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I received the following this afternoon;
'The Solar and Technology VCTs which you hold shares in has now sold, please see the RNS below. .
https://www.londonstockexchange.com/news-article/FTSV/sale-of-ordinary-shares-portfolio/15783700
There is approximately 140p return per ordinary share. This will be paid via special dividend on the 22nd of March. This means that should you wish to re-invest the proceeds into the FWT share class, you are able to.
Reinvestment into another Foresight managed tax-efficient product will benefit from a 0% Initial fee, should you reinvest by the end of May 2023.
The exit proceeds are due to be paid to you via a special dividend on 22 March 2023 to your nominated bank account. If you would like to reinvest before the end of the 2022/2023 tax year, we encourage you to submit your application ASAP (with payment to follow) as we anticipate higher volumes than usual with Tax Year End fast approaching.
If you have any further questions regarding this, please contact the Investor Relations Team on 020 3667 8181 or at investorrelations@foresightgroup.eu
Should you require any further information please do not hesitate to contact me.'
Yes, let's just wait for the next payment then. Hope that they won't keep us waiting for too long.
Ok, it's unclear as to how it will work and breakdowns, a bit more detail would have been nice from them, but what Andy posted confirms that more is to follow.
Yes, I don't understand, better to just sit on it.
Someone just sold for £18.75! Probably got about £5 after commission and charges. Why not let it be and wait for it to recover or wait for the rest of the dividend, lol?
Here is the extract from the last RNS:
"Completion of the Sale of Ordinary Shares portfolio
Foresight Solar & Technology VCT plc (“the Fund”) is pleased to announce completion of the sale of its portfolio of solar assets held in the Ordinary Share class (the “sale”), generating gross proceeds of over £100m.
The final sale price has delivered a strong return to shareholders in the Fund of approximately 140p per Ordinary share compared to the last reported Net Asset Value of 131.2p per share as at 30 September 2022 and reflects Foresight’s capabilities in asset management optimization. The total return to investors is approximately 185p."
No. this is as clear as mud. I couldn't find the dividend declaration RNS on here either. It did mention about this 185p total return to shareholders in the latest RNS though.
Yes I bought a few.
It's the record date for payment today which is different to the actual payment date.
I'm a bit confused by the 185p figure, it's not clear whether that is coming further down the line.
'A circular seeking to reorganise the share capital, which is expected to facilitate a further distribution, will be sent to shareholders in due course.' - So this will confirm the 53p and hopefully what will happen with the FTSV shares, IDK whether they'll wind it up or amalgamate it into one of the other funds?
Yes, it says total return to shareholders will be 185p. So, there is still 53p to come yet. Let's hope we don't have to wait for too long.
And the pay day for this dividend will be March 22, not 10.
DIVIDEND DECLARATION – ORDINARY SHARES
Further to recent communications with shareholders and following the successful sale of its portfolio of solar assets held in the Ordinary Share class, the Board of Foresight Solar & Technology VCT plc is pleased to declare a special interim dividend of 132.0p per Ordinary Share, which will be paid on 22 March 2023.
The shares will be quoted ex-dividend on 9 March 2023 and the record date for payment will be 10 March 2023.
This special interim dividend represents the majority of proceeds received from the sale, with an amount held back temporarily to retain the listing of the Ordinary Share class on the London Stock Exchange. A circular seeking to reorganise the share capital, which is expected to facilitate a further distribution, will be sent to shareholders in due course.
Did you buy any shares?
Ok, so it did fall off a cliff... I've emailed Foresight and asked what their plans are going forwards.
This is stupid now. I can only sell the shares for half a pence each after it has gone ex-dividend, lol.
I have checked with HL and it's true. they got the figure showing 132p special dividend. It also says on this page that the ex-dividend date will be tomorrow, pay day on March 22. So, I have just bought 1k shares hoping that the SP will not fall more than 132p tomorrow, lol.
I stumbled across this yesterday and wondered the same, surely the SP isn't going to fall off a cliff on Friday, but has a whiff of too good to be true
It's going ex-dividend tomorrow. Is it real?
About to have an upwards tick:)
Showing as sells...
MIDAS SHARE TIPS EXTRA: New British solar energy fund has chance to shine as Government expects solar to play a growing role in electricity production To many, the idea of solar power in Britain sounds ludicrous, especially as winter nears. But solar energy relies on light rather than heat and the UK has more than enough of that, particularly in the South. The cost of plants has also fallen and the Government expects solar energy to play a growing role in the electricity sector. Solar panels turn light into energy Bright future: Solar panels turn light into energy Foresight Solar Fund intends to tap into this trend and is also scheduled to float this month. Shares will be offered at 100p and a dividend of 6p is planned, rising in line with inflation. The £200 million flotation is similar to recent wind fund offerings, but solar energy is more predictable and the plants tend to attract less opposition. For investors seeking long-term income, the shares are a good bet. Foresight is an investment firm that has been involved in green energy and other infrastructure projects for almost 30 years. http://www.thisismoney.co.uk/money/investing/article-2445771/MIDAS-SHARE-TIPS-Foresight-Solar-Fund-scheduled-float-month.html
Adding this to my watch list as it may one of those share that need a couple of days for it to sink in Good posting global
FTSV is receiving a very warm welcome:) http://www.thisismoney.co.uk/money/investing/article-2471487/Five-funds-invest-solar-wind-renewable-energy.html?ito=feeds-newsxml
Did you take a close look at the Rns and the links I've posted? In my opinion, It was an excellent Rns! They're a great read! Also, there are so few shares on offer and she could easily move... As Always... DYOR!
are they like the windmills that fell down in the wind yesterday ?
Are so few shares on offer... Could this be the dark horse of the day?:)
FORESIGHT SOLAR VCT PLC Summary -- Net asset value total return per Ordinary Share in the year to 30 June 2013 increased by 22.2%, representing an uplift in net asset value to 115.7p (30 June 2012: 98.8p) and total dividend payments in the year of 5.0p per Ordinary Share. -- In line with original expectations, interim dividends of 2.5p per Ordinary Share were paid to shareholders on 31 October 2012 and 12 April 2013, making 5.0p per Ordinary Share for the year. -- Bond refinancing completed on 2 May 2013, increasing target returns per Ordinary Share from 130p towards 150p. -- Two small further investments of GBP325,878 into Greenersite Limited and GBP6,820 into Foresight Luxembourg Solar 2 S.â.r.l were made during the year and a loan repayment of GBP410,505 was received from Foresight VCT (Lux) 1 S.â.r.l. -- The Ordinary Shares fund is considered fully invested and therefore the Board launched a C Shares fund in February 2013 to take advantage of new solar photovoltaic investment opportunities benefiting from the Renewable Obligation Certificate (ROC) regime (as opposed to the Feed-in-Tariff (FiT) scheme that benefited investments in the Ordinary Shares fund). As at 30 June 2013, a total of 5,731,693 C Shares had been issued based on an issue price of 100p per C Share. Ordinary Shares Fund Year ended Year ended 30 June 2013 30 June 2012 Net asset value per share 115.7p 98.8p Revenue return per share 4.8p 0.1p Capital return per share 17.7p 5.1p Total Dividends per share 5.0p - Total return per share 22.5p 5.2p Share price per share 99.0p 93.0p C Shares Fund Year ended Year ended 30 June 2013 30 June 2012 Net asset value per share 99.4p n/a Revenue return per share (0.4)p n/a Capital return per share (0.3)p n/a Total Dividends per share - n/a Total return per share (0.7)p n/a Share price per share 100.0p n/a Chairman's Statement Results I am pleased to be able to report on a period of robust performance from the Company's portfolio of solar investments. A combination of the solar plants performing in line with or better than original expectations and the bond refinancing has resulted in a 22.2% increase, after including dividends paid in the year, in net asset value to 115.7p at 30 June 2013 from 98.8p at 30 June 2012. All of the investments are more fully described in the Investment Manager's Report. Bon
http://www.businessgreen.com/bg/news/2293036/foresight-solar-fund-seeks-gbp200m-ipo "Solar power has been the biggest source of new electricity generation for the past two years in Europe," said Jamie Richards, Partner of Foresight Group, in a statement. "This year the UK is seeing a significant increase in installed capacity of utility scale solar PV power plants based on government support in the form of the Renewable Obligation Certificate (ROC) regime, which provides a stable 20 year revenue stream that increases in line with RPI. "The ROC regime combined with recent significant reductions in the cost of solar equipment provides a timely opportunity to launch this company coinciding with the new capacity coming on stream." His comments were echoed by Alex Ohlsson, Non-Executive Chairman for Foresight Solar Fund, who said solar farms represented an increasingly attractive investment. "The Foresight Solar Fund gives investors the opportunity to secure a sustainable and increasing yield in a listed fund managed by a highly experienced team with proven expertise in solar investment," he said. "We are targeting an initial annual dividend of 6p which we currently intend to increase in line with inflation as well as provide investors with the potential for capital growth."