This is a cross post about an offer announced yesterday: viewtopic.php?p=439481#p439481
Drat, it's a bit annoying, I topped up SEIT (SDCL Energy Efficiency trust) a couple of weeks back (@118p) which also brought my holding to a nice round figure, and I don't really want anymore. Now today I get an odd number of shares offered to me through the offer below, at a discount price of 110.5p, (at a premium of 7.8% (a discount from the usual c 14% premium).
I suppose I shall have to buy the additional ones offered. (I'm a bit too late to sell some at c118p as the SP is now down to 113p)
2 September 2021
SDCL Energy Efficiency Income Trust plc
(the "Company")
Proposed Open Offer, Placing, Offer for Subscription and Intermediaries Offer
The Board of Directors (the "Board") of SDCL Energy Efficiency Income Trust plc announces a proposed Open Offer, Placing, Offer for Subscription and Intermediaries Offer to raise approximately £175 million through an issue of new Ordinary Shares in the capital of the Company at a price of 110.5 pence per share (the "Initial Issue").
Highlights:
· Initial Issue of approximately of 158,371,040 New Ordinary Shares at 110.5 pence per New Ordinary Shares (the "Issue Price") by way of an Open Offer, Placing, Offer for Subscription and Intermediaries Offer pursuant to the Share Issuance Programme.
· The Issue Price of 110.5 pence represents a 7.8 per cent premium to the Company's 31 March 2021 Net Asset Value (" NAV ") of 102.5 pence per Ordinary Share and a discount of 6.0 per cent to the Company's closing share price of 117.5 pence per Ordinary Share on 1 September 2021 (being the last business day prior to this Announcement);
· Shareholders who qualify for the Open Offer ("Qualifying Shareholders") will be offered the opportunity to participate in the Open Offer on the basis of 1 New Ordinary Share for every 6 Existing Ordinary Shares. Qualifying Shareholders will also be offered the opportunity to subscribe for New Ordinary Shares in addition to their Open Offer Entitlement under an excess application facility.
· Investors in the Initial Issue will be entitled to receive the next quarterly dividend declared by the Company for the three-month period to 31 September 2021, which is expected to be declared in December 2021.
https://www.investegate.co.uk/sdcl-ener ... 00074695K/