Foresight Slr Fnd Ld Foresight Solar Fund Limited : Result Of Tap Issuance
26 October 2016 - 5:02PM
UK Regulatory
TIDMFSFL
Foresight Solar Fund Limited: Result of Tap Issuance
On 19 October 2016, the Board of Foresight Solar Fund Limited (the
"Company") announced its intention to raise additional capital by way of
a tap issuance of up to 30,995,537 ordinary shares (the "New Shares"),
representing approximately 9.99 per cent. of the Company's issued share
capital (the "Tap Issuance").
The Board is pleased to announce that the Tap Issuance was
oversubscribed and GBP31.9m of gross proceeds has been raised. A total
of 30,995,537 New Shares will be issued at a price of 103.0 pence each.
It is expected that settlement with respect to those New Shares will
take place on 28 October 2016.
Following the Tap Issuance, the number of Ordinary Shares that the
Company has in issue will be 340,950,912. The total number of Ordinary
Shares with voting rights in the Company will be 340,950,912.
Commenting on the announcement, Alex Ohlsson, Chairman of the Company,
said: "We are delighted with the result of the Tap Issuance, with
support from both existing and new investors meaning the placing was
oversubscribed. Having secured exclusivity over an 82MW operational
portfolio, the Company expects to deploy the additional funds raised
shortly, thereby avoiding the impact of cash drag on investors."
Total Voting Rights
The above figure (340,950,912) 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 Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
For further information, please contact:
Foresight Group
Elena Palasmith epalasmith@foresightgroup.eu
+44 (0)20 3667 8100
Stifel Nicolaus Europe Limited (Joint Bookrunner)
+44 (0)20 7710 7600
Mark Bloomfield
Neil Winward
Tunga Chigovanyika
J.P. Morgan Cazenove (Joint Bookrunner)
+44 (0)20 7742 4000
William Simmonds
Disclaimer
The information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014). Upon the publication of this
announcement via Regulatory Information Service this inside information
is now considered to be in the public domain.
This announcement is neither an advertisement, a prospectus nor a
financial promotion.
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 U.S. 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 U.S. 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, Stifel Nicolaus Europe 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.
Stifel Nicolaus Europe Limited, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting exclusively
for the Company and is acting for no-one else in connection with the Tap
Issuance or the matters described in this announcement and the contents
of this announcement, will not regard any other person as their
respective client in relation to the Tap Issuance and will not be
responsible to anyone other than the Company for providing the
protections afforded to clients of Stifel Nicolaus Europe Limited nor
for providing advice in connection with the Tap Issuance and the
contents of this announcement or any other transaction, arrangement or
matter referred to herein.
J.P. Morgan Securities plc, which conducts its UK investment banking
activities as J.P. Morgan Cazenove, which is authorised by the
Prudential Regulation Authority and regulated by the Prudential
Regulation Authority and the Financial Conduct Authority in the United
Kingdom, is acting exclusively for the Company and no-one else in
connection with the Tap Issuance or the matters described in this
announcement and the contents of this announcement, will not regard any
other person as their respective client in relation to the Tap Issuance
and will not be responsible to anyone other than the Company for
providing the protections afforded to clients of J.P. Morgan Cazenove
nor for providing advice in connection with the Tap Issuance and the
contents of this announcement or any other transaction, arrangement or
matter referred to herein.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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
(END) Dow Jones Newswires
October 26, 2016 02:02 ET (06:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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