Renewables Infrastructure : Cancellation of Scrip Dividend Alternative

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Renewables Infrastructure Grp (The) - TRIG Cancellation of Scrip Dividend Alternative Released 14:30 13-Mar-2020

RNS Number : 1330G

Renewables Infrastructure Grp (The)

13 March 2020

13 March 2020

The Renewables Infrastructure Group Limited (the 'Company')

Cancellation of Scrip Dividend Alternative

On 20 February 2020, the Company announced the reference price of 136.72p per new Ordinary Share (the 'Reference Price') under the Company's scrip dividend alternative for the fourth quarterly interim dividend for the financial year ending 31 December 2019 (the 'Q4 Dividend').

The Board has exercised its discretion to extend the Relevant Quarterly Dividend Deadline Date from 5.00 p.m. on 11 March 2020 until 5.00 p.m. today (13 March 2020).

Since the Reference Price was announced, equity markets globally have experienced very substantial falls in value. In the UK, the FTSE100 has fallen almost 30% and the FTSE 250 (of which the Company is a constituent) 28%. The Company's share price has reduced by 11% over the same period.

In light of these market conditions the Board has taken the decision to cancel the scrip dividend alternative in respect of the Q4 Dividend on the basis that the present market volatility and movements in the Company's share, could result in the Reference Price being materially in excess of the prevailing market price. Those Shareholders who elected to receive the Q4 Dividend as scrip will instead be paid in cash and, should they so wish, can choose to apply the cash dividend in acquiring Ordinary Shares in the secondary market at a price less than the Reference Price.

Capitalised terms shall have the meanings given to them in the Scrip Dividend Circular 2019 available on the Company's website to view and/or download at:www.trig-ltd.comin the Investor Relations, 'Reports & Publications', 'Circulars' section. It is also available from the National Storage Mechanism website (www.morningstar.co.uk/uk/NSM).'

For further information, please contact:

Enquiries

Aztec Financial Services (Guernsey) Limited Chris Copperwaite Laura Dunning	[phone]
InfraRed Capital Partners Limited Richard Crawford Phil George	[phone]
Maitland/AMO James Isola Zara de Belder	[phone]
Investec Bank Plc Lucy Lewis Denis Flanagan	[phone]
Liberum Capital Limited Chris Clarke Gillian Martin	[phone]

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Cancellation of Scrip Dividend Alternative - RNS