TIDMNESF
RNS Number : 4818J
NextEnergy Solar Fund Limited
09 September 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.
9 September 2016
NextEnergy Solar Fund Limited ("NESF" or the "Company")
Issue of Shares Pursuant to Tap Issuance Programme
-- GBP9.5m raised following seventh issue pursuant to Tap
Issuance Programme announced on 15 July 2016.
-- Seventh tap issue was significantly oversubscribed.
-- NESF has now utilised fully its ability to issue further
shares in the near future without first publishing a new prospectus
and obtaining the requisite shareholder approval.
-- Having regard to ongoing demand for its shares, its strong
pipeline of new investment opportunities and benefits to
shareholders of increasing its size through further share issues,
NESF is proposing to seek shareholder approval to establish,
pursuant to a prospectus, a new share issuance programme in respect
of new ordinary shares and/or C shares up to 350 million shares in
total.
In response to investor demand, the Board is pleased to announce
the issue of a further 9,215,926 New Shares at 103.25p per share
(the "Additional Shares") pursuant to the Tap Issuance Programme
announced on 15 July 2016 (the "Issue"). This is the seventh issue
under the Tap Issuance Programme.
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 such 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 15 September 2016.
Following Admission, the Additional Shares will rank pari passu in
all respects with the existing issued ordinary shares, save that
the New Shares will not be entitled to the interim dividend of
1.5775p per share for the quarter ended 30 June 2016, which was
declared on 15 August 2016 and is payable on 30 September 2016 to
shareholders on the register as at close of business on 26 August
2016.
Immediately following Admission, the Company's issued share
capital will comprise 342,058,031 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 342,058,031. 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 Guidance and Transparency
Rules.
The Issue was significantly oversubscribed. However, the Company
was unable to increase the size of the Issue as, following the
issue or sale from treasury of 64,100,926 New Shares pursuant to
the Tap Issuance Programme since it was announced on 15 July 2016
(including the New Shares to be issued pursuant to the Issue), the
Company has exhausted its ability to issue further ordinary shares
in the near future without first publishing a new prospectus. In
addition, the Company's existing shareholder authority to issue
shares on a non pre-emptive basis is limited. Accordingly, having
regard to the ongoing demand for the Company's shares, the
Company's strong pipeline of new investment opportunities and the
benefits to shareholders of increasing the size of the Company
through further share issues, the Company is proposing to
establish, pursuant to a prospectus, a new share issuance programme
in respect of up to 350 million new ordinary shares and/or C shares
(the "Share Issuance Programme"), and is therefore proposing to
seek shareholder approval to disapply pre-emption rights in respect
of issues pursuant to that Share Issuance Programme. Further
details of the Share Issuance Programme will be announced
shortly.
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 approximately GBP350m since
its initial public offering on the main market of the London Stock
Exchange in April 2014. It also has credit facilities of GBP242.5m
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 Notice
Each of Cantor Fitzgerald Europe, Fidante Capital, Macquarie
Capital and 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 matters described in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOELLMFTMBMMBJF
(END) Dow Jones Newswires
September 09, 2016 12:04 ET (16:04 GMT)
Nextenergy Solar (LSE:NESF)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Nextenergy Solar (LSE:NESF)
Historical Stock Chart
Von Jul 2023 bis Jul 2024