Last checked at 4 Mar 2024 07:00
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN ANY JURISDICTION OR A SOLICITATION OF ANY VOTE OR APPROVAL.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
Bridgepoint Group plc
("Bridgepoint" or the "Company")
Update on Transaction Timetable
Further to Bridgepoint's announcement on 6 September 2023 regarding the agreement to add Energy Capital Partners Holdings, LP and its affiliated entities to the platform (the "Transaction") (and additional announcements on 2 October 2023 and 20 October 2023), Bridgepoint confirms that all relevant regulatory clearances have now been received for the Transaction, save for a clearance applied for by ECP ControlCo, LLC from the Federal Energy Regulatory Commission ("FERC").
On 1 March, FERC issued an order where it did not grant the authorisation sought on the basis that insufficient information had been provided with respect to proposed voting restrictions agreed to by one of Bridgepoint's minority shareholders to limit their indirect control over certain FERC regulated entities. The FERC order expressly provides that it is without prejudice to ECP ControlCo, LLC's ability to submit a new filing providing additional information addressing the points raised, and it is intended that such an application will be made in the coming days. To simplify the process for the new application, Bridgepoint is also working with the relevant shareholder to address the points raised in the FERC order. Any arrangements entered into by such shareholder will not have any impact on the underlying terms of the Transaction.
However, as a result of the requirement to re-file the FERC application, Bridgepoint now expects Closing to occur during the second quarter of 2024.
Capitalised terms not otherwise defined in this announcement have the meaning given to them in the circular published on 2 October 2023.
ENQUIRIES:
Bridgepoint
Analysts and investors Adam Key adam.key@bridgepoint.eu +44 7833 748010 | Media Christian Jones / James Murray christian.jones@bridgepoint.eu james.murray@bridgepoint.eu +44 20 7034 3500 |
FGS Global (Public Relations Adviser to Bridgepoint)
Charles O'Brien / +44 20 7251 3801 / +44 7825 043 656
Anjali Unnikrishnan / +44 20 7251 3801 / +44 7826 534 233
bridgepoint@fgsglobal.com
Legal Entity Identifier (LEI): 213800KFNMVI8PDZX472