NESF Nextenergy Solar Fund Limited

TIDMNESF

RNS Number : 0038R

NextEnergy Solar Fund Limited

25 June 2020

NextEnergy Solar Fund Limited

("NESF" or the "Company")

SCRIP DIVIDEND SHARES - ADDITIONAL LISTING

The NESF Board wishes to confirm the following in respect of the scrip dividend:

 
 Dividend period:                      1 January 2020 to 31 March 
                                        2020 
 Dividend amount per share:            1.7175 pence 
 Scrip dividend price per share:       107.84 pence 
 Payment date/Allotment of scrip:      30 June 2020 
 Number of new shares to be issued:    729,115 
 

Application has been made to the London Stock Exchange for 729,115 ordinary shares to be admitted to trading. These ordinary shares are to be issued as a scrip dividend alternative to receiving a cash dividend in respect of the dividend for the fourth quarter of the Company's 2019/20 financial year. Dealings are expected to commence at 8:00 a.m. on 30 June 2020.

Immediately following Admission, the Company's issued share capital will comprise 584,935,046 ordinary shares, none of which will be held in treasury. Each ordinary share carries the right to one vote and, therefore, the total number of voting rights in the Company on Admission will be 584,935,046. This figure may be used by shareholders and other investors as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information:

 
 NextEnergy Capital Limited          020 3746 0700 
 Michael Bonte-Friedheim 
 Aldo Beolchini 
 
 Cenkos Securities Plc               020 7397 8900 
 Justin Zawoda-Martin 
  Robert Naylor 
  William Talkington 
 
 Shore Capital                       020 7408 4090 
 Anita Ghanekar 
  Darren Vickers 
 
 MHP Communications                  020 3128 8100 
 Oliver Hughes 
 Apex Fund and Corporate Services 
  (Guernsey) Limited                 01481 735 827 
 Nick Robilliard 
 

Notes to Editors ([i]) :

A constituent of the FTSE 250 Index, NextEnergy Solar Fund ("NESF") is a renewable energy infrastructure investment company that invests primarily in operating solar power plants in the UK (it may invest up to 15% of its gross assets in other OECD countries). The Company is committed to ESG principles and responsible investment and makes a meaningful contribution to reducing CO2e emissions through the generation of clean solar power. NESF has been designated a Guernsey Green Fund by the Guernsey Financial Services Commission and has been awarded the London Stock Exchange's Green Economy Mark.

NESF has a diversified portfolio comprising 90 operating solar assets, primarily on agricultural, industrial and commercial sites, with a combined installed power capacity in excess of 755MW. As at 31 March 2020, the Company has gross assets of GBP991 million, of which 89% is invested in the UK, and net assets of GBP579 million. The majority of long-term cash flows from its investments are inflation-linked.

NESF's investment objective is to provide ordinary shareholders with a sustainable and attractive dividend that increases in line with RPI over the long term, while delivering an element of capital growth through reinvesting net cash generated in excess of the target dividend. The dividend is payable quarterly and the Company has announced a total dividend for the year to 31 March 2020 of 6.87p per ordinary share.

NESF is differentiated by its access to NextEnergy Capital Group ("NEC Group"), its Investment Manager, which has a strong track record in sourcing, acquiring and managing operating solar assets. WiseEnergy is NEC Group's specialist operating asset management division, which since its founding has provided operating asset management, monitoring, technical due diligence and other services to over 1,500 utility-scale solar power plants with an installed capacity in excess of 1.7 GW.

Further information on NESF, NEC Group and WiseEnergy is available at nextenergysolarfund.com , nextenergycapital.com and wise-energy.eu .

([1]) Note: All data is unaudited as at 31 March 2020, being the latest date in respect of which NESF has published financial information.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 25, 2020 02:00 ET (06:00 GMT)

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