Foresight Solar Fund Limited : Proposed Issue o...

Foresight Solar Fund Limited

Proposed Issue of Equity under the Placing Programme

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 the prospectus (the "Prospectus") published by Foresight Solar Fund Limited on 25 September 2014, in connection with a placing programme (the "Placing Programme") for ordinary shares of no par value each ("Ordinary Shares"), to be admitted 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.

19th February 2015

The Board of Foresight Solar Fund Limited (the "Company") is pleased to announce a proposed placing of new Ordinary Shares under the Placing Programme announced on 25 September 2014 in accordance with the Prospectus (the "Placing"). The Placing price will be based on an updated NAV per Ordinary Share to be announced on 3 March 2015 plus a premium of 1.75% to cover the costs of the Placing.

The proceeds from the Placing will be used to repay the existing acquisition facility and enable the Company to take advantage of additional investment opportunities identified in the UK market, therefore avoiding cash drag on Shareholders' funds.

Unless otherwise defined herein, terms used in this announcement shall have the same meanings as those defined in the Prospectus.
Timetable

The timetable is subject to change at the discretion of the Company, Oriel Securities Limited and J.P. Morgan Cazenove. 

Event	Date
Announcement of issue of equity under the Placing Programme and timetable	19 February 2015
Announcement of NAV  and Placing price	3 March 2015
Placing Opens	3 March 2015
Latest time and date for receipt of Placing commitments	12:00pm on 12 March 2015
Results of Placing announced	13 March 2015
Admission and Settlement	17 March 2015

ENDS

For further information

Foresight Group
Elena Palasmith                  [e-mail]                     [phone]

Oriel Securities	[phone]
Mark Bloomfield Neil Winward Tunga Chigovanyika

J.P. Morgan Cazenove                                                                                          [phone]
William Simmonds

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 over £930 million in 44 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 the UK, the USA and Italy.

www.foresightgroup.eu

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 J.P. Morgan Cazenove or by any of their respective 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 to the Company and is acting for no-one else in connection with the Placing 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.

J.P. Morgan Cazenove which is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority and Oriel Securities Limited, are each acting exclusively for the Company and no-one else in connection with the Placing or the matters referred to in this announcement, will not regard any other person as their respective client in relation to the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Placing or any transaction or arrangement referred to in this announcement.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Foresight Solar Fund Limited via Globenewswire

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