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Greencoat UK Wind - Update

RNS Number : 8901G
Greencoat UK Wind PLC
20 March 2020
 

20 March 2020

Greencoat UK Wind plc

(the "Company")

UPDATE

 

The health of the Company's shareholders and Board is of the utmost importance and given the UK Government's advice on social distancing, travel and measures to prohibit public gatherings in order to minimise the spread of COVID-19, the Company has decided to change the location of its Annual General Meeting ("AGM") on 30 April 2020. Specific details will be announced in due course.

Only the formal business set out in the Notice of Meeting will be considered at the AGM. Shareholders wishing to vote on any of the matters of business are encouraged to do so through completion of a proxy form which can be completed and submitted to the Company no later than 2.00 p.m. on 28 April 2020.

Portfolio generation to date in 2020 has been strong and is approximately 20% ahead of budget (over 30% of the 2020 generation budget has already been produced) and forward power prices for the remainder of 2020 are relatively stable. The Company's target dividend of 7.1 pence per share is expected to be well covered.

The Company's overall borrowings are equivalent to 25 per cent of GAV, in the middle of its medium term guidance of between 20 and 30 per cent of GAV, all of which sits at Company level.

For further information, please contact:

Greencoat UK Wind PLC                               020 7832 9425

Stephen Lilley

Laurence Fumagalli

Tom Rayner

 

Ocorian - Company Secretary                         028 9693 0210

Cheryl Surgeoner

 

Headland Consultancy                                  020 3805 4822

Stephen Malthouse

Rob Walker

Charlie Twigg

 

Notes to Editors:

Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in 36 operating UK wind farms with net generating capacity of 998MW. The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation (7.10p for 2020) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow and the prudent use of gearing. 

UKW provides investors with the opportunity to participate directly in the ownership of UK wind farms, so increasing the resources and capital dedicated to the deployment of renewable energy and the reduction of greenhouse gas emissions.

UKW is managed by an experienced team at Greencoat Capital LLP, a leading European renewable investment manager with approximately £5 billion of assets under management. UKW is governed by a strong and experienced independent board.

UKW is incorporated in England and Wales and is a UK Investment Trust.

For more information about UKW, please visit http://www.greencoat-ukwind.com

For more information about Greencoat Capital LLP, please visit http://www.greencoat-capital.com

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Greencoat UK Wind PLC

Price: 139.2

Market: LSE
Market Cap: £2.11 billion
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