Completion of the Sale of Ordinary Shares portfolio
February 24 2023 - 11:36AM
Completion of the Sale of Ordinary Shares portfolio
Completion of the Sale of Ordinary
Shares portfolio
Foresight Solar & Technology VCT plc (“the Fund”) is pleased
to announce completion of the sale of its portfolio of solar assets
held in the Ordinary Share class (the “sale”), generating gross
proceeds of over £100m.
The final sale price has delivered a strong return to
shareholders in the Fund of approximately 140p per Ordinary share
compared to the last reported Net Asset Value of 131.2p per share
as at 30 September 2022 and reflects Foresight’s capabilities in
asset management optimisation. The total return to investors is
approximately 185p.
Further details of how and when the proceeds will be distributed
to shareholders will be announced in due course.
Ernie Richardson, Chair of Foresight Solar &
Technology VCT plc, commented:
“We are delighted with the uplift in value that
the Ordinary share class portfolio has shown over the last 18
months. Along with this, the team managing the Fund have expertly
negotiated an exceptional return for our investors and we are
pleased with the outcome of this sale.
“Our confidence is illustrated by the launch of
the Foresight Solar & Technology VCT plc FWT Share Class
prospectus last month. The progress made by the FWT Fund since its
inception in 2019 provides us with confidence for 2023 and we hope
to continue this trajectory.”
For further information please contact:
Gary Fraser, Foresight Group: 020 3667 8181
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