If you can’t find the answer to your question below, please contact TRIG’s Administrator & Company Secretary whose contact details are available here.
These FAQs are general in nature and are not intended to provide specific investment, financial, legal, accounting or tax advice, nor do they seek to make any recommendations about the suitability of TRIG shares for any particular investor. If you require any such advice, please consult a suitably qualified professional adviser.
- About TRIG
Does TRIG does fall within the HMRC’s definition of an offshore fund?
No. TRIG does not fall within the HMRC’s definition of an offshore fund for UK resident investors. Further information may be found on HMRC’s website (see www.hmrc.gov.uk/manuals/ofmanual/Index.htm).
Is TRIG a Non-Mainstream Pooled Investment (NMPI)?
No. Following the receipt of legal advice, the Board has confirmed that it conducts the Company’s affairs, and intends to continue to conduct the Company’s affairs, such that the Company would qualify for approval as an investment trust if it were resident in the United Kingdom. It is the Board’s intention that the Company will continue to conduct its affairs in such a manner and that IFAs should therefore be able to recommend its Ordinary Shares to ordinary retail investors in accordance with the FCA’s rules relating to non-mainstream investment products.
What are TRIG’s Ongoing Charges?
The Company’s Ongoing Charges Ratio for the year ended 31 December 2020 was 0.94% on an annualised basis. TRIG is a member of The Association of Investment Companies (“AIC”). Ongoing Charges, in accordance with AIC guidance, are defined as annualised ongoing charges (i.e. excluding acquisition costs and other non-recurring items) divided by the average published undiluted net asset value in the period. Further information regarding The Association of Investment Companies may be found via the following external link: www.theaic.co.uk. Please refer to Contact for full address details and Useful Links for further information.
What ESG accreditation does TRIG and its Investment Manager have?
TRIG invests in renewable energy. The overall environmental contribution of the investment portfolio is substantial, with the committed portfolio as at 20 February 2021 capable of producing enough clean energy annually to power the equivalent of 1.3m homes and avoid the emissions of 1.1 tonnes of CO2. TRIG also seeks to maintain the highest standard of business conduct and stakeholder engagement to make a positive impact on the community and environment in which it operates.
The Company’s Investment Manager, InfraRed Capital Partners, incorporates sustainability issues into its investment analysis and decision making. As a result, InfraRed has received an A+ Principles for Responsible Investment (“PRI”) rating for six consecutive years, the highest attainable score.
PRI is an investor initiative in partnership with UNEP Finance Initiative and UN Global Compact which is widely recognised and highly regarded around the world. In order to achieve an excellent PRI score, it is essential to showcase leadership in responsible investment.
TRIG has both the Green Economy Issuer from the London Stock Exchange and has achieved Guernsey Green Fund accreditation.
TRIG received the Guernsey Green Fund accreditation on 7th May 2019 via a Route 2 application (whereby a licensee provides a declaration that the Company meets the green criteria). Aztec Financial Services (Guernsey), TRIG’s administrator, certified on behalf of TRIG to the Guernsey Financial Services Commission that TRIG complies with criteria 1.1, as it invests in ‘Electricity, under the renewable energy category’ As noted above.
The objective of the Guernsey Green Fund is to provide a platform upon which investments into various green initiatives can be made, enhancing investor access to the green investment space by providing a trusted and transparent product that contributes to the internationally agreed objectives of mitigating environmental damage and climate change.
What is the Company’s ticker, and what are its ISIN and SEDOL codes?
The Company’s ticker is TRIG and its ISIN and SEDOL codes are GG00BBHX2H91 and BBHX2H9, respectively.
What is TRIG’s official benchmark?
The Company does not currently have a benchmark index for listed infrastructure investment companies per se, but the FTSE 250 index or the FTSE All Share index may be used to show relative performance.
When does TRIG announce its results?
The Company’s annual results are normally published in February (in respect of its financial year ended 31 December) and its interim results are normally published in August (in respect of the six months ended 30 June). Please refer to the Corporate Calendar for further information.
When was TRIG listed and at what price?
TRIG was listed on the Main Market of the London Stock Exchange on 29 July 2013 at an issue price of 100p.
Who are TRIG’s corporate advisers?
- Investment Manager: InfraRed Capital Partners Limited
- Operations Manager: Renewable Energy Systems Limited (“RES”)
- Administrator & Company Secretary: Aztec Financial Services (Guernsey) Limited
- Corporate Brokers: Investec Bank plc and Liberum Capital Limited
- Financial PR: Maitland/ AMO
- Registrar: Link Asset Services (Guernsey) Limited
- Auditor: Deloitte LLP
Are TRIG’s shares eligible for inclusion within a NISA/ISA, PEP or SIPP?
TRIG’s shares are eligible for inclusion in NISA/ISAs and PEPs (subject to applicable subscription limits) provided that they have been acquired by purchase in the market, and they are permissible assets for SIPPs.
How can I invest?
The Company’s shares are traded on the London Stock Exchange. If you are confident in making your own investment decisions you can do this by buying your shares directly through a stockbroker or through an execution-only dealing service. Your bank or building society may offer a dealing service; however, many alternatives are available so you should investigate which is best for your needs.
How do I subscribe for paperless or e-communications?
The Chairman, through Link Asset Services (Guernsey) Limited, writes to new shareholders periodically to ask if they require paper copies of the Company’s statutory documents or communications. If you do not elect to continue receiving paper copies, you will instead be sent a notification by post whenever a relevant document/communication is published on the Company’s website.
Alternatively, if you are happy to be removed from paper communication completely, and to just receive email notifications following the publication of statutory or other shareholder documentation, you can register your email address directly with Link Asset Services (Guernsey) Limited. If you have not received a letter from Link Asset Services (Guernsey) Limited yet, or you wish to change your current preferences in respect of either of these services, instructions can be found in Shareholder Services.
How much and when is the next dividend payable? Where can I find details of the dividend history?
TRIG normally pays dividends on a quarterly basis, on or around the last business day in March, June, September and December of each year. It is expected that the quantum of each quarterly dividend will be one-quarter of the forecast dividend for the year. The timetable for the current financial year’s dividend is set out in Corporate Calendar, whilst the Company’s dividend history can be found in Financial Performance.
Is stamp duty payable when I purchase TRIG shares?
No stamp duty (or SDRT in the context of paperless transactions) is payable on the purchase of shares in a Guernsey company – the duty only applies to shares in UK companies or foreign companies who maintain their share register in the UK. Your financial advisor should be able to clarify any liabilities.
Is there a Dividend Reinvestment Plan (scrip alternative)?
The Company currently offers a scrip dividend alternative for shareholders who wish to receive new ordinary shares in lieu of cash. In doing so, shareholders increase their holdings without incurring dealing costs or stamp duty. Under current tax rules, scrip shares received by UK individuals are not taxed as income but under the capital gains tax regime when the shares are disposed of. Shareholders who wish to take advantage of the scrip dividend alternative should complete (if they have not already done so) a Scrip Dividend Mandate, which sets up a standing election for the reinvestment of all dividends. A Scrip Dividend Mandate can be cancelled at any time.
Is TRIG an approved investment trust (and therefore eligible for inclusion in an offshore bond)?
An approved investment trust is a company which the Commissioners of HMRC are satisfied meets all of the conditions set out in section 1158 CTA 2010. As TRIG is not resident in the United Kingdom, it does not meet all of these conditions. However, TRIG does meet the criteria to qualify as an “overseas equivalent” of a UK investment trust and as such, TRIG constitutes permitted investments for an offshore bond.
What UK Taxation is applicable to shareholders?
Please refer to the most recent Prospectus which can be found in the Publications section. Please note that this section provides a generic overview of relevant tax issues at the time of the Prospectus’s issue and that investors should obtain their own specific and up to date financial and tax advice.
When does the company report its financial results and what is its current share price?
TRIG reports in detail on its financial performance for each year in February and provides an interim report at the half year each August. The Company’s share price (with a 15-minute delay) is available in the Share Centre. The price is also quoted daily in the Financial Times.
Where can I find TRIG’s Key Information Document (KID)?
TRIG’s Key Information Document can be found here under Reports & Publications in the Investor Relations section of this website.
Will I incur Guernsey tax on my dividends?
Shareholders not tax resident in Guernsey: Under current tax arrangements, provided the Company maintains its exempt status, the Company’s distributions, whether paid in cash or as a scrip dividend, are made to Shareholders (not being Guernsey tax resident) without giving rise to a liability to Guernsey income tax. Furthermore, the Company is not required to withhold Guernsey tax on such distributions.
Shareholders tax resident in Guernsey: Shareholders who are resident for tax purposes in Guernsey (which includes Alderney and Herm) will incur Guernsey income tax at the applicable rate on a distribution, whether received in cash or as a scrip dividend from the Company. Provided the Company maintains its exempt status, there is no requirement for the Company to withhold tax from the payment of a distribution to a Guernsey resident Shareholder.