Greencoat UK Wind extends IMA with Greencoat Capital

by | Jun 13, 2022

Renewable energy infrastructure investor Greencoat UK Wind said on Monday that it has revised and extended its investment management agreement with Greencoat Capital.

Greencoat UK Wind stated an additional tier had been added to the cash fee structure of the pair’s agreement, which will see a reduction in the fee charged in respect of net asset value over £3.0bn to an amount equal to 0.7%, paid in quarterly installments and applied retrospectively.

The FTSE 250-listed firm also said it had struck a refreshed initial term of four years from 1 April, subject to a reduction to one year’s notice if the shares trade below NAV for six months or more, on average, during the initial term.

Greencoat UK also noted the amendments included a revision to the change of control clause to limit the remaining term for these purposes to a maximum of two years.

Greencoat Capital has been the investment manager for UKW since its initial public offering in 2013. During that period, UKW has delivered a total return to shareholders of approximately 150% including 59.7p per share in dividends.

As of 0850 BST, Greencoat shares were down 0.70%% at 154.22p.

Reporting by Iain Gilbert at Sharecast.com

Related articles

Ryanair passenger numbers jump 9% in December

Ryanair passenger numbers jump 9% in December

(Sharecast News) - Budget airline Ryanair reported a 9% jump in December passenger numbers on Wednesday. Traffic rose to 12.54 million from 11.52m in the same month a year earlier, while the load factor - which gauges how full the planes are - ticked down to 91% from...

Wizz Are passenger numbers soar in December

Wizz Are passenger numbers soar in December

(Sharecast News) - Hungary-based budget airline Wizz Air reported a strong rise in December passenger numbers as demand continued to rebound from the Covid pandemic. The company on Wednesday said it carried 4,964,857 passengers, an 18.8% increase year on year. For the...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x