TIDMNESF
RNS Number : 9218E
NextEnergy Solar Fund Limited
22 July 2016
THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED IN IT, IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, SOUTH AFRICA, ANY MEMBER STATE OF THE EUROPEAN
ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM, IRELAND, THE
NETHERLANDS AND SWEDEN) OR ANY OTHER JURISDICTION IN WHICH THE SAME
WOULD BE UNLAWFUL OR RESTRICTED BY LAW (COLLECTIVELY, "RESTRICTED
JURISDICTIONS") OR TO US PERSONS (WITHIN THE MEANING OF REGULATION
S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED).
THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER
TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR
SUBSCRIBE FOR, ANY SECURITIES IN THE COMPANY IN ANY RESTRICTED
JURISDICTION, 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 THEREFOR OR INVESTMENT DECISION IS RESPECT OF
ANY SUCH SECURITIES. WITHOUT PREJUDICE TO THE FOREGOING GENERALITY,
THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION REGARDING
ANY SECURITIES.
SAVE IN RELATION TO THE UNITED KINGDOM, IRELAND, THE NETHERLANDS
AND SWEDEN, NO ACTION HAS BEEN TAKEN BY THE COMPANY OR ANY OF THE
JOINT BOOKRUNNERS THAT WOULD PERMIT AN OFFERING OF NEW SHARES OR
POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT, ANY OTHER
PUBLICITY MATERIAL OR ANY OFFERING MATERIAL RELATING TO SUCH SHARES
IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED.
PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT OR ANY OTHER SUCH
MATERIALS COMES SHOULD INFORM THEMSELVES ABOUT, AND OBSERVE, ANY
SUCH RESTRICTIONS. ANY FAILURE TO COMPLY WITH ANY SUCH RESTRICTIONS
MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF ANY SUCH
JURISDICTION.
UNLESS THE CONTEXT REQUIRES OTHERWISE, WORDS AND EXPRESSIONS
DEFINED IN THE COMPANY'S " NET ASSET VALUE UPDATE AND PROPOSED TAP
ISSUANCE PROGRAMME" ANNOUNCEMENT RELEASED ON 15 JULY 2016 HAVE THE
SAME MEANINGS WHEN USED IN THIS ANNOUNCEMENT
22 July 2016
NextEnergy Solar Fund Limited ("NESF" or the "Company")
Result of Tap Issue
Further to the introduction of the Tap Issuance Programme
announced on 15 July 2016, the Board is pleased to announce that
the first Tap Issue (the "Issue") has raised gross proceeds of
GBP42.16 million.
The Company has received applications from existing and new
investors pursuant to the Issue for 41,991,242 New Shares at 100.4p
per share. Accordingly, the Company will sell all of the 30,850,000
ordinary shares currently held in treasury (the Treasury Shares")
and, subject to Admission, issue a further 11,141,242 ordinary
shares (the "Additional Shares") to satisfy these applications in
full.
Applications have been made to the FCA for the Additional Shares
to be admitted to the premium segment of the Official List and to
the London Stock Exchange for the Additional Shares to be admitted
to trading on its main market for listed securities ("Admission").
Admission is expected to become effective, and dealings in the
Additional Shares are expected to commence, at 8.00 a.m. on 27 July
2016. The Treasury Shares have already been admitted to the premium
segment of the Official List and to trading on the London Stock
Exchange's main market for listed securities. Following Admission,
the Treasury Shares and the Additional Shares will rank pari passu
in all respects with the existing ordinary shares.
On Admission, the Company's issued share capital will comprise
319,948,347 ordinary shares, none of which will be held in
treasury. Each ordinary share carries the right to one vote and,
therefore, the total number of voting rights in the Company on
Admission will be 319,948,347. This figure may be used by
shareholders and other investors 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 FCA's Disclosure and Transparency Rules.
Following the Issue, 12,893,758 New Shares remain available for
issue pursuant to the Tap Issue Programme.
For further information:
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Fidante Capital 020 7832 0900
Robert Peel
Justin Zawoda-Martin
Macquarie Capital (Europe)
Limited 020 3037 2000
Ken Fleming
Nick Stamp
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
MHP Communications 020 3128 8100
Andrew Leach / Jamie Ricketts / Gina Bell
Notes to Editors:
NextEnergy Solar Fund
NESF is a specialist investment company that invests in
operating solar power plants in the UK. Its 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.
NESF has raised equity proceeds of GBP327.6m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP242.1m in place
(Macquarie and Santander: GBP120m, MIDIS: GBP55.0m, Bayersiche
Landesbank: GBP44.9m and NIBC: GBP21.7m).
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, providing solar asset management, monitoring and other
services to over 1,250 utility-scale solar power plants with an
installed capacity in excess of 1.7 GW. NextPower II is NEC Group's
private equity fund with initial commitments of EUR150m, investing
in operating solar power plants and focused on consolidating the
substantial, highly fragmented Italian solar market.
Further information on NESF, NEC Group and WiseEnergy is
available at www.nextenergysolarfund.com, www.nextenergycapital.com
and www.wise-energy.eu.
Important Notices
Each of Cantor Fitzgerald, Fidante Capital, Macquarie Capital or
Shore Capital is authorised and regulated in the United Kingdom by
the FCA and acting as a joint bookrunner for the Company in
connection with the matters described in this Announcement. Persons
receiving this Announcement should note that none of Cantor
Fitzgerald, Fidante Capital, Macquarie Capital or Shore Capital
will be responsible to anyone other than the Company for providing
the protections afforded to customers of Cantor Fitzgerald, Fidante
Capital, Macquarie Capital or Shore Capital, or for advising any
other person on the arrangements described in this
Announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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