NextEnergy Solar Fund Limited Update re. New Share Issuance Programme (8074N)
31 Outubro 2016 - 5:00AM
UK Regulatory
TIDMNESF
RNS Number : 8074N
NextEnergy Solar Fund Limited
31 October 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, 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.
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 IN
NOVEMBER 2016 IN CONNECTION WITH THE COMPANY'S SHARE ISSUANCE
PROGRAMME.
31 October 2016
NextEnergy Solar Fund Limited (the "Company")
Update re. New Share Issuance Programme
As previously announced, shareholders approved the
disapplication of pre-emption rights in respect of the Company's
proposed share issuance programme in respect of up to 350 million
New Ordinary Shares and/or C Shares (the "Share Issuance
Programme") at an extraordinary general meeting of the Company held
on 11 October 2016.
The Company is currently in negotiations regarding a pipeline of
c.560MW of short-term acquisition targets, of which c.130MW are
already the subject of letters of intent or in advanced
negotiations. The majority of the pipeline assets are either
already in operation and benefitting from Renewable Obligation
Certificates ("ROC") 1.3 support banding or pre-construction which
are expected to qualify under the ROC 1.2 support banding before
the ROC support for newly-constructed assets terminates on 31 March
2017. Accordingly, there is a significant opportunity to deploy
additional funds with favourable returns given prevailing market
conditions.
Given the favourable market backdrop and strong pipeline, and in
response to continuing investor demand, the Directors expect,
subject to market conditions, to publish the prospectus relating to
the Share Issuance Programme (the "Prospectus"), and to announce an
initial placing and offer for subscription of new shares pursuant
to the Share Issuance Programme (the "Initial Issue"), in November
2016. It is expected that the new shares issued pursuant to the
Initial Issue will be admitted to the Official List, and that
dealings in such shares on the London Stock Exchange's main market
for listed securities will commence, in November 2016.
The Directors are pleased to announce that the Company has
already received confirmation from an institutional investor of its
firm intention to subscribe for new shares with an aggregate issue
value of GBP55 million pursuant to the Initial Issue.
A further announcement regarding the publication of the
Prospectus and providing full details of the Initial Issue will be
made in due course.
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 GBP210.1m
in place (Macquarie and Santander: GBP88.5m, 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 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, Fidante Capital, Macquarie
Capital and 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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