Two directors resign from Aquila Energy Efficiency trust over disagreement of investment deployment pace

Listed in June

Kathleen Gallagher
clock • 1 min read
Laura Sandys and Lisa Arnold are resigning due to a “difference of opinion regarding the speed of deployment"
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Laura Sandys and Lisa Arnold are resigning due to a “difference of opinion regarding the speed of deployment"

Two non-executive directors of the £98m Aquila Energy Efficiency trust have resigned as the remaining members of the board launched a review of the trust’s investment strategy.

Laura Sandys and Lisa Arnold are resigning due to a "difference of opinion regarding the speed of deployment," according to a stock exchange announcement on 31 January. Remaining board members Nicholas Bliss and chair Miriam Greenwood "remain committed" to the trust and are searching for replacements. The trust, which is trading on an almost 10% discount, listed in June last year, raising £100m to invest in energy efficiency assets. At IPO, the manager said there was a pipeline of €210m investments that were either under negotiations or already held in Aquila-managed funds, as well...

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