Foresight Solar Fund Limited: Result of Placing

To view or print the full announcement from PDF click here. 
 
On 19 February 2015, the Board of Foresight Solar Fund Limited (the "Company") announced its intention to raise additional capital by way of a placing of new Ordinary Shares ("New Shares") under the Placing Programme in accordance with the Prospectus and the Supplementary Prospectus (the "Placing").  
 
The Board is pleased to announce that £36.1m of gross proceeds has been raised in the Placing. A total of 36,132,418 New Shares will be issued (subject to Admission).
 
Application has been made for the New Shares to be admitted to the Official List and to trading on the London Stock Exchange’s Main Market for listed securities ("Admission"). It is expected that Admission will become effective and dealings in the New Shares will commence on 17 March 2015.
 
Following Admission, the Company expects to have 244,132,418 Ordinary Shares in issue. The total number of voting rights of the Company will be 244,132,418 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
 
ENDS
 
For further information, please contact:
Foresight Group
+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 £150m through an initial public offering ("IPO”) of shares on the main market of the London Stock Exchange in October 2013, and a further £60.1m 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 £1.3 billion of assets under management. As one of the UK’s leading solar infrastructure investment teams Foresight funds currently manage c. £1 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 £60m London Stock Exchange listed index-linked Solar Bond. 

Foresight Group has offices in London, Nottingham, Guernsey, Rome and the USA.