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Thrive Renewables plc (formerly Triodos Renewables plc)

Ordinary Shares

SECONDARY MARKET

Open share offers are subject to changes and updates as the project progresses.

Check back with this tab to find the latest project update.

Latest update: 12/03/2019

Update 12/03/2019

Director's Valuation Per Share

The directors of Thrive Renewables are proud of its diverse shareholder community, which reflects its mission to provide people with a rewarding connection to renewable energy. This gives Thrive a particular responsibility to provide all its shareholders with an indication of the value of the company – the Directors’ Valuation Per Share (DVPS). The DVPS represents today’s value of projected future dividends from Thrive's portfolio of operational assets and investments.

The directors evaluate the DVPS when material events occur. On 15 February 2019, two wind farms were sold, providing evidence of an increase in the value of our operational assets, leading to an increase in the DVPS to £2.65 per share. An interim dividend of 40p per share, representing 15% of the share price, was proposed, subject to approval by shareholders. An additional £11 million realised by the sale will be retained by the company to invest in more sustainable energy capacity for the UK.

Following a unanimous decision by shareholders at the General Meeting on 12 March 2019 to approve the payment of a 40p per share interim dividend, the revised DVPS will be £2.28. This takes account of the interim dividend payment, but also reflects positive developments including securing improved electricity prices at a number of renewable energy sites and the company’s performance in 2018.

The interim dividend payments will be made to shareholders in two equal instalments of 20p on 3 and 17 April 2019. The Thrive Renewables Annual General Meeting (AGM) will be held as usual in June 2019. Invitations and information on proposed annual dividends will be sent to shareholders in May 2019.

Update: 24/01/2018

Thrive Renewables Plc Share Buy-Back Policy

As part of the Directors ongoing commitment to providing share trading liquidity, Thrive have re-introduced a share Buy-Back Policy. Shareholders are eligible to benefit from the Buy-Back policy if they have been listed to sell their shares on the Matched Bargain Service for 12 months or more and have held their shares for more than 24 months. Under the Buy-Back policy, the Company undertakes to purchase shares from eligible shareholders at a 10% discount to the Director’s Valuation Per Share, subject to a number of conditions. The conditions include, shareholder approval at the AGM and the Company having adequate financial resources to fund the share Buy-Back. It is the Directors intention that the Buy-Back Policy will increase the liquidity of the secondary shares market and enable sellers to achieve a fair price for their shares. The Directors reserve the right to cease offering the Buy-Back at any time.

The full buy pack policy can be viewed here

 

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