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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: 24/01/2018

Update 12/03/2019 Press Release

Director's Recommended Share Price

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

We evaluate the DRSP when material events occur. On 15 February, two wind farms were sold, providing evidence of an increase in the value of our operational assets, leading to an increase in the DRSP 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 to approve the payment of a 40p per share interim dividend, the revised DRSP 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. The Thrive Renewables Annual General Meeting (AGM) will be held as usual in June. Invitations and information on proposed annual dividends will be sent to shareholders in May.

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. Under the Buy-Back policy, the Company undertakes to purchase shares from eligible shareholders at a 10% discount to the Director’s Recommended Share Price, 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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