THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATON FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMENDED. ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
4 October 2024
Triple
Point Energy Transition plc
("TENT"
or the "Company" and together with its
subsidiaries, the "Group")
CHP deferred consideration
update
On 24 June 2024 Triple Point Energy Transition
plc (ticker: TENT) announced the disposal of the CHP
Portfolio, comprising loans to Harvest, Glasshouse and Spark
Steam, through a refinancing by P3P Partners LLP amounting to,
in aggregate, £17.5 million. The disposal
comprised an immediate payment of £14.5 million received in June
2024, together with three subsequent payments of £1 million, due to
be received on 30 September 2024, 30 June 2025 and 30 September
2026, under a promissory note agreement.
The first instalment of £1 million
due on 30 September 2024, was only partially paid.
Accordingly, the Group has reserved all its rights under the
promissory note agreement.
The Group is in active discussions
regarding a payment plan with P3P Partners in respect of all
amounts due under the promissory note, and will provide an update
once discussions have concluded.
For further information, please
contact:
|
Triple Point Investment Management
LLP
Jonathan Hick
Christophe Arnoult
Chloe Smith
|
+44 (0) 20 7201 8989
|
|
J.P. Morgan Cazenove (Corporate
Broker)
William Simmonds
Jérémie Birnbaum
|
+44
(0) 20 3493 8000
|
|
Akur Limited (Financial Adviser)
Tom Frost
Siobhan Sergeant
|
+44
(0) 20 7493 3631
|
LEI: 213800UDP142E67X9X28
Further information on the Company
can be found on its website: http://www.tpenergytransition.com/
NOTES:
The Company is an investment trust
which was established to invest in
assets that support the transition to a lower carbon, more
efficient energy system and help the UK achieve Net
Zero.
The Investment Manager is Triple
Point Investment Management LLP ("Triple Point") which is
authorised and regulated by the Financial Conduct Authority. Triple
Point manages private, institutional, and public capital, and has a
proven track record of investment in energy transition and
decentralised energy projects.
On 22 March 2024, shareholders
approved the Company's proposed orderly realisation of assets and
on 6 September 2024 declared a special dividend to return capital
to shareholders. Details of future
divestments or returns of capital are expected to be announced via
a Regulatory Information Service in due course.