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 a prospectus (the "Prospectus") to be published by Foresight Solar Fund Limited in connection, inter alia, with the proposed admission of its to be issued ordinary shares of no par value each 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
Result of Initial Placing and Offer for Subscription
17 October 2014
On 25 September 2014 the Board of Foresight Solar Fund Limited (the "Company") announced its intention to raise additional capital by way of an Initial Placing and Offer for Subscription (the "Initial Placing and Offer") of new Ordinary Shares ("New Shares") and to create a Placing Programme in relation to its New Shares (the Initial Placing and Offer and Placing Programme, together known as the "Issues").
The Board is pleased to announce that £60.1 million of gross proceeds has been raised in the Initial Placing and Offer. A total of 58,000,000 New Shares will be issued (subject to Admission), of which 56,073,801 New Shares will be issued pursuant to the Initial Placing and 1,926,199 New Shares will be issued pursuant to the Offer for Subscription.
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 22 October 2014.
Commenting on the fundraising, Alexander Ohlsson, Chairman, said:
"We are pleased with the support for the Company demonstrated by the results of the Initial Placing and Offer, particularly in the light of current volatile equity market conditions. The proceeds, together with existing debt facilities, will be used for the completion of the acquisition of the two assets at Bournemouth and Kencot which the Group has already contracted to acquire."
Following Admission, the Company expects to have 208,000,000 Ordinary Shares in issue. The total number of voting rights of the Company will be 208,000,000 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.
For further information, please contact:
Sarah Cole: +44 (0)203 667 8154
Oriel Securities (Sponsor and Bookrunner)
+44 (0)20 7710 7600
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, Oriel Securities Limited, or by any of its 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.
Oriel Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as sponsor and bookrunner to the Company and is acting for no-one else in connection with the Issues 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 Oriel Securities Limited nor for providing advice in connection with the Issues and the contents of this announcement or any other matter referred to herein.