In a stock exchange notice on Monday (22 January), the trust said its net asset value at December 2022 stood at 49.3 cents ($), while the 30 June 2023 NAV was 51.2 cents.
In a stock exchange notice on Monday (22 January), the trust said its net asset value at December 2022 stood at 49.3 cents ($), while the 30 June 2023 NAV was 51.2 cents. Since IPO, the NAV per share has dropped 52.2%, from 98 cents to 46.8 cents.
The decline reflects a substantial write down in portfolio valuation, primarily associated with the RUMS solar park construction project in India, as well as updated generation and revenue forecasts, revised operating cost and tax assumptions, and higher discount rates.
AEIT's shares have been suspended since 25 April due to uncertainty over the valuation of its RUMS project, in which 8% of the portfolio was invested at the time, which prevented the audit of the 2022 accounts.
Board of former ThomasLloyd Energy Impact expects delayed reports before year-end
Nearly nine months later, the results detail a timeline and summary of key events, painting a picture of the trust's challenges over the past 12 months.
This included the breakdown of the relationship with former manager ThomasLloyd Global Asset Management, after several requisitioned general meetings and the appointment of a new transitional manager in November.
In today's announcement, chair Sue Inglis thanked shareholders for their patience over the last year, adding «it would be disingenuous to say the period since IPO has not been without disappointment and challenges».
«However, the board is encouraged by the company's progress following Octopus Energy Generation's appointment last November and we firmly believe in the investment opportunity to
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