19 December 2024
Triple
Point Energy Transition plc
("TENT"
or the "Company" and together with its
subsidiaries, the "Group")
Board
changes
The Board of Triple Point Energy Transition plc
(ticker: TENT) announces that John Roberts has decided to step down
as the Chair of the Company with immediate effect, given the
substantial progress made in the managed wind-down, and in order to
reduce operating costs. Rosemary Boot will assume the role of Chair
and the remaining Directors will continue on the Board.
The Board is keen to maximise the
cash returned to shareholders as part of the wind-down and has
carefully considered the required size and composition of the
Board. Given the progress in respect of the disposals to date, and
the substantial progress made in respect of the sale of the TENT
Holdings, a Board of three Directors is felt to be sufficient to
oversee the short remaining period prior to the proposed members'
voluntary liquidation.
Rosemary will continue as Chair of
the Audit Committee which the Board believes is acceptable in the
circumstances. Further, Anthony White has been appointed as Senior
Independent Director.
Rosemary Boot, Chair of the Company
commented:
"On behalf of the Board, Triple
Point and our Shareholders, I would like to thank John for his
contribution to the Company since IPO in 2020, particularly during
the last two years in what has been a challenging time for
investment trusts operating in the energy transition sector, with
significant macro-economic and political turmoil over that period.
We wish John well in his future activities, and I look forward to
working with my fellow Directors and Triple Point to achieve the
best result possible in respect of the remaining asset disposals,
prior to entering into a proposed members' voluntary
liquidation."
For further information, please
contact:
|
Triple Point Investment Management
LLP
Jonathan Hick
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 the Company declared a special dividend to
return value to shareholders.