Last checked at 
12 Mar 2021 17:23
LEI: 213800ZPHCBDDSQH5447
12 March 2021
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Scrip Dividend Shares - Additional Listing
NextEnergy Solar Fund, a renewable energy infrastructure investment company specialising in solar that provides shareholders with an attractive risk-adjusted return from a diversified portfolio of assets, is pleased to announce the following in respect of the scrip dividend:
Dividend period:
| 1 October 2020 to 31 December 2020 |
Dividend amount per share:
| 1.7625 pence |
Scrip dividend price per share:
| 100.92 pence |
Payment date/Allotment of scrip:
| 31 March 2021 |
Number of new shares to be issued:
| 196,283
|
Application has been made to the London Stock Exchange for 196,283 ordinary shares to be admitted to trading. These ordinary shares are to be issued as a scrip dividend alternative to receiving a cash dividend in respect of the dividend for the third quarter of the Company's 2020/21 financial year. Dealings are expected to commence at 8:00 a.m. on 31 March 2021.
Immediately following Admission, the Company's issued share capital will comprise 586,987,678 ordinary shares, none of which will be held in treasury. Each ordinary share carries the right to one vote and, therefore, the total number of voting rights in the Company on Admission will be 586,987,678. This figure may be used by shareholders and other investors 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 FCA's Disclosure Guidance and Transparency Rules.
-End-
For further information:
NextEnergy Capital Group | 020 3746 0700 |
Michael Bonte-Friedheim | ir@nextenergysolarfund.com |
Aldo Beolchini Ross Grier Peter Hamid (Investor Relations) | |
Cenkos Securities | 020 7397 8900 |
James King William Talkington | |
Shore Capital | 020 7408 4090 |
Anita Ghanekar Sarah Mather | |
Camarco | 020 3781 8334 |
Owen Roberts Eddie Livingstone-Learmonth | |
Apex Fund and Corporate Services (Guernsey) Limited | 01481 735 827 |
Nick Robilliard | |
Notes to Editors1:
About NextEnergy Solar Fund
NextEnergy Solar Fund is a renewable energy infrastructure investment company that currently invests in operating solar power plants in the UK and Italy. The Company may invest up to 30% of its gross asset value in non-UK OECD countries, 15% in private equity structures, and 10% in standalone energy storage.
NESF currently has a diversified portfolio comprising 92 operating solar assets, primarily on agricultural, industrial, and commercial sites, with a combined installed power capacity of c.813MWp.
As at 31 December 2020, the Company had gross assets of £1,001 million, of which 88% was invested in the UK, and net assets of £591 million. The majority of long-term cash flows from its investments are inflation-linked.
NESF's investment objective is to provide ordinary shareholders with attractive risk-adjusted returns, principally in the form of regular dividends, by investing in a diversified portfolio of primarily UK-based solar energy infrastructure assets. The dividend is payable quarterly, and the Company has announced a dividend target for the year ending 31 March 2021 of 7.05p per ordinary share.
For further information on NESF please visit nextenergysolarfund.com
Commitment to ESG
NESF is committed to ESG principles and responsible investment which make a meaningful contribution to reducing CO2 emissions through the generation of clean solar power. NESF will only select investments that meet the requirements of NEC Group's Sustainable Investment Policy. Based on this policy, NESF benefits from NEC's rigorous ESG due diligence on each investment. NESF is committed to reporting on its ESG performance in accordance with the UN Sustainable Development Goals framework and the EU Sustainable Finance Disclosure Regulation.
NESF has been awarded the London Stock Exchange's Green Economy Mark and has been designated a Guernsey Green Fund by the Guernsey Financial Services Commission.
NESF's sustainability-related disclosures in the financial services sector in accordance with Regulation (EU) 2019/2088 can be accessed on the ESG section of both the NESF website (nextenergysolarfund.com/esg/) & NEC Group website (nextenergycapital.com/sustainability/transparency-and-reporting/).
About NextEnergy Capital Group ("NEC Group")
NESF is managed by the NextEnergy Capital Group, a specialist solar investment manager, which has a strong track record in sourcing, acquiring, and managing operating solar assets. NEC Group is a leading player in the global solar investment sector and has over 190 team members with offices in UK, Italy, India, and the USA and assets under management of over $2.3bn across three institutional funds.
NextEnergy Capital Group donates 5% of its net annual profits to NextEnergy Foundation. NextEnergy Foundation is an international charity that was founded in 2016. Its mission is to participate proactively in the global effort to reduce carbon emissions, provide clean power sources in regions where they are not yet available, and contribute to poverty alleviation.
For further information on NEC Group please visit nextenergycapital.com
For further information on NextEnergy Foundation visit nextenergyfoundation.org
About WiseEnergy
WiseEnergy is NEC Group's specialist operating asset management division. NESF is differentiated by its access to WiseEnergy, which has provided operating asset management, monitoring, technical due diligence, and other services to over 1,500 utility-scale solar power plants with an installed capacity in excess of 2.3GW.
For further information on Wise Energy please visit wise-energy.com
[1] Note: All financial data is as at 31 December 2020, being the latest date in respect of which NESF has published financial information