NextEnergy Solar Regulatory News (NESF)

THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED IN IT, IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM, IRELAND AND THE NETHERLANDS) OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL OR RESTRICTED BY LAW (COLLECTIVELY, "RESTRICTED JURISDICTIONS") OR TO US PERSONS (WITHIN THE MEANING OF REGULATION S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED)).

THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES IN THE COMPANY IN ANY RESTRICTED JURISDICTION, NOR SHALL IT (OR ANY PART OF IT OR THE FACT OF ITS DISTRIBUTION) FORM THE BASIS OF, BE RELIED ON INTO IN CONNECTION WITH OR ACT AS AN INDUCEMENT TO ENTER INTO ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION IS RESPECT OF ANY SUCH SECURITIES. WITHOUT PREJUDICE TO THE FOREGOING GENERALITY, THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION REGARDING ANY SECURITIES.

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS. INVESTORS SHOULD NOT PURCHASE OR SUBSCRIBE FOR ANY SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION CONTAINED IN A PROSPECTUS TO BE PUBLISHED BY THE COMPANY TODAY IN CONNECTION WITH THE COMPANY'S SHARE ISSUANCE PROGRAMME.

15 November 2016

NextEnergy Solar Fund Limited ("NESF" or the "Company")

Publication of Prospectus

Further to the Company's announcement on 11 November 2016 providing details of the Company's share issuance programme to issue up to 350,000,000 new ordinary shares and/or C shares over the next 12 months (the "Share Issuance Programme") and the initial placing and offer for subscription of up to 100,000,000 new ordinary shares at 104.5p per ordinary share (the "Initial Issue"), the Directors are pleased to announce the publication today of the prospectus relating to the Share Issuance Programme and the Initial Issue (the "Prospectus").

The Prospectus has been approved by the UK Listing Authority and will shortly be available on the Company's website at www.nextenergysolarfund.com and on the National Storage Mechanism at www.morningstar.co.uk/uk/NSM.

The expected timetable for the Initial Issue is as follows*:

\* The dates and times specified above are references to London times and are subject to change, in which event details of the new times and dates will be notified, as required, through an RIS.

Applications will be made for the New Ordinary Shares issued pursuant to the Initial Issue to be admitted to listing on the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities. As noted above, it is expected that such admissions will become effective and that dealings in such shares will commence on 25 November 2016.

The Directors may, in consultation with NESF's investment manager and with the agreement of the joint bookrunners (Cantor Fitzgerald, Fidante, Macquarie and Shore Capital), increase the size of the Initial Issue, subject to investor demand. 

Words and expressions defined in the Prospectus have the same meanings when used in this announcement unless the context requires otherwise.

For further information:

Notes to Editors:

NextEnergy Solar Fund

NESF is a specialist investment company that invests in operating solar power plants in the UK. Its objective is to secure attractive shareholder returns through RPI-linked dividends and long-term capital growth. The Company achieves this by acquiring solar power plants on agricultural, industrial and commercial sites.

NESF has raised equity proceeds of approximately £350m since its initial public offering on the main market of the London Stock Exchange in April 2014. It also has credit facilities of £210.0m in place (Macquarie and Santander: £88.5m, of which £43.0m is drawn; MIDIS: £55.0m; Bayerische Landesbank: £44.9m; NIBC: £21.7m).

NESF is differentiated by its access to NextEnergy Capital Group (NEC Group), its investment manager and adviser, which has a strong track record in sourcing, acquiring and managing operating solar assets. WiseEnergy is NEC Group's specialist operating asset management division, providing solar asset management, monitoring and other services to over 1,250 utility-scale solar power plants with an installed capacity in excess of 1.7GW. NextPower II is NEC Group's private equity fund with initial commitments of €150m, investing in operating solar power plants and focused on consolidating the substantial, highly fragmented Italian solar market.

Further information on NESF, NEC Group and WiseEnergy is available at www.nextenergysolarfund.com, www.nextenergycapital.com and www.wise-energy.eu.

Important Notice

Each of Cantor Fitzgerald Europe ("Cantor Fitzgerald), Fidante Partners (Europe) Limited ("Fidante"), Macquarie Capital (Europe) Limited ("Macquarie Capital") and Shore Capital and Corporate Limited ("Shore Capital") is authorised and regulated in the United Kingdom by the FCA and acting only for the Company in connection with the matters described in this announcement. Persons receiving this announcement should note that none of Cantor Fitzgerald Europe, Fidante Capital, Macquarie Capital or Shore Capital will be responsible to anyone other than the Company for providing the protections afforded to customers of Cantor Fitzgerald Europe, Fidante Capital, Macquarie Capital or Shore Capital, or for advising any other person on the matters described in this announcement.

The contents of this announcement, which has been prepared by and is the sole responsibility of the Company, have been approved by NextEnergy Capital Limited (authorised and regulated by the Financial Conduct Authority) for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000.