22nd Jan 2025 12:18
Triple Point Energy Transition PLC - London-based trust focused on investments in infrastructure projects supporting the green energy transition - Says it has now sold its last remaining investments for a total of GBP44.1 million, comprising its hydro-electric profile and the remaining LED receivables finance agreements. Arkaig Bidco Ltd, which is owned by Dalmore Capital Ltd, has bought the entire share capital of TENT Holdings Ltd, the subsidiary holding the portfolio and agreements. GBP43.1 million will be due on completion, with the rest due by the end of May.
Chair Rosemary Boot says: "While there are some small payment instalments remaining from the process, we have successfully sold the entire TENT portfolio within one year of initiating the wind-down strategy approved by shareholders, in a challenging market for realising investments. In that context, the successful sales, which overall delivered 89% of the portfolio carrying value is a strong outcome for shareholders. We look forward to announcing arrangements shortly regarding the return of value to shareholders."
Current stock price: 44.50 pence, down 3.8% in London on Wednesday at midday
12-month change: down 36%
By Emily Parsons, Alliance News reporter
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