Placing Programme Update

RNS Number : 6003W

NextEnergy Solar Fund Limited

10 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NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME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.

ANY INVESTMENT DECISION MUST BE MADE EXCLUSIVELY ON THE BASIS OF THE PROSPECTUS EXPECTED TO BE PUBLISHED BY THE COMPANY (AND ANY SUPPLEMENT THERETO).

10 November 2014

NextEnergy Solar Fund Limited ("NESF")

Placing Programme Up-date

Further to its announcement on 5 November 2014 regarding an initial placing and an offer for subscription of New Ordinary Shares, NESF now expects to publish the Prospectus relating to the Placing Programme later today.  All other dates remain unchanged.  Accordingly, the timetable for the Placing Programme, the initial placing and the offer for subscription is expected to be as follows:

Prospectus published	Monday, 10 November 2014
Placing Programme opens	Monday, 10 November 2014
Offer for subscription opens	Monday, 10 November 2014
Initial placing opens	Monday, 10 November 2014
Latest time for receipt of applications under offer for subscription in order to be eligible for allotment of New Ordinary Shares on Thursday, 13 November 2014	1.00 p.m. on Wednesday, 12 November 2014
Initial placing closes	4.00 p.m. on Wednesday, 12 November 2014
Result of Initial Issue announced	Thursday, 13 November 2014
New Ordinary Shares issued pursuant to Initial Issue admitted to Official List of FCA and dealings commence in such shares on London Stock Exchange's main market	8.00 a.m. on Wednesday, 19 November 2014
CREST accounts credited in respect of New Ordinary Shares issued pursuant to Initial Issue in uncertificated form	Wednesday, 19 November 2014
Share certificates despatched in respect of New Ordinary Shares issued pursuant to Initial Issue in certificated form	By Wednesday, 3 December 2014
Placing Programme (including offer for subscription) closes	Monday, 9 November 2015

Notes:

1.         The Placing Programme will comprise of one or more placings of up to (in aggregate) 200 million New Ordinary Shares and/or C Shares and an offer for subscription of up to 50 million New Ordinary Shares and will be implemented in accordance with the terms, conditions and other information to be set out in the Prospectus.

2.         In this announcement, the "Initial Issue" means an initial placing of New Ordinary Shares and an initial allotment of New Ordinary Shares pursuant to the offer for subscription.

A further announcement will be made upon publication of the Prospectus.

Terms defined in the shareholder circular dated 9 October 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.

This announcement has been issued by and is the sole responsibility of NESF.  No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by, Cantor Fitzgerald Europe, Macquarie Capital (Europe) Limited, Shore Capital and Corporate Limited, Shore Capital Stockbrokers Limited or any of their respective affiliates or agents as to or in relation to the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or their advisers and any liability therefor is expressly disclaimed.

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.

 

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