16th Aug 2023 10:21
(Alliance News) - Aquila Energy Efficiency Trust PLC on Wednesday said it has been reviewing strategic options for the portfolio, including a sale of all of the company's assets and other proposals addressing its size and liquidity.
The London-based closed-ended investment company, focusing on small-to-medium-sized energy efficiency projects, said this follows its annual general meeting in June, when shareholders voted in favour of changing the company's investment policy.
Following the AGM, the company entered managed run-off of its portfolio, meaning it is not making any new investments, except under certain limited circumstances.
Aquila Energy Efficiency said it will begin a market test of a portfolio sale on Wednesday, conducted by Stifel Nicolaus Europe Ltd on behalf of the company.
"Over the past few months, the board has been assessing proposals and will continue to do so in the context of delivering greater value to its shareholders in a shorter time-frame than would otherwise be achieved under the managed run-off," said Aquila Energy Efficiency.
"The board will keep shareholders updated on progress, as appropriate. There can be no certainty as to the outcome of the proposals being explored nor whether any potential transaction would be successfully completed."
Shares in Aquila Energy Efficiency were up 1.7% to 60.50 pence each in London on Wednesday morning.
By Greg Rosenvinge, Alliance News reporter
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