24 Feb 2023 16:36
Completion of the Sale of Ordinary Shares portfolioCompletion 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 optimisation. The total return to investors is approximately 185p.
Further details of how and when the proceeds will be distributed to shareholders will be announced in due course.
Ernie Richardson, Chair of Foresight Solar & Technology VCT plc, commented:
“We are delighted with the uplift in value that the Ordinary share class portfolio has shown over the last 18 months. Along with this, the team managing the Fund have expertly negotiated an exceptional return for our investors and we are pleased with the outcome of this sale.
“Our confidence is illustrated by the launch of the Foresight Solar & Technology VCT plc FWT Share Class prospectus last month. The progress made by the FWT Fund since its inception in 2019 provides us with confidence for 2023 and we hope to continue this trajectory.”
For further information please contact:
Gary Fraser, Foresight Group: 020 3667 8181