28 March 2024
Triple Point Energy Transition plc
("TENT", the "Company" or together with its subsidiaries, the "Group")
Completion of Asset Sale
Triple Point Energy Transition plc (ticker: TENT), is pleased to announce that the sale of an LED Facility described in the Circular sent on 5 March 2024, and approved by Shareholders on 22 March 2024, has completed.
The sale has been transacted with TP Leasing Limited ("TPLL"), a member of the group of the Company's investment manager Triple Point Investment Management LLP and will result in a return of £2.1m to the Company, representing the outstanding loan balance.
Background
In September 2023, the Group, via TENT Holdings Limited, provided a £2.3 million receivables financing facility to Boxed Light Services Limited ("Boxed") (the "LED Facility"). Boxed installs efficient LED lights and controls at Places for People Homes Limited sites, part of the Places for People group, one of the UK's leading social enterprises.
John Roberts, the Company's Chair commented:
"We are delighted with this strong start to TENT's orderly realisation process, which was approved by shareholders on Friday 22 March 2024. The completion of this sale reduces the number of investments within the Group's portfolio from 19 to 18 investments. We will continue to update the market on the orderly realisation process and on our plans for returning capital to shareholders."
For further information, please contact:
| Triple Point Investment Management LLP Jonathan Hick Christophe Arnoult Chloé Smith
| +44 (0) 20 7201 8989 | |
| J.P. Morgan Cazenove (Corporate Broker and Sponsor) William Simmonds Jérémie Birnbaum
| +44 (0) 20 3493 8000 | |
| Akur Limited (Financial Adviser) Tom Frost Siobhan Sergeant
| +44 (0) 20 7493 3631 | |
| +44 (0) 20 7466 5111 |
LEI: 213800UDP142E67X9X28
Further information on the Company can be found on its website: www.tpenergytransition.com
NOTES:
The Company is an investment trust which was established to invest in assets that support the transition to a lower carbon, more efficient energy system and help the UK achieve Net Zero.
The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority. Triple Point manages private, institutional, and public capital, and has a proven track record of investment in energy transition and decentralised energy projects.
On 22 March 2024, shareholders approved the Company's proposed orderly realisation of assets. Details of future divestments or returns of capital are expected to be announced via a Regulatory Information Service in due course.
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