Trading Emissions PLC is an Isle of Man-based investment fund established for the purpose of investing in environmental and emissions assets. In April 2005 £135 million in cash was raised to acquire tradable environmental instruments. But, to say the least, emissions trading did not work out as envisaged and the company then engaged in investment in renewables.
The present, revised, investment objective of the Company is to carry out an orderly realization of the portfolio of carbon and private equity assets, to distribute the net proceeds to Shareholders and then to undertake a voluntary winding-up of the Company. Since 2013 a total of £84.9 million has been distributed to shareholders. In April 2016 a further distribution of £12.5 m was made.
According to the latest Annual Report, the final steps in the process of winding up could take several years. This is partly because changes in Polish legislation on wind farms could have an impact on the payment of the residual proceeds from the sale of Slupsk, a Polish wind farm. In addition part of the proceeds from the December 2016 sale of two of TEP’s five Italian solar facilities are to be placed in escrow for two years against possible claims.
Exchange London AIM (TRE)
Financial Data from Exchange website: LSE summary
Recent Financial Data: Annual report to 30 June 2016
Chairman Martin Adams
Director Neil Duggan
Trading Emissions PLC’s registered address is:
Isle of Man IM1 1AP