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Sigma Lithium is set to become one of the world's largest hard rock lithium producers
Sigma Lithium is set to become one of the world's largest hard rock lithium producersView Video

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IN BRIEF: SDCL Energy Efficiency raises GBP250 million by share issue

Fri, 17th Sep 2021 16:05

SDCL Energy Efficiency Income Trust PLC - investment company - Due to company's acquisition pipeline, will increase target size of open offer, placing, subscription and intermediaries offer to GBP250 million from GBP175 million.

Initial issue will consist of 226.2 million shares at a price of 110.5 pence each. Gross proceeds will go towards SDCL's acquisition pipeline.

"We are extremely grateful to all existing and new shareholders for the strong support they have shown. This is our largest placing to date and our first to include an intermediaries offer. The issue was once again significantly over-subscribed, reflecting the strength of opportunity in the energy efficiency sector and the confidence of our shareholders in our ability to deliver. Given the depth and quality of our near-term investment pipeline, a significant portion of which is made up of organic investment opportunities which are either committed, have a right of first refusal, or are in exclusivity, the board has chosen to increase the target capital raise to GBP250 million, from GBP175 million," says Chair Tony Roper.

Current stock price: 113.06 pence

Year-to-date change: up 7.1%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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