Interactive Investor

Downing Renewables & Infrastructure Trust plc Share Offer

This offer is now closed for applications through interactive investor

Result of Equity Raise

  • The Issue Price has been set at 111 pence per new Ordinary Share.

  • Downing Renewables & Infrastructure Trust plc (DORE) has successfully raised gross proceeds of £52.9 million, through its Initial Placing, Open Offer, Offer for Subscription and Intermediaries Offer.

  • Applications will be made for 47,614,000 new Ordinary Shares to be admitted to trading on the London Stock Exchange's main market.

  • Allocations have been met in full, meaning customers will receive 100% of the amount they applied for rounded down to the nearest whole share.

  • Share allocations and uninvested cash are being credited today (Thursday 23 June 2022). Confirmation of allocations will be sent once the shares and refunds are showing on accounts.

  • Please note the allocation policy was set by DORE and not Interactive Investor.

Offer period

  • The Offer Period for the Downing Renewables & Infrastructure Trust plc Share Offer closed at 11am on Tuesday 21 June 2022.

Trading starts

  • Admission and unconditional dealing in the new Ordinary Shares is expected to commence at 8am on Monday 27 June 2022. There is no conditional dealing period.
  • When admitted to trading, the new Ordinary Shares will be registered with SEDOL (Stock Exchange Daily Official List) number BLF7PP2 and trade under the symbol "DORE".
  • If you buy or sell Downing Renewables & Infrastructure Trust plc Shares after admission the relevant share dealing rate will apply.

Hugh Little, Chair of DORE, commented:

"We are delighted to have exceeded our target and raised c.£52.9 million, particularly given the challenging capital markets backdrop. These proceeds will be used to repay the revolving credit facility and to invest in an attractive pipeline of near term opportunities, which are intended to further diversify our portfolio. This fundraise represents c.35% of the Company's Ordinary Share capital immediately prior to the Initial Issue and as a result, our market cap will exceed £200 million. We would like to thank our shareholders, both existing and new, for their support and look forward to updating on progress in the coming months as we seek to deliver further value for them."

Key information

Issue price per share:111 pence
Minimum investment:£1,110 (multiples of £1 thereafter)
Stock ticker:DORE

Expected timetable

Offer open:7 June 2022
Offer close:21 June 2022 (11am)
Result announced:23 June 2022
Unconditional dealing starts:27 June 2022 (8am)

This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited. This website is an advertisement and not a Prospectus. Any application to participate in the Intermediaries Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.

Interactive Investor Services Limited uses the Downing Renewables & Infrastructure Trust plc Prospectus in accordance with the Company's consent and the conditions set out in the Downing Renewables & Infrastructure Trust plc Prospectus.

Investing in IPOs carries a high degree of risk. If you are unsure of the suitability of an investment please seek Financial Advice. You are not guaranteed to make a profit, the value of your investments can go down as well as up. You may not get back all the money you invest. Any notification of an IPO on our website is not an endorsement of the issue, nor is it solicitation for interest in the issue. Investment in the Company should not be regarded as short-term in nature. You should consider carefully all of the information set out in the Offer documents, including all the risks attached to investing in the Company before you apply.

"Downing Renewables & Infrastructure Trust plc" and the Downing Renewables & Infrastructure Trust plc logo are reproduced by kind permission of Downing Renewables & Infrastructure Trust plc. All rights reserved.

This announcement has been published by Interactive Investor Services Limited.

This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of 201 Deansgate, Manchester, M3 3NW, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.