ThomasLloyd Energy Impact Trust, a London-listed renewable energy investment trust, has reached a pivotal moment as its shareholders have voted against the continuation of the company. The board, aligning with this recommendation, will now embark on a comprehensive review of the group's future.
During a requisitioned general meeting and an adjourned annual general meeting, approximately 58% of votes were cast against the continuation resolution. The management had unanimously advised shareholders to vote against this resolution late in July. They believed there were significant unanswered questions regarding the valuation of investments and the investment manager's approach.
With the resolution failing to pass, the board is now obligated to present proposals for the company's future within four months. As a result, an immediate review has commenced, which includes soliciting proposals for a potential relaunch.
Chair Sue Inglis commented, "Alongside the efforts to resolve the share trading suspension, the board will also engage in developing proposals for the company's future. We are committed to consulting and updating shareholders throughout this process."
The company's shares have been suspended since April 25 at its own request due to material uncertainty surrounding the valuation of the RUMS solar project in India.
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