TIDMNESF
RNS Number : 9021W
NextEnergy Solar Fund Limited
13 November 2014
NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN, OR INTO THE UNITED STATES, CANADA, AUSTRALIA,
JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE
UNLAWFUL OR TO U.S. PERSONS (WITHIN THE MEANING OF REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED).
THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE
CONSTRUED AS, ANY OFFER FOR SALE OR SUBSCRIPTION OF, OR
SOLICITATION OF ANY OFFER TO BUY OR SUBSCRIBE FOR, ANY SHARES IN
NEXTENERGY SOLAR FUND LIMITED IN ANY JURISDICTION, INCLUDING THE
UNITED STATES, 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 OR INVESTMENT DECISION WHATSOEVER, IN ANY
JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE A
RECOMMENDATION REGARDING ANY SECURITIES.
13 November 2014
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Result of Initial Placing and Initial Allotment of New Shares
Pursuant to the Offer
(the "Initial Issue")
Further to its announcement on 10 November 2014 that the Initial
Issue was open for applications, the Company is pleased to report
that it has received commitments under the Initial Placing for
85,316,434 New Ordinary Shares and applications under the Offer for
a further 5,683,566 New Ordinary Shares.
Accordingly, the Company has received demand, pursuant to the
Initial Issue, for 91,000,000 New Ordinary Shares in total from
both existing and new shareholders. The Company indicated, on 9
October 2014, that it was targeting an initial issue of 75,000,000
New Shares pursuant to its Placing Programme. In view of the scale
of its pipeline of potential investments, the Company has decided
not to scale back any applications for New Shares pursuant to the
Initial Issue and, accordingly, all applications will be met in
full, raising GBP95.5 million (before expenses) for the
Company.
Applications have been made to the Financial Conduct Authority
for the New Ordinary Shares to be admitted to the premium segment
of the Official List and to the London Stock Exchange for New
Ordinary Shares to be admitted to trading on its main market for
listed securities. Admission is expected to become effective, and
dealings in the New Ordinary Shares are expected to commence, at
8.00 a.m. on 19 November 2014. Following Admission, the New Shares
will rank pari passu in all respects with the existing Ordinary
Shares.
On Admission, the Company's issued share capital will comprise
176,600,000 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 176,600,000. 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.
Commenting on the fundraising, Kevin Lyon, Chairman, said:
"We are particularly pleased to announce such a successful
capital increase. We have more than doubled the number of shares in
issue, underlining investors' support for the Company. Existing and
new shareholders have contributed to the fundraise, broadening the
shareholder base significantly. We believe this support bodes well
for the further growth of the Company.
NESF has successfully achieved the objectives set out at its
formation. With the pipeline of investment opportunities secured by
the Manager and the proceeds of this fundraising in place, we look
forward to updating shareholders on further progress in the near
future."
Terms defined in the Prospectus dated 10 November 2014 have the
same meanings when used in this announcement.
For further information:
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe (Financial Adviser
and Joint Lead Bookrunner) 020 7894 7667
Sue Inglis (Corporate Finance)
Andrew Worne / Andrew Davey / Tom Dixon (Sales)
Shore Capital (Sponsor and Joint Bookrunner) 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Patrick Castle
Macquarie Capital (Europe) Limited (Joint Lead
Bookrunner) 020 3037 2000
Ken Fleming
MHP Communications 020 3128 8100
Rupert Trefgarne
Jamie Ricketts
Important Notes:
Cantor Fitzgerald Europe, which is authorised and regulated in
the United Kingdom by the FCA, is acting exclusively for NESF in
connection with issue of New Shares pursuant to the Placing
Programme and Admission and will not be responsible to anyone other
than NESF for providing the protections afforded to clients of
Cantor Fitzgerald Europe or for advising any such person in
connection with the Placing Programme. This does not limit or
exclude any responsibilities which Cantor Fitzgerald Europe may
have under FSMA or the regulatory regime established
thereunder.
Macquarie Capital (Europe) Limited, which is authorised and
regulated in the United Kingdom by the FCA, is acting exclusively
for NESF in connection with issue of New Shares pursuant to the
Placing Programme and Admission and will not be responsible to
anyone other than NESF for providing the protections afforded to
clients of Macquarie Capital (Europe) Limited or for advising any
such person in connection with the Placing Programme. This does not
limit or exclude any responsibilities which Macquarie Capital
(Europe) Limited may have under FSMA or the regulatory regime
established thereunder.
Shore Capital and Corporate Limited, which is authorised and
regulated in the United Kingdom by the FCA, is acting exclusively
for NESF in connection with issue of New Shares pursuant to the
Placing Programme and Admission and will not be responsible to
anyone other than NESF for providing the protections afforded to
clients of Shore Capital and Corporate Limited or for advising any
such person in connection with the Placing Programme. This does not
limit or exclude any responsibilities which Shore Capital and
Corporate Limited may have under FSMA or the regulatory regime
established thereunder.
Shore Capital Stockbrokers Limited, which is authorised and
regulated in the United Kingdom by the FCA, is acting exclusively
for NESF in connection with issue of New Shares pursuant to the
Placing Programme and Admission and will not be responsible to
anyone other than NESF for providing the protections afforded to
clients of Shore Capital Stockbrokers Limited or for advising any
such person in connection with the Placing Programme. This does not
limit or exclude any responsibilities which Shore Capital
Stockbrokers Limited may have under FSMA or the regulatory regime
established thereunder.
Notes to Editors:
NextEnergy Solar Fund
NextEnergy Solar Fund (www.nextenergysolarfund.com) is a
specialist investment fund focused on operational solar
photovoltaic ("PV") assets located in the UK. The Company intends
to provide investors with a sustainable and attractive dividend
that increases in line with RPI over the long term and an element
of capital growth through the re-investment of net cash generated
in excess of the target dividend.
Further information on NextEnergy Capital and WiseEnergy is
available at www.nextenergycapital.com and www.wise-energy.eu.
This information is provided by RNS
The company news service from the London Stock Exchange
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