Corporate Services (UK) Limited (Company
Secretary)
ukfundcosec@apexfs.com
About Victory Hill Capital Partners LLP
Victory Hill Capital Partners LLP ("Victory Hill") is authorised
and regulated by the Financial Conduct Authority (FRN 961570).
Victory Hill is based in London and was founded in May 2020 by
an experienced team of energy financiers that have spun-out of a
large established global project finance banking group. The team
has participated in more than $200bn in transaction values across
91 conventional and renewable energy-related transactions in over
30 jurisdictions worldwide. Victory Hill is the investment manager
of the Company.
The Victory Hill team deploys its experience across different
financial disciplines in order to assess investments holistically
from multiple points of view. The firm pursues operational
stability and well-designed corporate governance to generate
sustainable positive returns for investors. It focuses on
supporting and accelerating the energy transition and the
attainment of the UN Sustainable Development Goals.
Victory Hill is a signatory of the United Nations Principles for
Responsible Investing (UN PRI), the United Nations Global Compact
(UN GC), Net Zero Asset Managers Initiative (NZAMI), a member of
the Global Impact Investing Network (GIIN) and is a formal
supporter of the Financial Stability Board's Task-Force on
Climate-related Disclosures (TCFD).
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