AEIP Asian Energy Impact Trust Plc

LEI: 254900VC23329JCBR9G82

22 April 2024

Asian Energy Impact Trust plc

(the "Company" or "AEIT")

Directorate Change

The Board of the Company has been informed by Kirstine Damkjaer that, following her appointment to a full-time position, she intends to step down from all her non-executive positions as soon as practicable. Consequently, she will step down from her directorship of the Company with effect from 30 April 2024.

As a result of the conclusion of the strategic review of the options for the Company's future and the announcement of a proposed realisation strategy for the Company, and cognisant of the need to minimise costs where possible, it is not currently anticipated that a replacement will be recruited.

There are no other details or disclosures required under LR 9.6.13R of the Financial Conduct Authority Listing Rules.

Sue Inglis, Chair of Asian Energy Impact Trust plc, said: "On behalf of the Board I would like to thank Kirstine for the key role she has played in our IPO and through recent, more challenging, times. We greatly appreciate her efforts as the Company navigated the events of a turbulent year and the support she provided to Board colleagues and we wish her well in her new role."

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About Asian Energy Impact Trust plc

Asian Energy Impact Trust plc ("AEIT" or the "Company", formerly ThomasLloyd Energy Impact Trust plc) is a closed‑ended investment company incorporated in England and Wales.

The Company's ordinary shares were admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the premium listing segment of the main market of the London Stock Exchange on 14 December 2021.

The Company has a triple return investment objective which consists of:

(i)      providing shareholders with attractive dividend growth and prospects for long-term capital appreciation (the financial return);

(ii)      protecting natural resources and the environment (the environmental return); and

(iii)     delivering economic and social progress, helping build resilient communities and supporting purposeful activity (the social return).

The Company has invested in a portfolio of unlisted sustainable solar energy infrastructure assets, with a geographic focus on fast‑growing and emerging economies in Asia.

With effect from 1 November 2023, the Company appointed Octopus Energy Generation as its transitional investment manager until 30 April 2024.

On 11 April 2024, the Board announced that, following a comprehensive strategic review of options for the Company's future, it had concluded that it is in the best interests of shareholders as a whole to put forward a proposal for the orderly realisation of AEIT's assets, to be effected in a manner that seeks to achieve a balance between maximising the value of its investments and progressively returning cash to shareholders in a timely manner (the "Proposal"). The Proposal, on which further details will be provided in due course, will be subject to shareholder approval at a general meeting, which is expected to be held in Q2 2024.  The Board expects that, subject to shareholders approving the Proposal, Octopus Energy Generation, the Company's transitional investment manager, will be appointed to continue to manage AEIT's investments and their orderly realisation.

About Octopus Energy Generation

Octopus Energy Generation is driving the renewable energy agenda by building green power for the future. Its London-based, leading specialist renewable energy fund management team invests in renewable energy assets and broader projects helping the energy transition, across operational, construction and development stages. The team was set up in 2010 based on the belief that investors can play a vital role in accelerating the shift to a future powered by renewable energy. It has a 13-year track record with approximately £6 billion of assets under management (AUM) (as of September 2023) across 16 countries and total 3.2GW. These renewable projects generate enough green energy to power 2.3 million homes every year, the equivalent of taking over 1.2 million petrol cars off the road. Octopus Energy Generation is the trading name of Octopus Renewables Limited.  

Further details can be found at  www.octopusenergygeneration.com