NextEnergy Solar Fund Limited Net Asset Value & Interim Dividend (4707I)
09 August 2019 - 1:56AM
UK Regulatory
TIDMNESF
RNS Number : 4707I
NextEnergy Solar Fund Limited
08 August 2019
8 August 2019
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Net Asset Value Update and Interim Dividend
-- Ordinary shareholders' NAV at 30 June 2019 of GBP643m (31 March 2019: GBP645m)
-- NAV per ordinary share of 110.4p (31 March 2019: 110.9p)
-- 1(st) interim dividend of 1.7175p per ordinary share for the
year ending 31 March 2020 (year ended 31 March 2019: 1.6625p)
-- Total capacity installed of 691MW (31 March 2019: 691MW)
-- 87 operating solar assets (31 March 2019: 87)
Net Asset Value
The Company announces its unaudited Net Asset Value ("NAV") as
at 30 June 2019.
The NAV per ordinary share amounted to 110.4p as at 30 June
2019, compared to 110.9p as at 31 March 2019. The movement in NAV
per ordinary share was driven by numerous factors, including a fall
in the medium- and long-term forecasts for power prices in the UK
and a reduction in short-term inflation forecasts, offset in part
by financing efficiencies.
The Company's June 2019 factsheet is available on the Company's
website nextenergysolarfund.com
Interim Dividend and Scrip Dividend Alternative
NESF is pleased to announce an interim dividend of 1.7175 pence
per ordinary share for the quarter ending 30 June 2019. The interim
dividend of 1.7175 pence will be paid on 30 September 2019 to
shareholders on the register as at the close of business on 23
August 2019. The ex-dividend date is 22 August 2019.
The Company will also be offering shareholders a scrip dividend
alternative to this interim dividend. A circular will be sent to
shareholders tomorrow in relation to the quarterly interim dividend
cycle, scrip dividend alternative and scrip dividend election for
the first quarterly interim dividend for the financial year ending
31 March 2020 (the "Circular").
A copy of the Circular will shortly be submitted to the National
Storage Mechanism and will be available for inspection at
morningstar.co.uk/uk/NSM*. The Circular will also be available to
view and / or download from the Investor Relations part of the NESF
website (nextenergysolarfund.com).
The scrip share reference price will be announced on 30 August
2019 with elections to be made by 9 September 2019.
* Neither the NSM website nor the Company's website nor the
content of any website accessible from hyperlinks on those websites
(or any other website) is (or is deemed to be) incorporated into,
or forms (or is deemed to form) part of this announcement.
For further information, please contact:
NextEnergy Capital Limited 020 3746 0700
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7719
Robert Peel
Shore Capital 020 7408 4090
Anita Ghanekar
Macquarie Capital (Europe) Limited 020 3037 2000
Nick Stamp
MHP Communications 020 3128 8100
Oliver Hughes
Apex Fund and Corporate Services (Guernsey)
Limited 01481 735827
Nicholas Robilliard
Notes to Editors:
NESF is a specialist investment company that invests primarily
in operating solar power plants in the UK. It is able to invest up
to 15% of its Gross Asset Value in operating solar power plants in
OECD countries outside the UK. The Company's objective is to secure
attractive shareholder returns through RPI-linked dividends and
long-term capital growth. The Company achieves this by acquiring
solar power plants on agricultural, industrial and commercial
sites.
As at 30 June 2019, NESF has raised equity proceeds of GBP692m
(including GBP100m of preference shares) since its initial public
offering on the main market of the London Stock Exchange in April
2014. The Company's subsidiaries have financial debt outstanding of
GBP269m, on a look-through basis and including at project level. Of
this, GBP199m was long-term fully amortising financing, and GBP70m
was drawn under a short-term credit facility.
NESF is differentiated by its access to NextEnergy Capital Group
("NEC Group"), its Investment Manager, which has a strong track
record in sourcing, acquiring and managing operating solar assets.
WiseEnergy is NEC Group's specialist operating asset management
division and over the course of its activities has provided
operating asset management, monitoring, technical due diligence and
other services to over 1,300 utility-scale solar power plants with
an installed capacity in excess of 1.9 GW.
Further information on NESF, NEC Group and WiseEnergy is
available at nextenergysolarfund.com, nextenergycapital.com and
wise-energy.eu.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NAVLLFEETSITIIA
(END) Dow Jones Newswires
August 08, 2019 11:56 ET (15:56 GMT)
Nextenergy Solar (LSE:NESF)
Historical Stock Chart
From Apr 2024 to May 2024
Nextenergy Solar (LSE:NESF)
Historical Stock Chart
From May 2023 to May 2024