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RNS Number : 6784A
Bluefield Solar Income Fund Limited
21 February 2014
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION
IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S. PERSONS.
Bluefield Solar Income Fund Limited
21 February 2014
Results of placing
Further to the announcement dated 19 February 2014 the Board of
Bluefield Solar Income Fund Limited (the "Company") is pleased to
announce the successful placing of new ordinary shares.
A total of 13,028,999 new ordinary shares (the "Placing Shares")
have been placed, subject to Admission and on the other terms and
conditions set out in the Appendix to the announcement made on 19
February 2014, by Numis Securities Limited ("Numis") at a price of
101p per share, raising gross proceeds of approximately GBP13.2
million. The Placing Shares represent approximately 9.99% of the
issued ordinary share capital of the Company prior to the Placing.
The placing was over-subscribed.
The Placing Shares will, when issued, be credited as fully paid
and will rank pari passu in all respects with the existing ordinary
shares of the Company. This includes the right to receive all
dividends and other distributions declared or paid in respect of
such ordinary shares after the date of Admission of the Placing
Shares.
For the avoidance of doubt the Placing Shares noted above are
expected to be issued on 3 March 2014 and will therefore not be
entitled to this first interim dividend payable to shareholders on
the register as at 28 February 2014.
Application has been made for the Placing Shares to be admitted
to the premium segment of the Official List of the Financial
Conduct Authority (the "FCA") and to trading on the main market for
listed securities of the London Stock Exchange (together,
"Admission"). It is expected that Admission will take place at
8.00am on 3 March 2014 (or such later date as may be agreed between
the Company and Numis).
Following Admission, the number of ordinary shares that the
Company has in issue will be 143,318,999. The total number of
voting rights of the Company will be 143,318,999 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, under
the Disclosure and Transparency Rules.
Capitalised terms used but not defined in this announcement have
the same meanings as set out in the placing announcement of the
Company released at 7.00am on 19 February 2014.
John Rennocks, Chairman of Company, commented..."This
successful, and over-subscribed, placing confirms the growing
market appetite for the Company's proposition. The faith investors
showed in the Company just over six months ago is being repaid by
the Company fully deploying the IPO proceeds, buying high quality
assets at attractive prices and agreeing contracted cashflows to
deliver against its dividend targets. The Board expects the Company
to build on this solid base and see significant growth throughout
2014".
Enquiries:
James Armstrong / Mike Rand / Giovanni Terranova
Bluefield Partners LLP - Company Investment Adviser
Tel: +44 (0)20 7078 0020
Tod Davis / David Benda
Numis Securities Limited - Company Broker
Tel: +44 (0)20 7260 1000
Kevin Smith
Heritage International Fund Managers Limited - Company Secretary
& Administrator
Tel: +44 (0)1481716000
Note to editors
About Bluefield Solar Income Fund Limited (the "Company" or
"BSIF")
BSIF is a Guernsey-registered investment company focusing on
large scale agricultural and industrial solar assets. The Company
raised gross proceeds of GBP130 million in July 2013 through an
initial public offering ("IPO") of shares on the main market of the
London Stock Exchange. It raised further capital via a tap issue in
February.
The Company seeks to provide shareholders with an attractive
return, principally in the form of semi-annual income
distributions, by investing in a diversified portfolio of solar
energy assets, each located within the UK, with a focus on utility
scale assets and portfolios on greenfield, industrial and/or
commercial sites.
About Bluefield Partners LLP ("Bluefield")
Bluefield was established in 2009 and is a specialist investment
adviser to funds and companies investing in solar energy
infrastructure. Bluefield's team has a proven track record in the
selection, acquisition and management of large scale energy and
infrastructure assets in the UK and Europe.
The managing partners have been involved in over GBP350m of
solar photovoltaic ("PV") funds and/or transactions in both the UK
and Europe since 2008, including over GBP170m in the UK since
December 2011. Bluefield has led the acquisitions, and currently
advises, on over 50 UK based solar assets.
Bluefield was appointed Investment Adviser to the Company in
June 2013.
Neither the content of the Company's website nor the content of
any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into or forms part of this
Announcement nor, unless previously published by means of a
Regulatory Information Service, should any such content be relied
upon in reaching a decision as to whether or not to compare,
continue to hold, or dispose of, securities in the Company.
This Announcement is for information only and does not contain
or constitute an offer of, or the solicitation of an offer to buy,
securities in the United States, Canada, Australia, Japan, the
Republic of South Africa, any member of the EEA other than the
United Kingdom or any jurisdiction in which the same would be
unlawful.
The securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"US Securities Act"), under the securities legislation of any state
of the United States or under the applicable securities laws of
Canada, Australia, Japan, the Republic of South Africa or any
member of the EEA other than the United Kingdom. The securities
referred to herein may not be offered or sold in the United States
or to U.S. Persons (within the meaning of Regulation S under the US
Securities Act). Subject to certain exceptions, the securities
referred to herein may not be offered or sold in Canada, Australia,
Japan, the Republic of South Africa or any member of the EEA other
than the United Kingdom or to, or for the account or benefit of,
any national, resident or citizen of Canada, Australia, Japan, the
Republic of South Africa or any member of the EEA other than the
United Kingdom. Any failure to comply with these restrictions may
constitute a violation of U.S., Australian, Canadian, Japanese,
South African or any EEA member's (other than the United Kingdom's)
securities laws, as applicable. No public offer of the Company's
securities is being or will be made in the United States, Canada,
Australia, Japan, the Republic of South Africa, any member of the
EEA (including the United Kingdom) or elsewhere. No action has been
taken by the Company or Numis that would permit an offering of the
securities referred to herein or possession or distribution of this
Announcement or any other offering or publicity material relating
to such securities in any jurisdiction where action for that
purpose is required. Persons into whose possession this
Announcement comes are required by the Company and Numis to inform
themselves about, and to observe, any such restrictions.
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 Numis
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 its advisers, and any liability therefore is
hereby expressly disclaimed.
Numis, which is authorised and regulated by the FCA, is acting
for the Company in connection with the Placing and for no one else
and will not be responsible to anyone other than the Company for
providing the protections afforded to clients of Numis or for
providing advice in relation to the Placing or any matter referred
to in this Announcement.
This Announcement is not for publication or distribution, in
whole or in part, directly or indirectly, in or into the United
States, Canada, Australia, Japan, the Republic of South Africa, any
member of the EEA other than the United Kingdom or any jurisdiction
in which the same would be unlawful.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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