TIDMNESF
RNS Number : 2482P
NextEnergy Solar Fund Limited
15 November 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 AND THE
NETHERLANDS) 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, BE RELIED ON INTO IN CONNECTION
WITH OR ACT AS AN INDUCEMENT TO ENTER INTO ANY CONTRACT, COMMITMENT
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.
THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS.
INVESTORS SHOULD NOT PURCHASE OR SUBSCRIBE FOR ANY SECURITIES
REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION
CONTAINED IN A PROSPECTUS TO BE PUBLISHED BY THE COMPANY TODAY IN
CONNECTION WITH THE COMPANY'S SHARE ISSUANCE PROGRAMME.
15 November 2016
NextEnergy Solar Fund Limited ("NESF" or the "Company")
Publication of Prospectus
Further to the Company's announcement on 11 November 2016
providing details of the Company's share issuance programme to
issue up to 350,000,000 new ordinary shares and/or C shares over
the next 12 months (the "Share Issuance Programme") and the initial
placing and offer for subscription of up to 100,000,000 new
ordinary shares at 104.5p per ordinary share (the "Initial Issue"),
the Directors are pleased to announce the publication today of the
prospectus relating to the Share Issuance Programme and the Initial
Issue (the "Prospectus").
The Prospectus has been approved by the UK Listing Authority and
will shortly be available on the Company's website at
www.nextenergysolarfund.com and on the National Storage Mechanism
at www.morningstar.co.uk/uk/NSM.
The expected timetable for the Initial Issue is as follows*:
Initial Placing and Initial Offer
for Subscription open 15 November 2016
Latest time and date for receipt
of completed Offer Application
Forms and payment in full under 11.00 a.m. on
Initial Offer for Subscription 18 November 2016
Latest time and date for receipt 3.00 p.m. on
of commitments under Initial Placing 18 November 2016
Result of Initial Issue announced 21 November 2016
Admission and commencement of dealings
in New Ordinary Shares issued pursuant 8.00 a.m. on
to Initial Issue 25 November 2016
CREST accounts credited in respect
of New Ordinary Shares issued in
Uncertificated Form pursuant to
Initial Issue 25 November 2016
Definitive share certificates for
New Ordinary Shares issued in certificated
form pursuant to Initial Issue Week commencing
despatched 12 December 2016
*The dates and times specified above are references to London
times and are subject to change, in which event details of the new
times and dates will be notified, as required, through an RIS.
Applications will be made for the New Ordinary Shares issued
pursuant to the Initial Issue to be admitted to listing on the
premium segment of the Official List and to trading on the London
Stock Exchange's main market for listed securities. As noted above,
it is expected that such admissions will become effective and that
dealings in such shares will commence on 25 November 2016.
The Directors may, in consultation with NESF's investment
manager and with the agreement of the joint bookrunners (Cantor
Fitzgerald, Fidante, Macquarie and Shore Capital), increase the
size of the Initial Issue, subject to investor demand.
Words and expressions defined in the Prospectus have the same
meanings when used in this announcement unless the context requires
otherwise.
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
Nick Stamp
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
MHP Communications 020 3128 8100
Andrew Leach / Jamie Ricketts / Rebecca Emery
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 GBP210.0m
in place (Macquarie and Santander: GBP88.5m, of which GBP43.0m is
drawn; MIDIS: GBP55.0m; Bayerische Landesbank: GBP44.9m; NIBC:
GBP21.7m).
NESF is differentiated by its access to NextEnergy Capital Group
(NEC Group), its investment manager and adviser, 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 1.7GW. 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 ("Cantor Fitzgerald), Fidante
Partners (Europe) Limited ("Fidante"), Macquarie Capital (Europe)
Limited ("Macquarie Capital") and Shore Capital and Corporate
Limited ("Shore Capital") is authorised and regulated in the United
Kingdom by the FCA and acting only for the Company in connection
with the matters described in this announcement. Persons receiving
this announcement should note that none of Cantor Fitzgerald
Europe, 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 Europe,
Fidante Capital, Macquarie Capital or Shore Capital, or for
advising any other person on the matters described in this
announcement.
The contents of this announcement, which has been prepared by
and is the sole responsibility of the Company, have been approved
by NextEnergy Capital Limited (authorised and regulated by the
Financial Conduct Authority) for the purposes of section 21(2)(b)
of the Financial Services and Markets Act 2000.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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