Parvus Energy Efficiency Trust
INCOME RESULTING FROM TRUE ENERGY SAVINGS
Parvus Energy Efficiency Trust

INCOME RESULTING FROM TRUE ENERGY SAVINGS

THE COMPANY IS CURRENTLY IN A MANAGED RUN-OFF

See Notice of Annual General Meeting 2023 dated 02 May 2023

INVESTMENT OBJECTIVE

At a General Meeting held on 28 February 2023, Shareholders did not approve the Continuation Vote and on 14 June 2023 approved the combined Continuation Managed Run-Off Resolution. The new Investment Objective is set out below:

“The Company’s Investment Objective is to realise all existing assets at the best value which the Directors consider can be achieved within a reasonable timeframe.”

INVESTMENT POLICY

The Company will be managed with the intention of realising all remaining assets in the Portfolio in a prudent manner consistent with the principles of good investment management and with a view to returning cash to Shareholders in an orderly manner.

The Company will pursue its investment objective by effecting an orderly realisation of its assets in a manner that seeks to achieve the best balance for Shareholders between maximising the value received from those assets and making timely returns of capital to Shareholders. This process might include sales of individual assets, mainly structured as loans/receivables, or groups of assets, or running off the Portfolio in accordance with the existing terms of the assets, or a combination.

The Company will cease to make any new investments or to undertake capital expenditure except where, in the opinion of both the Board and the Investment Adviser (or, where relevant, the Investment Adviser’s successors):

  • the investment is a follow-on investment made in connection with an existing asset in order to comply with the Company’s pre-existing obligations; or
  • failure to make the follow-on investment may result in a breach of contract or applicable law or regulation

by the Company; or

  • the investment is considered necessary to protect or enhance the value of any existing investments or to facilitate orderly disposals,

and at all times such investments will only be made with appropriate shareholder protections in place.

Any cash received by the Company as part of the realisation process prior to its distribution to Shareholders will be held by the Company as cash on deposit and/or as cash equivalents.

The Company will not undertake new borrowing.

As required by the Listing Rules, any material change to the investment policy of the Company will be made only with the approval of Shareholders by way of ordinary resolution.

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Please read this notice carefully – it applies to all persons who view this website. Please note that the terms set out below may be altered or updated without notice. You should read the following provisions in full each time you visit the site. If you access the information on this website, you agree to be bound by the terms set out below. If you do not agree to the terms, please do not access this website. Viewing the materials you are seeking to access may not be lawful and is not for release, publication or distribution, in whole or in part, directly or indirectly, in certain jurisdictions. In other jurisdictions only certain categories of person may be allowed to view the materials.

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Basis of access

Access to this website is for information purposes only. Any person seeking access to this website represents and warrants to the Company that they are doing so for information purposes only. Making this website available does not constitute an offer to issue or sell, or the solicitation of an offer to subscribe for or buy, securities in the Company. Further, it does not constitute a recommendation by the Company or any associated company or any other person to sell, subscribe for or buy securities in the Company. The information on this website is general in nature and does not in any way constitute financial, investment, tax, legal or other professional advice. Visitors to this website are encouraged to seek individual advice from their legal, financial, tax, personal and other advisers before making any investment or financial decision or purchasing any financial, securities or investment related service or product.

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Canaccord Genuity, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and no-one else in connection with any issue or placing programme of the Company or in relation to the matters referred to on this website and will not regard any other person (whether or not a recipient of information from this website) as its client in relation to any issue or placing programme or in relation to the matters referred to on this website and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to any issue or the placing programme, the contents of this website or any transaction or arrangement referred to on this website or any other website which may be linked to or from this website.

The information on this website is general in nature and may be subject to amendment and updating without notice. None of the Company nor any of its advisers guarantees the accuracy or completeness of any information on this website and each such person disclaims all representations and warranties, whether express or implied, to the greatest extent permitted by applicable law and regulation, including, without limitation, representations and warranties regarding accuracy, timeliness, completeness, non-infringement, merchantability or fitness for any particular purpose and the Company and its advisers assume no responsibility to you or any third party for the consequences of any errors or omissions. By continuing to use this website, you agree to the exclusion by such persons, to the greatest extent permitted by applicable law and regulation, of any and all liability for any direct, indirect, punitive, consequential, incidental, special or other damages, including, without limitation, loss of profits, revenue or data arising out of or relating to the provision of and your use of this website and its content.

Certain information on this website is of a historical nature and may be out of date. All historical information should be understood to speak from the date of its publication.

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Governing Law

The terms and conditions of this legal notice shall be governed by and construed in accordance with the laws of England. Visitors agree that any dispute or action at law or in equity arising out of or relating to these terms or any visitor's use of this website shall be commenced only in the English courts and visitors hereby consent and submit to the personal jurisdiction of such courts for the purposes of any such dispute or action.


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