TRIG plc

Capital recycling progress confirmed

  • Sectors : Renewable Infrastructure
  • Companies : TRIG plc

Ratings and price correct at time of issue.

  • TRIG plc

    Closing Price: 104p

  • RATING 09/05/23

  • PREVIOUS RATING N/A

DAVY VIEW

The disposal of a sizeable stake in Gode offshore wind farm (15.2% stake for a consideration of €100m) confirms TRIG’s progress towards its RCF borrowing reduction and other capital allocation targets. Further, the recycling of capital out of assets at a premium to net asset value (the consideration represents a 9% premium to Dec-2023 net asset value) to buy back its own stock (currently trading at a 17% discount to NAV) also represents strong management of capital. TRIG is scheduled to report its interim results on August 9th.

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Aug 1 2024, 07:53 IST/BST

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