Foresight Solar Fund Limited ("FSFL:LN”)

Foresight Solar Fund

Overview

  • Foresight Solar Fund Limited ("FSFL" or "the Company") is a Jersey registered, closed-end investment company.
  • The Company seeks to provide investors with a sustainable and increasing dividend together with the potential for capital growth over the long-term by investing in a diversified portfolio of predominantly UK operating ground based solar assets.
  • 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.
  • In October 2014, the Company announced a Placing Programme of up to 200 million Shares, which closed in September 2015, under which £134.9 million has been raised.  
  • A Placing of Treasury Shares in September 2016 raised a further £28.9 million and subsequent Tap Issue in October 2016 a further £31.9m to meet future market demand and provide the Company with the flexibility to take advantage of investment opportunities in the market.

Portfolio, Performance and Outlook

  • All sixteen assets in the Company's 348MW portfolio are fully operational with Renewable Obligation Certificate ("ROC") accreditation.
  • The first quarterly dividend for 2016 of 1.54 pence per share was paid on 24 June 2016. The second quarterly dividend of 1.54 pence was paid on 30 September 2016, with the third quarterly dividend of 1.54 pence approved by the Board on 18th October to be paid on 31 December 2016.
  • The Company is targeting a full year dividend for the financial year ending 31 December 2016 of 6.17 pence (6.00) pence inflated by RPI).

Key Statistics as at 31 December 2016

 

No. of Ordinary Shares:

340,950,912

Ordinary Share Price:

104.1p

NAV:

£350.8m

NAV/Share 

102.9

Target dividend per share for 2016 (index-linked and annualised):

6.17p

Contact

For further information, please contact our brokers at:

Elena Palasmith, Foresight Group: epalasmith@foresightgroup.eu, +44 (0) 20 3667 8129

William Simmonds, JP Morgan: +44 (0)20 7134 7361

Neil Winward, Stifel: +44 (0)20 7710 7460

Click here to access the Foresight Solar Fund Limited website.

IMPORTANT INFORMATION

The Company currently conducts its affairs so that the shares issued by Foresight Solar Fund Limited can be recommended by IFAs to ordinary retail investors in accordance with the FCA's rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The shares are excluded from the FCA's restrictions which apply to non­mainstream pooled investments and intends to continue to do so for the foreseeable future.

This document has been issued and approved by Foresight Group LLP, which is authorised and regulated by the Financial Conduct Authority. This document is intended for information purposes only and does not create any legally binding obligations on the part of Foresight Group LLP. Without limitation, this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. We recommend that you seek advice from your own tax and legal advisors in making this assessment. The information contained in this document is based on material we believe to be reliable. However. we do not represent that it is accurate, current, complete or error free. Assumptions. estimates and opinions contained in this document constitute our judgement as of the date of the document and are subject to change without notice. Past performance is not a guarantee of future results. The distribution of this document and availability of this product in certain jurisdictions may be restricted by law. You may not distribute this document. in whole or in part. without our express written permission.

I have read and understood the information set out in the Terms and Conditions of Use.