Affiliates of ThomasLloyd Energy Impact investment manager call for continuation vote
TLEI’s shares have been suspended since 25 April due to uncertainty over the valuation of its Indian construction project.
In a stock exchange notice today (13 July), the board said TLEI had received a requisition notice for a general meeting from «certain entities and funds» that are shareholders of the trust and affiliates of the investment manager.
The notice proposes the three resolutions that were not voted on at the AGM in June. These include the continuation vote (ordinary resolution), as well as special resolutions regarding share buyback authority and notice periods for general meetings.
Thomas Lloyd Energy Impact trust fails to provide timeline for publication of results
The AGM was adjourned prior to the continuation vote as the board believed shareholders did not have sufficient information to make an informed decision on the trust's financial position and prospects.
The notice follows yesterday's (12 July) announcement, which revealed further portfolio valuation write-downs were expected and that the board was unable to provide a timeline for the publication of the trust's annual report.
TLEI's shares have been suspended since 25 April due to uncertainty over the valuation of its Indian construction project, which it has since walked away from. This suspension will only be lifted once the audited results have been published.
Chair Sue Inglis said: «The board has continued to work very hard to progress the workstreams necessary to lift the suspension but still does not have from the investment manager any explanation of who within the investment manager knew what and when regarding the financial viability of the RUMS Project.
»In addition, the board has been independently advised that there remains
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