US Solar Fund (USF) has provided an update on its previously announced strategic review.
Having reviewed the available options as part of this strategic review, the company considered proposals in relation to: (i) a sale of its portfolio of assets and return of funds to shareholders; (ii) a sale of the entire issued, and to be issued, share capital of the company; and (iii) a change of the investment management arrangements of the company.
The board did not receive, and does not expect to receive, any formal asset sale or Plc sale proposals which it considers to be in the best interests of its shareholders. As a result, the board considers that, at this stage, a change of the investment management arrangements and the appointment of Amber, as previously announced, remains the best available option.
The board recommends that all shareholders vote in favour of the resolution, as the directors intend to do in respect of their own beneficial holdings of shares, including shares held by persons closely associated with them, which, in aggregate, amount to 171,429 shares, representing approximately 0.05 per cent. of the total voting rights in the company.
USF : USF provides update on strategic review