Foresight Solar Fund has announced a proposed placing of up to 28,152,143 of its ordinary shares, which it currently holds in treasury. The company says that its manager has identified an attractive 200MW pipeline of assets which will support the growth of the Company over the next 12 months and that the net proceeds of the Placing will enable the Company to take advantage of these and other investment opportunities as and when they become available.
The company says that the placing price of 102.5p per share is equal to the NAV per ordinary share as at 30 June 2016 plus an estimate of accrued income attributable to the Company since 30 June 2016 and a premium to cover placing costs. The treasury shares sold under the placing will carry an entitlement to the second quarterly dividend of 1.54p per share, which will be paid on 30 September 2016. The placing opens on Monday 5 September 2016 and its results are expected to be announced on Friday 9 September 2016.
Foresight Solar announces proposed placing of 28.2m treasury shares : FSFL