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SDCL Efficiency Income Trust PLC - FTSE 250 constituent formed in 2018 to invest in energy efficiency and distributed energy assets - Decides to declare no fourth interim dividend for the financial year that ended March 31, saying the board wants to preserve value and reduce debt amid a proposed wind-down of the trust. The trust also said it received less cash inflow in the second half of the year, mainly due to lower receipts from its Onyx asset. SDCL Efficiency Income calls a general meeting for July 10 to approve the wind-down as the company’s new investment objective. Net proceeds from asset sales will be used first to repay borrowings and then to return cash to shareholders, SDCL Efficiency Income says. Gearing increased to 71.9% as of September 30 last year, above the 65% limit allowed by the company’s existing investment policy. ‘Notwithstanding the performance of the underlying portfolio, in recent years the company has faced a number of significant and persistent challenges which have negatively affected its future prospects,’ it says in explaining the wind-down plan. ‘In particular, the company’s ordinary shares have traded at a material and sustained discount to NAV, restricting access to equity capital and constraining the company’s ability to fund portfolio commitments. The board is of the view that there have been no signs that this discount is capable of significantly narrowing in the near term.’ SDCL Efficiency Income says it will aim to sell its entire portfolio, preferring a single buyer or a small number of buyers. Current stock price: 35.64 pence, down 23% in London early Tuesday and compared to 87.6p net asset value per share as of September 30 12-month change: down 30% Copyright 2026 Alliance News Ltd. All Rights Reserved.
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