Foresight launches £20 million "D" Share Issue for Foresight Solar & Infrastructure VCT

Share on
Foresight Group (Foresight) is delighted to announce on behalf of the Board of Foresight Solar & Infrastructure VCT plc (formerly Foresight Solar VCT plc), the launch of a £20 million "D” Share Issue.
Key Highlights
  • New "D” share class to target income from energy and infrastructure projects
  • Limited Life option to exit in year six at target return of £1.10 to £1.15 
  • Regular dividends commencing in year two
Foresight Solar & Infrastructure VCT is the new name for Foresight Solar VCT, to reflect a change in investment policy for the VCT which has formed a new "D” share class to target investment in broader energy and infrastructure opportunities.  This follows the change in VCT Rules which restricts investments in UK Government subsidized solar assets and the recent announcement that from 6 April 2016, energy generation will no longer be a qualifying trade in which VCTs can invest.
The "D” share offer provides individuals with an opportunity to invest in companies that develop, build own or operate infrastructure assets that generate a regular and sustainable income.  This will include investments into Smart Data Equipment companies which generate and sell energy usage data from the smart metering units they own and international solar companies which will build and own solar PV rooftop or ground-mounted assets.
The "D” share class is intended to be an evergreen VCT, offering investors a steady target 5p per share per annum dividend income from year three, with a target dividend of 3p per share in year two, but investors will have the option to exit in year six with a target return of between £1.10 and £1.15 per £1 invested at launch or to remain invested for the long term.
Dan Wells, Partner Foresight Group, said: "Foresight Solar VCT has been a success in providing investors with a steady and rising tax-free dividend income since launch in 2011. With the change in VCT Rules, this new "D” share class gives investors a final opportunity to access energy generation projects within a tax efficient wrapper until 6 April 2016, and will additionally invest in broader qualifying energy and infrastructure assets.  It made sense to change the name of the VCT to Foresight Solar & Infrastructure VCT to reflect the change in investment policy for the "D” share class.”
The closing date for applications for tax year 2015/2016 is 4 April 2016, and investors can secure an early bird discount for applications received before 18 March 2016.
Ben Thompson, Group Marketing Director Foresight added: "Energy and infrastructure assets of the kind targeted by the new "D” share class continue to offer investors the kind of predictable and uncorrelated returns they find appealing, given prevailing stock market volatility and low interest rates.”
For further information, please contact:
Ben Thompson: / 020 3667 8155
Notes to editors:
Foresight Group is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has £1.8 billion of assets under management across a number of funds, including Listed Vehicles, Limited Partnerships, Business Property Relief (BPR), Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).