- Board proposes orderly return of assets
- Share price rises on announcement
- Offer received for sale of debt facility
The board of Triple Point Energy Transition (TENT) has decided on an orderly return of assets and associated capital to shareholders following a third-party review into the company’s strategic direction. Notice of a general meeting to revise the investment policy and facilitate this action is expected to be posted in Q1 2024.
Reflecting the value in the underlying portfolio, which exceeded its NAV target return in the most recent full year results to 31 March 2023 (and delivered a 1.1x covered dividend yield), the share price has risen more than 16 per cent on news, and is up roughly 20 per cent since Simon Thompson initiated coverage of the company.