FSFL Foresight Solar Fund Limited

 
TIDMFSFL 
 
 
   The following amendment has been made to the "Placing Price and Net 
Asset Value" announcement released on 3 March 2015 at 12.22 GMT. 
 
   The new Ordinary Shares to be issued will not carry any entitlement to 
the second interim dividend of 3.0 pence approved on 2 March 2015 to be 
paid on 27 March 2015.  The Placing price has been updated to 99.9 pence 
per New Share to allow for the pro forma reduction of the NAV upon which 
the Placing price is based to 98.20 pence per Share. 
 
   All other details remain unchanged. 
 
   The full amended text is shown below. 
 
   Foresight Solar Fund Limited: Placing Price and Net Asset Value 
 
   NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO 
U.S. PERSONS, OR IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH 
AFRICA OR JAPAN 
 
   This announcement does not constitute an offer to sell, or the 
solicitation of an offer to subscribe for, or to buy shares in any 
jurisdiction. 
 
   This announcement is neither an advertisement, a prospectus nor a 
financial promotion.  Any investment in any shares referred to in this 
announcement may be made only on the basis of information in the 
prospectus (the "Prospectus") published by Foresight Solar Fund Limited 
on 25 September 2014, in connection with a placing programme (the 
"Placing Programme") for ordinary shares of no par value each ("Ordinary 
Shares"), to be admitted to the Premium Listing segment of the Official 
List of the UK Listing Authority and to trading on the Main Market for 
listed securities of the London Stock Exchange. 
 
   Foresight Solar Fund Limited (the "Company") announces that as at 15 
February 2015, the unaudited Net Asset Value ("NAV") per Ordinary Share 
was 101.20 pence (31 December 2014: 100.90 pence). 
 
   The increase in NAV from 31 December 2014 includes accrued interest and 
income earned during the period and incorporates the seasonality 
inherent in solar energy production. All other valuation assumptions 
remain consistent with those previously outlined in the NAV statement 
released on 16 January 2015. 
 
   Placing Price 
 
   On 19 February 2015, the Board of the Company announced its intention to 
raise additional capital by way of a placing of new Ordinary Shares 
under the Placing Programme announced on 25 September 2014 in accordance 
with the Prospectus (the "Placing").  The Placing price is equal to the 
NAV per Share as at 15 February 2015 plus a premium of 1.75 per cent., 
rounded to the nearest decimal place. 
 
   The new Ordinary Shares to be issued will not carry any entitlement to 
the second interim dividend of 3.0 pence approved on 2 March 2015 to be 
paid on 27 March 2015.  Following the announcement of NAV as at 15 
February 2015, as reduced to 98.20 pence on a pro forma basis to exclude 
this second interim dividend, the Board therefore announces that the 
Placing price is 99.9 pence per New Share. 
 
   Timetable 
 
   The timetable is subject to change at the discretion of the Company, 
Stifel Nicolaus Europe Limited ("Stifel") and J.P. Morgan Cazenove. 
Qualified investors are invited to apply for new Ordinary Shares by 
contacting either Stifel or J.P. Morgan Cazenove. The decision to allot 
any shares to any qualified investors shall be at the discretion of the 
Company, Stifel and J.P. Morgan Cazenove. 
 
 
 
 
Event                                                                            Date 
Announcement of NAV and Placing price                                    3 March 2015 
Placing Opens                                                            3 March 2015 
Latest time and date for receipt of Placing commitments      12:00pm on 12 March 2015 
Results of Placing announced                                            13 March 2015 
Admission and Settlement                                                17 March 2015 
 Crediting of CREST in respect of New Shares                  8.00am on 17 March 2015 
 Share certificates in respect of New Shares despatched    On or around 24 March 2014 
 (if applicable) 
 
 
   Placing Agreement 
 
   Oriel Securities Limited, who were appointed as Sponsor and Joint 
Bookrunner under the Placing Programme, became part of Stifel Financial 
Corp. in July 2014.  Oriel Securities Limited's business was combined 
with other group UK businesses with effect from 1 March 2015 and its 
rights and obligations under the Placing Agreement have been novated to 
Stifel. J.P. Morgan Cazenove has been appointed Joint Bookrunner along 
with Stifel under the Placing Programme, having signed a restated 
placing agreement with the Company. 
 
   ENDS 
 
 
 
 
For further information, please contact: 
Foresight Group 
Elena Palasmith epalasmith@foresightgroup.eu     +44 (0)203 667 8100 
 
 
 
 
  Stifel (Sponsor and Joint Bookrunner)          +44 (0)20 7710 7600 
Mark Bloomfield 
 Neil Winward 
 Tunga Chigovanyika 
J.P. Morgan Cazenove (Joint Bookrunner) 
 William Simmonds                                +44 (0)20 7742 4000 
 
 
   Notes to Editors 
 
   About Foresight Solar Fund Limited ("The Company" or "FSFL") 
 
   FSFL is a Jersey-registered closed-end investment company. The Company 
invests in ground based UK solar power assets to achieve its objective 
of providing Shareholders with a sustainable and increasing dividend 
with the potential for capital growth over the long-term. 
 
   The Company raised proceeds of GBP150m through an initial public 
offering ("IPO") of shares on the main market of the London Stock 
Exchange in October 2013, and a further GBP60.1m through an Initial 
Placing and Offer for Subscription in October 2014. 
 
   About Foresight Group 
 
   Foresight Group was established in 1984 and today is a leading 
independent infrastructure and private equity investment manager with 
over GBP1.3 billion of assets under management. As one of the UK's 
leading solar infrastructure investment teams Foresight funds currently 
manage c. GBP1 billion in over 40 separate operating Photovoltaic ("PV") 
plants in the UK, the USA and southern Europe. 
 
   In May 2013 Foresight executed an innovative refinancing of its existing 
UK solar assets through the issue of a GBP60m London Stock Exchange 
listed index-linked Solar Bond. 
 
   Foresight Group has offices in London, Nottingham, Guernsey, Rome and 
the USA. 
 
   www.foresightgroup.eu 
 
   This announcement is not for distribution, directly or indirectly, in or 
into the United States of America (including its territories and 
possessions, any state of the United States of America and the District 
of Columbia) (the "United States"), Australia, Canada, Japan or South 
Africa. This announcement does not constitute, or form part of, an offer 
to sell, or a solicitation of an offer to purchase, any securities in 
the United States, Australia, Canada, Japan or South Africa.  The 
securities of the Company have not been and will not be registered under 
the U.S. Securities Act of 1933, as amended (the "Securities Act") or 
the US Investment Company Act of 1940, as amended and may not be offered 
or sold directly or indirectly in or into the United States or to or for 
the account or benefit of any US Person (within the meaning of 
Regulation S under the Securities Act). The securities referred to 
herein have not been registered under the applicable securities laws of 
Australia, Canada, Japan or South Africa and, subject to certain 
exceptions, may not be offered or sold within Australia, Canada, Japan 
or South Africa or to any national, resident or citizen of Australia, 
Canada, Japan or South Africa. 
 
   This announcement has been issued by and is the sole responsibility of 
the Company. No representation or warranty, express or implied, is or 
will be made as to, or in relation to, and no responsibility or 
liability is or will be accepted by, Stifel or J.P. Morgan Cazenove or 
by any of their respective affiliates or agents as to or in relation to 
the accuracy or completeness of this announcement or any other written 
or oral information made available to or publicly available to any 
interested party or their advisers and any liability therefore is 
expressly disclaimed. 
 
   Stifel, which is authorised and regulated in the United Kingdom by the 
Financial Conduct Authority, is acting as sponsor to the Company and is 
acting for no-one else in connection with the Placing and the contents 
of this announcement and will not be responsible to anyone other than 
the Company for providing the protections afforded to clients of Stifel 
Nicolaus Europe Limited nor for providing advice in connection with the 
Issues and the contents of this announcement or any other matter 
referred to herein. 
 
   J.P. Morgan Cazenove which is authorised by the Prudential Regulation 
Authority and regulated by the Prudential Regulation Authority and the 
Financial Conduct Authority and Stifel (together, the "Joint 
Bookrunners"), are each acting exclusively for the Company and no-one 
else in connection with the Placing or the matters referred to in this 
announcement, will not regard any other person as their respective 
client in relation to the Placing and will not be responsible to anyone 
other than the Company for providing the protections afforded to their 
respective clients or for providing advice in relation to the Placing or 
any transaction or arrangement referred to in this announcement. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Foresight Solar Fund Limited via Globenewswire 
 
   HUG#1899229 
 
 
 
 

Foresight Solar (LSE:FSFL)
Historical Stock Chart
From Aug 2024 to Sep 2024

Foresight Solar (LSE:FSFL)
Historical Stock Chart
From Sep 2023 to Sep 2024