5 Jan 2023 10:25
Sale of Ordinary Shares portfolioForesight Solar & Technology VCT plcLEI: 21380013CXOR8N6OD977
Sale of Ordinary Shares portfolio
Foresight Solar & Technology VCT plc (“the Fund”) is pleased to announce the exchange of contracts for the sale of its portfolio of solar assets held in the Ordinary Share class (the “sale”), totalling 70MWp1. Subject to the satisfaction of certain conditions, this sale is anticipated to complete over the next two months.
The final sale price will deliver 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 will be approximately 185p.
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 benefitted from 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. The Board will communicate further with investors following completion of the transaction.
Later this month, we will launch the Foresight Solar & Technology VCT plc FWT Share Class prospectus. The success of this Fund provides us with confidence for the new year and we hope to continue this trajectory.”
(1) Megawatt peak.
For further information please contact:
Gary Fraser, Foresight Group: 020 3667 8181