Foresight Solar Fund Limited : Notice of General Meeting

Foresight Solar Fund Limited: Notice of General Meeting

The Company has today published a circular and notice of a general meeting to be held at 12.00 p.m. on 18 October 2016 at Elizabeth House, 9 Castle Street, St. Helier, Jersey JE2 3RT (the "General Meeting") to consider proposals to renew the authority to issue a limited number of new ordinary shares on a non pre-emptive basis (the "Proposals").

Introduction and Background

The Directors were granted general authority to allot shares in the Company, without first offering them to existing Shareholders in proportion to their holdings, up to the amount of 28,180,232 ordinary shares (being approximately 10 per cent. of the issued share capital of the Company as at 24 March 2016) at the Company's annual general meeting on 25 April 2016. The Company used this authority to reissue 28,152,143 ordinary shares held in treasury at the price of 102.5 pence per share on 9 September 2016 (the "Placing"). The Company was pleased with the support it received from new and existing investors and the Placing was oversubscribed. However, following the Placing, the Company does not have any authority remaining to issue any further shares on a non pre-emptive basis.

The Company's Investment Manager is continuing to identify suitable investment opportunities and has an attractive 200 MW pipeline of UK solar assets which will support the growth of the Company over the next 12 months. Therefore, to allow the Board to be able to continue to raise funds in order to take advantage of this pipeline, it is proposed to renew the authority to issue a limited number of new ordinary shares on a non pre-emptive basis. It is therefore proposed to seek authority to issue, on a non pre-emptive basis, up to 30,995,537 ordinary shares which represents 10 per cent. of the Company's issued share capital as at 30 September 2016 (the latest practicable date prior to the publication of this document). The Proposals, if approved, will therefore enable the Board to satisfy demand from investors, following the oversubscribed Placing, and take advantage of the further investment opportunities as and when they become available.

If such authority is granted by Shareholders at the General Meeting, the Directors will only use that authority to issue shares at a premium to the net asset value per share. This authority, if granted, will expire at the conclusion of the Company's next annual general meeting or on the date falling 15 months after the date that the resolution is passed, whichever is earlier.

The circular and notice of the General Meeting (the "Circular") have been dispatched to all Shareholders.

An electronic copy of the Circular is also available on the Company's website

A copy of the Circular can be inspected at the National Storage Mechanism website at .

For further information, please contact:

Foresight Group

Elena Palasmith                                 +44 (0)20 3667 8100

Stifel Nicolaus Europe Limited (Joint Bookrunner)                                         +44 (0)20 7710 7600

Mark Bloomfield

Neil Winward

Tunga Chigovanyika

J.P. Morgan Cazenove (Joint Bookrunner)                                                          +44 (0)20 7742 4000

William Simmonds


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Foresight Solar Fund Limited via GlobeNewswire