Only accessible to investors in the UK, Ireland and the Netherlands.
Downing Renewables and Infrastructure Trust (DORE) held a webinar on Monday 11th October 2021 at 10am.
On 29th September DORE announced its intention to raise new equity capital by way of a placing to raise up to c£25m. The issue price of 102.50 pence per share represents a discount of 1.20% to DORE’s closing share price on 5th October 2021.
The Placing Price of 102.50 pence represents a discount of 1.68 per cent. to the Company’s closing share price of 104.25 pence per Ordinary Share on 28 September 2021 (being the last business day prior to the date of publication of this Announcement) and a premium of 3.33 per cent. to the unaudited ex-dividend net asset value per share as at 30 June 2021.
Proceeds will be used to take advantage of pipeline assets, including four opportunities over which the manager has secured exclusivity or is in bilateral negotiations with a total investment amount of about £87m, and a wider pipeline of assets in the UK, Nordics and Northern Europe with a total investment amount in excess of £4.3bn.
DORE manager, Tom Williams on the webinar highlighted the key results from the first half-year report, and discussed why now is the right time for a capital raise.
Read our latest note HERE.
The placing is being conducted by way of a book building process and is expected to close at 1.00 pm on Wednesday 13th October 2021.
QuotedData is the trading name of Marten & Co. Marten & Co does not seek to and is not permitted to provide investment advice to individual investors.
The details of the placing, including the risk factors that investors should take into consideration, are more fully described in the announcement on 29 September 2021 and we urge you to read this before making any investment decision. If you have any doubts about the suitability of an investment you should seek professional advice.
- Tom Williams
Partner & Head of Energy & Infrastructure
20 years’ experience as principal and adviser across private
equity and debt infrastructure sectors. Tom has transacted
in renewables, energy, transport, utilities, telecoms, defence
- Tom Moore
Partner & Head of Asset Management
Previously director at Foresight Group with oversight of
a significant portfolio of renewable energy investments.
Chartered Accountant with prior experience in practice and
a boutique hedge fund.
- Henrik Dahlström
Investment Director, Energy & Infrastructure
17 years’ experience as principal investor in renewable
energy and infrastructure. Formerly director at Macquarie
Infrastructure and Real Assets, responsible for Nordic