Proposed Placing and Offer for Subscription

RNS Number : 1612W

NextEnergy Solar Fund Limited

05 November 2014

 



NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S. PERSONS (WITHIN THE MEANING OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED).

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS.  THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, ANY OFFER FOR SALE OR SUBSCRIPTION OF, OR SOLICITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR, ANY SHARES IN NEXTENERGY SOLAR FUND LIMITED IN ANY JURISDICTION, INCLUDING THE UNITED STATES, NOR SHALL IT, OR ANY PART OF IT, OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY CONTRACT OR INVESTMENT DECISION WHATSOEVER, IN ANY JURISDICTION.  THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION REGARDING ANY SECURITIES.

ANY INVESTMENT DECISION MUST BE MADE EXCLUSIVELY ON THE BASIS OF THE PROSPECTUS to be PUBLISHED BY THE COMPANY (AND ANY SUPPLEMENT THERETO).

5 November 2014

NextEnergy Solar Fund Limited ("NESF")

Proposed Placing and Offer for Subscription

Following the approval of the Placing Programme at the general meeting of the Company held on 4 November 2014, NESF is pleased to announce its intention, subject only to publication of the Prospectus which is expected on 7 November 2014, to proceed with an initial placing and offer for subscription of New Ordinary Shares. 

The issue price per New Ordinary Share is expected to be 104.9p, which represents a premium of 1.75% to the unaudited 30 September 2014 net asset value of 103.1p per Ordinary Share.  The New Ordinary Shares will be entitled to the interim dividend of 2.625p per Ordinary Share declared on 4 November and payable on 17 December 2014 to Shareholders on the register on 5 December 2014.

The timetable for the initial placing and offer for subscription is expected to be as follows:

Prospectus published	Friday, 7 November 2014
Placing and offer for subscription opens	Friday, 7 November 2014
Placing and offer for subscription  close	Wednesday, 12 November 2014
Result of placing and offer for subscription announced	Thursday, 13 November 2014
Dealings commence in New Ordinary Shares	Wednesday, 19 November 2014

A further announcement will be made upon publication of the Prospectus.

Terms defined in the shareholder circular dated 9 October 2014 have the same meanings when used in this announcement.

For further information:

NextEnergy Capital Limited	020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe (Financial Adviser and Joint Lead Bookrunner)	020 7894 7667
Sue Inglis
Shore Capital (Sponsor and Joint Bookrunner)	020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Patrick Castle
Macquarie Capital (Europe) Limited (Joint Lead Bookrunner)	020 3037 2000
Ken Fleming
MHP Communications	020 3128 8100
Rupert Trefgarne
Jamie Ricketts

Notes to Editors:

NextEnergy Solar Fund

NextEnergy Solar Fund (www.nextenergysolarfund.com) is a specialist investment fund focused on operational solar photovoltaic ("PV") assets located in the UK.  The Company intends to provide investors with a sustainable and attractive dividend that increases in line with RPI over the long term and an element of capital growth through the re-investment of net cash generated in excess of the target dividend.

Further information on NextEnergy Capital and WiseEnergy is available at www.nextenergycapital.com and www.wise-energy.eu.

 

END

 

 

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