Bluefield Solar Regulatory News (BSIF)

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR TO U.S. PERSONS.

Bluefield Solar Income Fund Limited

21 February 2014

Results of placing

Further to the announcement dated 19 February 2014 the Board of Bluefield Solar Income Fund Limited (the "Company") is pleased to announce the successful placing of new ordinary shares.

A total of 13,028,999 new ordinary shares (the "Placing Shares") have been placed, subject to Admission and on the other terms and conditions set out in the Appendix to the announcement made on 19 February 2014, by Numis Securities Limited ("Numis") at a price of 101p per share, raising gross proceeds of approximately £13.2 million. The Placing Shares represent approximately 9.99% of the issued ordinary share capital of the Company prior to the Placing. The placing was over-subscribed.

The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company. This includes the right to receive all dividends and other distributions declared or paid in respect of such ordinary shares after the date of Admission of the Placing Shares.

For the avoidance of doubt the Placing Shares noted above are expected to be issued on 3 March 2014 and will therefore not be entitled to this first interim dividend payable to shareholders on the register as at 28 February 2014.

Application has been made for the Placing Shares to be admitted to the premium segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the main market for listed securities of the London Stock Exchange (together, "Admission"). It is expected that Admission will take place at 8.00am on 3 March 2014 (or such later date as may be agreed between the Company and Numis).

Following Admission, the number of ordinary shares that the Company has in issue will be 143,318,999. The total number of voting rights of the Company will be 143,318,999 and this figure may be used by shareholders 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 Disclosure and Transparency Rules.

Capitalised terms used but not defined in this announcement have the same meanings as set out in the placing announcement of the Company released at 7.00am on 19 February 2014.

John Rennocks, Chairman of Company, commented..."This successful, and over-subscribed, placing confirms the growing market appetite for the Company's proposition. The faith investors showed in the Company just over six months ago is being repaid by the Company fully deploying the IPO proceeds, buying high quality assets at attractive prices and agreeing contracted cashflows to deliver against its dividend targets. The Board expects the Company to build on this solid base and see significant growth throughout 2014".

Enquiries:

James Armstrong / Mike Rand / Giovanni Terranova

Bluefield Partners LLP - Company Investment Adviser

Tel: +44 (0)20 7078 0020

Tod Davis / David Benda

Numis Securities Limited - Company Broker

Tel: +44 (0)20 7260 1000

Kevin Smith

Heritage International Fund Managers Limited - Company Secretary & Administrator

Tel: +44 (0)1481716000

Note to editors

About Bluefield Solar Income Fund Limited (the "Company" or "BSIF")

BSIF is a Guernsey-registered investment company focusing on large scale agricultural and industrial solar assets. The Company raised gross proceeds of £130 million in July 2013 through an initial public offering ("IPO") of shares on the main market of the London Stock Exchange. It raised further capital via a tap issue in February.

The Company seeks to provide shareholders with an attractive return, principally in the form of semi-annual income distributions, by investing in a diversified portfolio of solar energy assets, each located within the UK, with a focus on utility scale assets and portfolios on greenfield, industrial and/or commercial sites.

About Bluefield Partners LLP ("Bluefield")

Bluefield was established in 2009 and is a specialist investment adviser to funds and companies investing in solar energy infrastructure. Bluefield's team has a proven track record in the selection, acquisition and management of large scale energy and infrastructure assets in the UK and Europe.

The managing partners have been involved in over £350m of solar photovoltaic ("PV") funds and/or transactions in both the UK and Europe since 2008, including over £170m in the UK since December 2011. Bluefield has led the acquisitions, and currently advises, on over 50 UK based solar assets.

Bluefield was appointed Investment Adviser to the Company in June 2013.

Neither the content of the Company's website nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into or forms part of this Announcement nor, unless previously published by means of a Regulatory Information Service, should any such content be relied upon in reaching a decision as to whether or not to compare, continue to hold, or dispose of, securities in the Company.

This Announcement is for information only and does not contain or constitute an offer of, or the solicitation of an offer to buy, securities in the United States, Canada, Australia, Japan, the Republic of South Africa, any member of the EEA other than the United Kingdom or any jurisdiction in which the same would be unlawful.

The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "US Securities Act"), under the securities legislation of any state of the United States or under the applicable securities laws of Canada, Australia, Japan, the Republic of South Africa or any member of the EEA other than the United Kingdom. The securities referred to herein may not be offered or sold in the United States or to U.S. Persons (within the meaning of Regulation S under the US Securities Act). Subject to certain exceptions, the securities referred to herein may not be offered or sold in Canada, Australia, Japan, the Republic of South Africa or any member of the EEA other than the United Kingdom or to, or for the account or benefit of, any national, resident or citizen of Canada, Australia, Japan, the Republic of South Africa or any member of the EEA other than the United Kingdom. Any failure to comply with these restrictions may constitute a violation of U.S., Australian, Canadian, Japanese, South African or any EEA member's (other than the United Kingdom's) securities laws, as applicable. No public offer of the Company's securities is being or will be made in the United States, Canada, Australia, Japan, the Republic of South Africa, any member of the EEA (including the United Kingdom) or elsewhere. No action has been taken by the Company or Numis that would permit an offering of the securities referred to herein or possession or distribution of this Announcement or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company and Numis to inform themselves about, and to observe, any such restrictions.

This Announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Numis or by any of its affiliates or agents as to or in relation to the accuracy or completeness of this Announcement, or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is hereby expressly disclaimed.

Numis, which is authorised and regulated by the FCA, is acting for the Company in connection with the Placing and for no one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Numis or for providing advice in relation to the Placing or any matter referred to in this Announcement.

This Announcement is not for publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Canada, Australia, Japan, the Republic of South Africa, any member of the EEA other than the United Kingdom or any jurisdiction in which the same would be unlawful.