NextEnergy Solar Fund says no fee on preference share cash – NextEnergy Solar Fund is in the process of issuing preference shares – a story we reported on 16 October. NextEnergy Capital IM Limited has now agreed to waive a proportion of the investment management fee due to it, so that no investment management fee is payable by NextEnergy Solar Fund in respect of the part of the NAV that is attributable to its preference shares. However,….
….”in recognition of the considerable time and resource that NextEnergy Capital Limited and NextEnergy Capital IM Limited have devoted to developing and implementing an innovative and attractive new source of capital that materially improves the Company’s dividend cover and cash flow, the Company will pay NextEnergy Capital IM Limited a one-off arrangement fee of 0.5% of the value of each tranche of Preference Shares issued.”
A supplementary circular will shortly be despatched to shareholders to inform them of the amended proposals. The details of the EGM set out in the circular dated 16 October setting out the original proposals remain unchanged.
The amended proposals come following further consultation with shareholders.
NESF : NextEnergy Solar Fund says no fee on preference share cash