SDCL Energy Efficiency Income Trust PLC - invests in energy efficiency sector, such as electric vehicle charging infrastructure and geothermal and biogas projects, with assets in the UK, Spain, Sweden and the US - Investment manager Sustainable Development Capital LLP buys 1.0 million shares at 62 pence each, worth GBP620,000. Trust does not provide the purchase date. The 1.0 million shares are the investment manager's only holding and represent a 0.1% stake.
"Our purchase of SEEIT shares in the market underscores our confidence in the value of the company's large, unique and diversified portfolio of over GBP1 billion of energy efficiency projects," Sustainable Development Capital's Chief Executive Officer Jonathan Maxwell says. "As investment manager, we believe that the shares represent exceptional value given the high dividend yield, covered by cash flow, and a substantial discount to net asset value."
Current stock price: 62.70 pence, up 2.6% in London on Friday
12-month change: down 37%
By Tom Waite, Alliance News editor
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Sdcl Energy Ef. (SEIT)