Conducted by an independent provider, a range of shares were available to bid on, with shareholders able to bid on as many or few shares as they liked. This is the first share auction of its kind for Triodos Renewables, and the company hopes to conduct monthly auctions to enable shareholders to manage their stake in the business at regular intervals.
The auction received considerable interest, and after bidding closed at 16.30pm, 58,525 shares were traded this month at an average price of 198.55p per share. All sellers who offered their shares at 185p or lower sold their shares in full, and sellers who offered their shares at 190p sold part of their holding. Likewise anyone who bid 190p or higher for shares was also successful with their bids. Shares that went unsold on this occasion will now roll forward to the March auction, and will be offered on the same basis.
Commenting on the historic occasion, Matthew Clayton, Triodos Renewables Executive Director said:
“We are thrilled that our first share auction has taken place which provides our shareholders more flexibility in managing their investment portfolios. It is a great start to our share auction capabilities with over 10% of registered shares being sold at sensible prices. We are looking forward to continuing this success and warmly welcome our new shareholder to the Triodos Renewables investor community.”
Shareholders and prospective shareholders are invited to find out more about the auction or how to bid for shares via the online Investor Centre.