Source - GNW

Result of EGM, Net Asset Value and Dividend Announcement

Result of EGM

Foresight Solar Fund Limited (the "Company") is pleased to announce that at the EGM held at 12 p.m. on Tuesday 18 October 2016, the Resolution was duly passed without amendment.

In accordance with LR 9.6.18, details of the Special Resolution passed follow:

  In favour
(including discretionary)
Against Votes Withheld*
Resolution Votes % Votes % Votes
1 187,556,887 99.98 38,400 0.02 0

*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.

The full wording of this resolution can be found below:

Resolution 1

THAT the directors of the Company be and are hereby generally empowered to allot ordinary shares of no par value in the capital of the Company (the "Ordinary Shares") carrying the rights, privileges and subject to the restrictions attached to the Ordinary Shares as set out in the articles of association of the Company or to grant rights to subscribe for or, to convert securities into Ordinary Shares ("equity securities"), for cash including by way of a sale of Ordinary Shares held by the Company as treasury shares, as if any pre-emption rights in relation to the issue of shares, as set out in Article 10(B) of the articles of association of the Company and in the Listing Rules made by the Financial Conduct Authority under Part VI of the Financial Services and Markets Act 2000 (as amended), did not apply to any such allotment of or grant of rights to subscribe for or to convert into equity securities, provided that this power:

  1. shall expire at the conclusion of the Company's next annual general meeting or on the date falling 15 months after the passing of this resolution, whichever is earlier, save that the Company may, before such expiry, make an offer or agreement which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of any such offer or agreement as if the power conferred hereby had not expired; and
  2. shall be limited to the allotment of up to 30,995,537 Ordinary Shares (being approximately 10 per cent. of the issued share capital of the Company as at 30 September 2016).

Net Asset Value

The Company announces that as at 30 September 2016, the unaudited Net Asset Value ("NAV") per Ordinary Share was 100.7 pence (30 June 2016: 99.3 pence). The increase in NAV is mainly attributable to a combination of an upward adjustment in the Company's power curve, a change in Business Rate assumptions following a review by the Valuation Office Agency in September 2016 and ongoing portfolio optimisation measures implemented by the Investment Manager.

Dividend Announcement

The Company is also pleased to announced that the third Quarterly dividend of 1.54 pence per share was approved by the Directors and will be paid on the 30 December 2016. The Company remains on target to deliver a dividend of 6.17 pence per share for the financial year ended 31 December 2016.

Dividend Timetable

Ex-dividend Date 15 December 2016
Record Date 16 December 2016
Payment Date 30 December 2016

For further information, please contact:

Foresight Group

Elena Palasmith                [email protected]                 +44 (0)20 3667 8100

Stifel Nicolaus Europe Limited                           +44 (0)20 7710 7600

Mark Bloomfield

Neil Winward

Tunga Chigovanyika

J.P. Morgan Cazenove                       +44 (0)20 7742 4000

William Simmonds

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Foresight Solar Fund Limited via Globenewswire

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