Result of the Issue
- The Issue Price was set at 110.5 pence per new Ordinary Share
- SDCL Energy Efficiency Income Trust plc (SEIT) has successfully raised gross proceeds of £250 million.
- Applications have been made to the London Stock Exchange for 226,244,343 Ordinary Shares to be admitted to trading on the London Stock Exchange's main market.
- Demand exceeded both the target issue size and the maximum issue size and some applications have been scaled back.
- We have allocated shares in line with the allocation received from SEIT.
- Applications between £1,000 to £50,000 have been allocated in full, applications between £50,001 to £100,0000 have been capped at a maximum allocation of £50,000 and applications above £100,000 have been capped at £68,189.55.
- Share allocations and uninvested cash are being credited today (Friday 17 September 2021). Confirmation of allocations will be sent once the shares and refunds are showing on accounts
- Please note the allocation policy was set by SEIT and not Interactive Investor.
Offer period
- The Offer Period for the SDCL Energy Efficiency Income Trust plc Share Offer closed at 12pm on Thursday 16 September 2021.
Trading starts
- Admission and unconditional dealing in the new Ordinary Shares is expected to commence at 8am on Tuesday 21 September 2021. 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 BGHVZM4 and trade under the symbol "SEIT".
- If you buy or sell SDCL Energy Efficiency Income Trust plc Shares after admission the relevant share dealing rate will apply.
Tony Roper, Chairman of SDCL Energy Efficiency Income Trust plc commented:
"We are extremely grateful to all existing and new shareholders for the strong support they have shown. This is our largest placing to date and our first to include an intermediaries offer. The issue was once again significantly over-subscribed, reflecting the strength of opportunity in the energy efficiency sector and the confidence of our shareholders in our ability to deliver. Given the depth and quality of our near-term investment pipeline, a significant portion of which is made up of organic investment opportunities which are either committed, have a right of first refusal, or are in exclusivity, the Board has chosen to increase the target capital raise to £250 million, from £175 million.
The Investment Manager has identified a broad pipeline of exciting opportunities for investment, and we are confident that the proceeds of this raise will be invested in a timely and efficient manner into existing assets and new investments that further diversify and complement the Company's portfolio.
This is a critical time for the energy efficiency sector, with the urgent need to tackle the climate crisis, in which it will play a key role by providing new opportunities to invest in cleaner, cheaper and more reliable energy."
Key information
| Issue price per share: | 110.5 pence |
| Minimum investment: | £1,000 (multiples of £1 thereafter) |
| Stock ticker: | SEIT |
| SEDOL: | BGHVZM4 |
Expected timetable
| Offer open: | 2 September 2021 |
| Offer close: | 16 September 2021 (12pm) |
| Result announced: | 17 September 2021 |
| Unconditional dealing starts: | 21 September 2021 (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 Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto. It should be remembered that the price of the shares can go down as well as up and that investors may not receive, on the sale or cancellation of the shares, the amount that they invested. If you are in any doubt about the contents of this document or the Prospectus, you should consult your accountant, legal or professional adviser or financial adviser.
Interactive Investor Services Limited uses the SDCL Energy Efficiency Income Trust plc Prospectus in accordance with the Company's consent and the conditions set out in the SDCL Energy Efficiency Income 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.
"SDCL Energy Efficiency Income Trust plc" and the SDCL Energy Efficiency Income Trust plc logo are registered trademarks of SDCL Energy Efficiency Income Trust plc. Reproduced by kind permission of SDCL Energy Efficiency Income Trust plc. All rights reserved.
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