Foresight Solar Fund has announced the results of its placing of 28.2m treasury shares. Then placing, which was originally announced on 5 September 2016, was oversubscribed and £28.9m of gross proceeds have been raised. The fund says that a total of 28,152,143 Ordinary Shares will be sold out of Treasury at the Placing price of 102.5 pence and it is expected that settlement will take place on 13 September 2016. As this was a placing of treasury shares, the fund’s issued share capital remains the same. It comprises 309,955,375 ordinary shares, but with zero shares held in treasury. The funds’ chairman, Alex Ohlsson, says that the placing had support from both existing and new investors and that the proceeds will go towards taking advantage of the fund’s 200MW pipeline of UK solar assets.
Foresight Solar Fund raises £28.9m from sale of treasury shares : FSFL