Renewables Infrastructure Grp (The) Cancellation of Scrip Dividend Alternative (1330G)
13 Marzo 2020 - 08:30AM
UK Regulatory
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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