14 December 2020
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ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC
OFFER UPDATE - AMENDED TIMETABLE AND PUBLICATION OF SUPPLEMENTARY PROSPECTUS
Further to the announcement made on 10 December 2020, the Board of Directors of Ecofin U.S. Renewables Infrastructure Trust PLC ("RNEW" or the "Company") is pleased to confirm the amended expected timetable for its proposed initial public offering ("IPO") on the London Stock Exchange's Main Market, by way of an Initial Placing and Offer for Subscription (the "Initial Issue").
The Company continues to be encouraged by the response to the proposition from a broad range of institutional investors and private wealth managers, as well as continued support from Ecofin and the Capricorn Investor who have each indicated an intention to invest increased amounts in the Initial Issue in addition to their original subscriptions as described in the Prospectus dated 11 November 2020.
A supplementary prospectus (the "Supplementary Prospectus") has today been published by the Company providing further details, including reduced Minimum Gross Initial Proceeds for the IPO of $125 million.
AMENDED EXPECTED INITIAL ISSUE TIMETABLE:
| Latest time and date for receipt of completed Application Forms under the Offer for Subscription and payment in full or settlement of the relevant CREST instruction |
1.00 p.m. on 17 December 2020 |
| Latest time and date for receipt of placing commitments under the Initial Placing |
3.00 p.m. on 17 December 2020 |
| Results of the Initial Issue announced |
18 December 2020 |
| Initial Admission and dealings commence |
8.00 a.m. on 22 December 2020 |
| Crediting of CREST stock accounts in respect of the Ordinary Shares issued in uncertificated form |
as soon as practicable after 8.00 a.m. on 22 December 2020 |
| Share certificates despatched |
within 10 Business Days of Admission |
As a result of the amended timetable, the Relevant Sterling Exchange Rate will be set at 5:00 p.m. on Thursday 17 December 2020 (or such other date or time as the Company may determine and notify to investors via a Regulatory Information Service announcement). Applicants under the Offer for Subscription choosing to settle via CREST (i.e. by delivery versus payment), will need to match their instructions to the Receiving Agent's participant account 3RA07 by no later than 1.00 p.m. on 21 December 2020.
Further details of the Initial Issue are set out in the Prospectus which, together with the Supplementary Prospectus, is available on the Company's website at https://ecofininvest.com/rnew. A copy of the Supplementary Prospectus will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Unless the context otherwise requires, capitalised terms used in this announcement have the meanings given to them in the Prospectus.
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Further information on the Company can be found on its website at https://ecofininvest.com/rnew.
The Company's LEI is 2138004JUQUL9VKQWD21.
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