Business
First Day of Trading
First Day of Trading.
About this update from Aquila European Renewables Plc Registered
[{"type":"text","content":"\n \nRNS Number : 1388B Aquila European Renewables Income 05 June 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT. \n \nAquila European Renewables Income Fund PLC\nFirst Day Trading\n€154.3 million IPO, admission to trading and PDMR shareholdings\n5 June 2019\nFurther to its announcement on 31 May 2019 that it has raised €154.3 million in its initial public offering (\"IPO\"), Aquila European Renewables Income Fund PLC (the \"Company\"), a newly incorporated investment company investing in a diversified portfolio of Renewable Energy Infrastructure Investments, today announced its first day of trading on the Main Market of the London Stock Exchange.\nImmediately following Admission, the issued share capital of the Company will be 154,304,752 Ordinary Shares.\nImmediately following Admission, the beneficial interests of Directors in the issued share capital of the Company will be as follows:\n\n\n\nDirector\n\n\nNumber of ordinary shares under placing/offer for subscription\n\n\n% of issued share capital\n\n\n\n\nIan Nolan\n\n\n100,000\n\n\n0.06%\n\n\n\n\nDavid MacLellan\n\n\n75,000\n\n\n0.05%\n\n\n\n\nKenneth MacRitchie\n\n\n50,000\n\n\n0.03%\n\n\n\n\nPatricia Rodrigues\n\n\n50,000\n\n\n0.03%\n\n\n\n\n\n\n\n\n\nDuring the first two years of its appointment, the Investment Adviser has undertaken to apply its fee (net of any applicable tax) in subscribing for, or acquiring, Ordinary Shares. If the Ordinary Shares are trading at a premium to the prevailing NAV, the Company will issue new Ordinary Shares to the Investment Adviser. If, however, the Ordinary Shares are trading at a discount to the prevailing NAV at the relevant time, no new Ordinary Shares will be issued by the Company and instead the Company will instruct its broker to acquire Ordinary Shares to the value of fees due in the relevant period. The Investment Adviser has committed not to sell any Ordinary Shares acquired for a period of two years post the date of acquisition of the relevant Ordinary Shares.\nIan Nolan, Non-Executive Chairman, of the Company said:\n\"On behalf of the Board of the Company we are excited to be launching this new proposition on th...