TIDMTRIG

RNS Number : 1330G

Renewables Infrastructure Grp (The)

13 March 2020

13 March 2020

The Renewables Infrastructure Group Limited (the "Company")

Cancellation of Scrip Dividend Alternative

On 20 February 2020, the Company announced the reference price of 136.72p per new Ordinary Share (the "Reference Price") under the Company's scrip dividend alternative for the fourth quarterly interim dividend for the financial year ending 31 December 2019 (the "Q4 Dividend").

The Board has exercised its discretion to extend the Relevant Quarterly Dividend Deadline Date from 5.00 p.m. on 11 March 2020 until 5.00 p.m. today (13 March 2020).

Since the Reference Price was announced, equity markets globally have experienced very substantial falls in value. In the UK, the FTSE100 has fallen almost 30% and the FTSE 250 (of which the Company is a constituent) 28%. The Company's share price has reduced by 11% over the same period.

In light of these market conditions the Board has taken the decision to cancel the scrip dividend alternative in respect of the Q4 Dividend on the basis that the present market volatility and movements in the Company's share, could result in the Reference Price being materially in excess of the prevailing market price. Those Shareholders who elected to receive the Q4 Dividend as scrip will instead be paid in cash and, should they so wish, can choose to apply the cash dividend in acquiring Ordinary Shares in the secondary market at a price less than the Reference Price.

Capitalised terms shall have the meanings given to them in the Scrip Dividend Circular 2019 available on the Company's website to view and/or download at: www.trig-ltd.com in the Investor Relations, 'Reports & Publications', 'Circulars' section. It is also available from the National Storage Mechanism website ( www.morningstar.co.uk/uk/NSM ).'

For further information, please contact:

Enquiries

 
 Aztec Financial Services (Guernsey) 
  Limited 
  Chris Copperwaite 
  Laura Dunning                         +44 (0)1481 748831 
 InfraRed Capital Partners Limited 
  Richard Crawford 
  Phil George                           +44 (0) 20 7484 1800 
 Maitland/AMO 
  James Isola 
  Zara de Belder                        +44 (0) 20 7379 5151 
 Investec Bank Plc 
  Lucy Lewis 
  Denis Flanagan                        +44 (0) 20 7597 5661 
 Liberum Capital Limited 
  Chris Clarke 
  Gillian Martin                        +44 (0) 20 3100 2000 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 13, 2020 10:30 ET (14:30 GMT)

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