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LONDON - Downing Renewables & Infrastructure Trust plc (DORE) shareholders have approved the recommended cash acquisition by Polar Nimrod Topco Limited, a vehicle wholly-owned by Bagnall Energy Limited, at meetings held Friday.
The acquisition, which is being implemented through a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act, received the necessary approvals at both the Court Meeting and General Meeting.
At the Court Meeting, 87.85% of Scheme Voting Shares voted were cast in favor of the resolution, representing 36.98% of all eligible Scheme Voting Shares. The resolution was supported by 97.37% of voting shareholders.
At the General Meeting, shareholders passed the Special Resolution to implement the scheme with 87.51% of votes cast in favor, representing 53.33% of the company’s issued ordinary share capital.
The total number of DORE shares in issue at the Voting Record Time was 184,622,487, with 14,498,223 held in treasury, resulting in 170,124,264 total voting rights. Scheme Voting Shares totaled 126,502,531, excluding shares held by Bagnall and certain individuals.
The acquisition remains subject to Court sanction at a hearing expected to occur within 21 days following satisfaction of remaining conditions outlined in the scheme document published July 10, 2025.
The transaction will result in Polar Nimrod Topco Limited acquiring the entire issued and to be issued ordinary share capital of DORE not already owned by the Bagnall Group.
This information is based on a press release statement from Downing Renewables & Infrastructure Trust plc.
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