18 January 2019
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.
GREENCOAT UK WIND PLC
(the "Company")
Net Asset Value, Dividend and Notice of Annual Results Announcement
Net Asset Value / Net Asset Value per share |
£1,392.8 million / 123.1 pence |
Dividend / Dividend per share |
£19.1 million / 1.69 pence |
The Company announces that its unaudited Net Asset Value as of 31 December 2018 is £1,392.8 million (123.1p per share). This represents an increase of 8.1p per share for Q4 2018 (in addition to 1.69p dividends paid), 6.7p of which is attributable to amending the assumed asset life from 25 to 30 years on a conservative basis, following a third party technical assessment of the portfolio.
During the quarter, generation was on budget and power prices were above budget. Generation for the full year was 6% below budget due to low wind resource but cash generation was on budget owing to higher power prices.
The Company's December 2018 Factsheet is available on the Company's website, www.greencoat-ukwind.com.
The Company also announces a quarterly interim dividend of 1.69p per share with respect to the quarter ended 31 December 2018 and an increase in the target dividend for 2019 to 6.94p per share, increased in line with the Retail Prices Index for December 2018.
Dividend Timetable
Ex-dividend date 31 January 2019
Record date 1 February 2019
Payment date 28 February 2019
The Company advises that it will release its annual results for the period to 31 December 2018 on Thursday 28 February 2019.
Notes to Editors:
Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in 32 operating UK wind farms with net generating capacity of 836MW. The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation (6.94p for 2019) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow and the prudent use of portfolio gearing.
UKW is managed by an experienced team at Greencoat Capital LLP, a leading European renewable investment manager with over £3 billion of assets under management across a number of funds in wind and solar infrastructure, and is overseen by a strong and experienced independent board.
UKW is incorporated in England and Wales and is a UK Investment Trust.
For more information about UKW, please visit http://www.greencoat-ukwind.com.
For more information about Greencoat Capital LLP, please visit http://www.greencoat-capital.com
For further information, please contact:
Greencoat UK Wind PLC 020 7832 9400
Stephen Lilley
Laurence Fumagalli
Tom Rayner
Estera Administration (UK) Limited Company Secretary
Cheryl Surgeoner 028 9078 5868
Disclaimer
This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, New Zealand, South Africa or Japan. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement does not contain or constitute an offer for sale of, or the solicitation of an offer or an invitation to buy or subscribe for, Ordinary Shares to any person in the United States, Australia, Canada, New Zealand, South Africa or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
The Company will not be registered under the US Investment Company Act of 1940, as amended. In addition, the Ordinary Shares referred to herein have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act") or under the securities laws of any state of the United States and may not be offered or sold in the United States or to or for the account or benefit of US persons absent registration or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable State securities laws. The offer and sale of Ordinary Shares referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of any state, province or territory of Australia, Canada, New Zealand, South Africa or Japan. Subject to certain exceptions, the Ordinary Shares referred to herein may not be offered or sold in Australia, Canada, New Zealand, South Africa or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, New Zealand, South Africa or Japan. There will be no public offer of the Ordinary Shares in the United States, Australia, Canada, New Zealand, South Africa or Japan.
