Jun 06, 2023
This notice of Material Change is made pursuant to Section 64(1)(a) of the Securities Act 2012 and the Trinidad and Tobago Stock Exchange Rules.
Notice is hereby given that at its Annual General Meeting on 30th May 2023, MPC Caribbean Clean Energy Limited (the ‘Company’) obtained shareholders’ approval in respect of a number of matters concerning a strategic reorganization of its group structure, full details of which were set out in the notice of the meeting (available here: https://www. mpc-cleanenergy.com/fileadmin/mpc/carib2020/Downloads/Press_ Releases/MPCCEL_-_30_May_AGM_Notice.pdf and https://www.mpc-cleanenergy.com/investor-relations/annual-general-meeting). In this regard, the shareholders present at the Annual General Meeting including those who voted by proxy, unanimously approved the following:
The reorganization will only represent a change in legal structure with no change of ultimate beneficial ownership, while reducing one intermediate layer. The aim of the reorganization is to simplify the organization of the group structure, reduce administrative costs, enhance business and accounting transparency through direct asset ownership, and to transform into an open-ended corporate structure allowing for growth.
In connection with the reorganization, all assets of MPC Caribbean Clean Energy Fund LLC (the ‘Fund’) will be transferred to the Company, which will obtain full ownership of the Fund’s interests in renewable energy projects and operating assets across the Caribbean and Central America. The contemplated transaction and group reorganization are expected to be completed by Q4 2023.
Further details on the reorganization are included below:
The Trinidad and Tobago Stock Exchange Limited
Tuesday 6th June, 2023