Foresight Group Holdings Limited Foresight announces successful FSF placing of GBP45m (0458Q)
24 June 2022 - 04:01PM
UK Regulatory
TIDMFSG
RNS Number : 0458Q
Foresight Group Holdings Limited
24 June 2022
LEI: 213800NNT42FFIZB1T09
24 June 2022
Foresight announces successful FSF placing of GBP45m
Foresight Group Holdings Limited ("Foresight"), a leading
infrastructure and private equity manager, is pleased to announce
that Foresight Sustainable Forestry Company Plc ("FSF") has
successfully completed the Placing and Offer for Subscription
(together the "Issue") it announced on 14 June 2022.
Within eight months of listing, FSF fully deployed the GBP130
million IPO proceeds and returned to the market to raise a further
GBP45 million[1], issuing an additional 42,076,054 new ordinary
shares at a price of 107.0p in the process. FSF will utilise
proceeds from the Issue to acquire further properties within its
imminent pipeline of forestry and afforestation assets, increasing
its reach and impact.
FSF has constructed a diverse portfolio of 40 properties
covering an area of 8,658 hectares across Scotland, England and
Wales. Within its current portfolio, 38% are afforestation sites
(by value). This asset type provides significant value creation
opportunities, alongside providing exposure to the real returns and
capital appreciation benefits of UK timber and land markets. As at
31 March 2022 FSF had delivered a very strong total net asset value
return of 4.2%, largely due to an upward revaluation of FSF's
afforestation sites as a result of rising land prices, granting of
planning permissions and completion of planting programmes.
Bernard Fairman, Executive Chairman of Foresight Group Holdings
Limited, commented:
"The full deployment and successful subsequent raise for FSF,
well within its first year of operations, represent a significant
endorsement of Foresight Group's innovative approach to launch this
fund as the first UK natural capital focused investment trust on
the main market of the London Stock Exchange.
"This approach delivers a scalable platform to raise retail and
multi-asset capital for a fund with exceptional ESG and
biodiversity credentials."
For further information please contact:
Foresight Group Investors Citigate Dewe Rogerson
Caroline Merrell / Toby
Liz Scorer Moore
+44 (0) 7852 210329
/ +44 (0) 7768 981763
+44 (0) 7966 966956 caroline.merrell@citigatedewerogerson.com
ir@foresightgroup.eu /
toby.moore@citigatedewerogerson.com
About Foresight Group Holdings Limited
Foresight Group was founded in 1984 and is a leading listed
infrastructure and private equity investment manager. With a
long-established focus on ESG and sustainability-led strategies, it
aims to provide attractive returns to its institutional and private
investors from hard-to-access private markets. Foresight manages
over 300 infrastructure assets with a focus on solar and onshore
wind assets, bioenergy and waste, as well as renewable energy
enabling projects, energy efficiency management solutions, social
and core infrastructure projects and sustainable forestry assets.
Its private equity team manages ten regionally focused investment
funds across the UK and a SME impact fund supporting Irish SMEs.
This team reviews over 2,500 business plans each year and currently
supports more than 200 investments in SMEs. Foresight Capital
Management manages four strategies across six investment vehicles
with an AUM of over GBP1.6 billion.
Foresight operates from 12 offices across six countries in
Europe and Australia with AUM of over GBP9 billion as at 13 June
2022*. Foresight Group Holdings Limited listed on the Main Market
of the London Stock Exchange in February 2021.
https://www.fsg-investors.com/
*Unaudited Assets Under Management, as at 13 June 2022.
Disclaimer - Forward-looking statements
This statement, prepared by Foresight Group Holdings Limited
(the "Company"), may contain forward-looking statements about the
Company and its subsidiaries (the "Group"). Such forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "projects",
"estimates", "plans", "anticipates", "targets", "aims",
"continues", "expects", "intends", "hopes", "may", "will", "would",
"could" or "should" or, in each case, their negative or other
various or comparable terminology. Forward-looking statements
involve known and unknown risks, uncertainties, assumptions and
other factors which are beyond the Company's control and are based
on the Company's beliefs and expectations about future events as of
the date the statements are made. If the assumptions on which the
Group bases its forward-looking statements change, actual results
may differ from those expressed in such statements. There are a
number of factors that could cause actual results and developments
to differ materially from those expressed or implied by these
forward-looking statements, including those set out under
"Principal Risks" in the Company's annual report for the financial
year ended 31 March 2021. The annual report can be found on the
Company's website ( www.fsg-investors.com ). Forward-looking
statements speak only as of the date they are made. Except as
required by applicable law and regulation, the Company undertakes
no obligation to update these forward-looking statements. Nothing
in this statement should be construed as a profit forecast.
[1] Includes GBP13.5 million investment from Foresight's
Inheritance Tax Solutions Fund
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