(Correcting 12-month price change for ThomasLloyd Energy Impact Trust PLC shares.)

(Alliance News) - ThomasLloyd Energy Impact Trust PLC expressed extreme disappointment that some shareholders have requisitioned a general meeting.

The London-based renewable energy investment trust said certain entities and funds which hold shares in the company, and are affiliated to ThomasLloyd Global Asset Management (Americas) LLC, have called the meeting.

They have proposed a resolution that the company should continue in its present form alongside special resolutions regarding the authority to make market purchases of its own shares and the notice period for general meetings.

The company said it was "extremely disappointed" that the meeting had been requisitioned, before the information necessary to make an informed decision on the company's financial position and prospects was available.

This information includes the finalised portfolio valuation and annual report and accounts for the year ended December 31, as well as the completion of an investigation into the circumstances around the Rewa Ultra Mega Solar Park project. All of these are required to complete the audit, and thereby lift the suspension of trading in the company's shares.

The firm said it has expended significant time on this work, but the requisition is expected to delay matters further, including the lifting of the suspension.

The company pointed out that the requisition is against the backdrop of continuing uncertainty regarding the portfolio valuation, which could reflect a potentially material downward movement relative to the September 30, 2022 valuation.

"The board reminds shareholders that whether the continuation resolution passes or fails will not expedite the finalisation of the audit nor cause the suspension to be lifted," it said in a statement.

In the event that the continuation resolution is not passed, the board said it will work out how best to take the company and its assets forward.

"The board would be able to consider a wide range of options including the reconstruction, reorganisation or potentially the winding up of the company," it said.

Shares in the company are currently suspended from trading, last quoted at 84.00 pence each. Over the past 12 months, the stock is down around 5.6%.

Shares in the company have been suspended since April. The company said this was due to the "material uncertainty" that prevented it from publishing yearly accounts.

By Jeremy Cutler, Alliance News reporter

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