Irish NTR’s shareholders okay EUR-100m share redemption plan

Sep 11, 2013 - Ireland-based renewable energy investor NTR Plc said yesterday its stockholders had given the thumbs-up to its plan to return up to EUR 100 million (USD 133m) to investors through a share redemption scheme.

As many as 99.99% of NTR shareholders voted in favour of the proposal, which will see NTR redeem up to 108.7 million ordinary shares at EUR 0.92 apiece.

The company will need to cut its capital in connection with the share redemption transaction. The capital reduction plan will be subject to approval by the High Court, it said.

Last month, NTR reported losses of EUR 16.2 million (USD 21.4m) for its fiscal year through March 2013, narrowing from EUR 88.8 million a year earlier. Revenue grew to EUR 35.3 million from EUR 24.9 million.

(EUR 1.0 = USD 1.327)

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