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Dublin-based Greencoat Renewables PLC on Friday said it has renewed its investment management agreement with Greencoat Capital LLP by five years from July 25.
The investor in euro-denominated renewable energy infrastructure assets added that some changes have made to the pact. Fees charged in respect of net asset value over €1.75 billion have been reduced to 0.75%.
All other material terms remain in line with the previous investment management agreement.
Greencoat Capital has been Greencoat Renewables' investment manager since it's initial public offering in 2017. ‘During this period, Greencoat Renewables has delivered a strong total return to shareholder of 46.23% including 28.70 cent per share in dividends,’ Greencoat Renewables said.
Shares in Greencoat Renewables were up 1.3% to €1.14 each in London on Friday morning.
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