ECOFIN GL.UTIL.+INFR.

Ecofin US Renewables Infrastructure will issue B shares with a par value of $1 to effect a capital return of about $10 million to shareholders. One B share will be allotted for every 13.8078496 ordinary shares; the B shares will be immediately redeemed at $1 on the issue date and the amounts will be paid in pounds sterling at the Bank of England spot rate. The payment will be made from distributable reserves, will not dilute the ordinary shares but will reduce net assets; payment will be made by 22 May, and the ex-date and allotment details have been announced. » Mere på de.investing.com

David Simpson resigned with effect from Thursday as chairman and as a member of the board. Susannah Nicklin immediately took on the role of chair. The company gave no information on the reasons for Simpson’s resignation or on Nicklin’s previous role in the trust. » Mere på de.investing.com

Ecofin US Renewables completed the sale of the Whirlwind plant to Buho Infrastructure for about $12 million. $11 million will be held in escrow for up to 11 months due to a curtailment issue; additionally, earn-outs of up to $7 million are possible for repowering measures. The transaction was carried out via the subsidiary TC Renewable Holdco VII and is in line with the published investment strategy; Marathon Capital Markets acted as financial adviser. » Mere på de.investing.com