The Renewables Infrastructure Group (TRIG) has announced a conditional offer for subscription of new ordinary shares of nil par value each in the company.
The company is also proposing to issue new ordinary shares by way of a non-pre-emptive tap issue. The shares will be subject to a strike price of no less than £1.30 ($1.70) per share. TRIG said the company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the PrimaryBid offer.
Dealings in the new ordinary shares on the main market will commence March 28. The PrimaryBid offer may close early if it is oversubscribed.
The company will use the funds raised to repay amounts drawn under its revolving credit facility and to meet near-term funding requirements.