The ThomasLloyd Energy Impact (TLEI) trust has concluded that proceeding with the construction of the RUMS project may now be the “less value destructive” option for shareholders, resulting in a proposed investment policy change.
In a regulatory notice today (11 October), the TLEI board said aborting the project would crystallise an immediate write off of $8.9m of costs incurred and result in the encashment of $1.2m of performance bank guarantees. This option would also potentially indirectly expose SolarArise, a Delhi-based renewable energy platform owned by ThomasLloyd, to abandonment penalties of up to $32.2m and likely protracted associated litigation. ThomasLloyd Energy Impact shares temporarily suspended over fair value 'uncertainty' Having taken advice and explored the various possible outcomes of ...
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