CHP deferred consideration update
Updated : 11:10
14 October 2024
Triple Point Energy Transition plc
("TENT" or the "Company" and together with its subsidiaries, the "Group")
CHP deferred consideration update
On 24 June 2024 Triple Point Energy Transition plc (ticker: TENT) announced the disposal of the CHP Portfolio, comprising loans to Harvest, Glasshouse and Spark Steam, through a refinancing by P3P Partners LLP amounting to, in aggregate, £17.5 million. The disposal comprised an immediate payment of £14.5 million received in June 2024, together with three subsequent payments of £1 million, due to be received on 30 September 2024, 30 June 2025 and 30 September 2026, under a promissory note agreement.
As announced on the 4 October 2024, the first instalment of £1 million due on 30 September 2024, was only partially paid. The Group has now received the remaining amounts due in respect of the 30 September 2024 payment, in full including penalty interest.
For further information, please contact:
Triple Point Investment Management LLP Jonathan Hick Christophe Arnoult Chloe Smith
| +44 (0) 20 7201 8989 |
J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum
| +44 (0) 20 3493 8000 |
Akur Limited (Financial Adviser) Tom Frost Siobhan Sergeant
| +44 (0) 20 7493 3631 |
LEI: 213800UDP142E67X9X28
Further information on the Company can be found on its website: http://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 and on 6 September 2024 declared a special dividend to return capital to shareholders. Details of future divestments or returns of capital are expected to be announced via a Regulatory Information Service in due course.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.