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Pin to quick picksUs Solar Fund Regulatory News (USF)

Share Price Information for Us Solar Fund (USF)

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US Solar Fund is an Investment Trust

To provide investors with attractive and sustainable dividends, with an element of capital growth, by investing in a diversified portfolio of Solar Power Assets in North America and other OECD countries in the Americas.

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Purchase of Management Fee Shares

14 Jun 2023 10:15

RNS Number : 6902C
US Solar Fund PLC
14 June 2023
 

14 June 2023

US SOLAR FUND PLC

("USF", the "Company")

 

Purchase of Management Fee Shares

In accordance with the terms of the investment management agreement (IMA) between the Company and New Energy Solar Manager Pty Limited (Investment Manager), the key terms of which were outlined in the Company's Prospectus published on 13 April 2021 (Prospectus), ten per cent of the investment management fee (Management Share Amount) shall be received by the Investment Manager, or an Associate, in Ordinary Shares of the Company (Management Fee Shares).

The Company will apply an amount equal to the Management Share Amount to the purchase on behalf of the Investment Manager or an Associate (as directed by the Investment Manager) of Ordinary Shares for cash in the secondary market. In making, or directing a broker or other agent of the Company to make any such purchases, the Company shall act as the agent of the Investment Manager or the relevant Associate (as directed by the Investment Manager) and not as principal.

The Investment Manager purchased 329,495 Management Fee Shares on 8 June 2023 at an average price of $0.73, reflecting the Management Share Amount due to the Investment Manager for the period from 1 July 2022 to 31 March 2023.

Combined with previous Management Fee Share purchases, the Investment Manager or the relevant Associates will hold a total of 1,155,719 Management Fee Shares.

The Management Fee Shares are subject to a minimum lock-in period of 36 months from the Payment Date.

Unless the context otherwise requires, capitalised terms used in this announcement have the meanings in the Prospectus.

For further information, please contact:

US Solar Fund

Whitney Voute

 

+1 718 230 4329

Cenkos Securities plc

James King

Tunga Chigovanyika

Will Talkington

 

+44 20 7397 8900

Jefferies International Limited

Stuart Klein

Gaudi Le Roux

 

+44 20 7029 8000

 

KL Communications

+44 20 3995 6673

Charles Gorman

Charlotte Francis

Millie Steyn

 

About US Solar Fund plc 

US Solar Fund plc, established in 2019, listed on the premium segment of the London Stock Exchange in April 2019. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by owning and operating solar power assets in North America and other OECD countries in the America.

The solar power assets that the Company acquires or constructs are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs). The Company's portfolio currently (including the Company's 50% interest in MS2) consists of 42 operational solar projects with a total capacity of 543MWDC, all located in the United States.

 

Further information on the Company can be found on its website at http://www.ussolarfund.co.uk.

 

About the Investment Manager 

USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund. Combined, US Solar Fund and New Energy Solar have committed approximately US$1.3 billion to 57 projects totalling 1.2GWDC.

 

NESM is owned by E&P Funds, the funds management division of E&P Financial Group, an ASX listed company (ASX: EP1) with over A$20 billion of funds under advice.

 

 

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MSCFIMLTMTBBMIJ
Date   Source Headline
25th Apr 20245:33 pmRNSHolding(s) in Company
24th Apr 20247:00 amRNSFixed-Price Tender Offer, Dividend & Refinancing
25th Mar 20247:01 amRNSDividend Declaration
25th Mar 20247:00 amRNSFull Year Results and Notice of AGM
19th Mar 20241:30 pmRNSHolding(s) in Company
18th Mar 20247:00 amRNSNotice of Results
14th Mar 20241:44 pmRNSHolding(s) in Company
15th Jan 20244:39 pmRNSHolding(s) in Company
12th Jan 20244:46 pmRNSHolding(s) in Company
8th Jan 20243:08 pmRNSHolding(s) in Company
4th Jan 20245:23 pmRNSHolding(s) in Company
29th Dec 202312:36 pmRNSDirector/PDMR Shareholding
21st Dec 202312:31 pmRNSDirector/PDMR Shareholding
18th Dec 20235:02 pmRNSHolding(s) in Company
18th Dec 20237:00 amRNSNEW RENEWABLE ENERGY CERTIFICATE CONTRACTS SIGNED
1st Dec 20237:00 amRNSInvestment Manager Appointment
30th Nov 20234:19 pmRNSDividend Declaration and NAV Update
17th Nov 202312:30 pmRNSInvestment Manager Change
17th Nov 202312:25 pmRNSResult of General Meeting
31st Oct 20237:00 amRNSInvestment Policy Change/Notice of General Meeting
30th Oct 20235:07 pmRNSHolding(s) in Company
28th Sep 20237:00 amRNSInterim Results to 30 June 2023, NAV and Dividend
21st Aug 20237:00 amRNSInvestment Manager Update
7th Aug 20237:00 amRNSMarket Update
10th Jul 20237:00 amRNSMS2 PROCEEDS AND STRATEGIC REVIEW UPDATE
26th Jun 20237:00 amRNSMS2 SALE - FINANCIAL CLOSE
14th Jun 202310:15 amRNSPurchase of Management Fee Shares
30th May 20237:00 amRNSDividend, Quarterly Trading and NAV Update
24th May 20233:34 pmRNSResult of AGM
12th May 20237:00 amRNSStrategic Review Update
11th May 202310:55 amRNSForm 8.3 - US Solar Fund plc
10th May 20232:52 pmRNSForm 8.3 - US Solar Fund plc
10th May 202311:30 amRNSForm 8.5 (EPT/NON-RI) US Solar Fund Plc
10th May 202311:13 amRNSForm 8.3 - US Solar Fund plc
9th May 20239:55 amRNSForm 8.5 (EPT/NON-RI)
28th Apr 20231:22 pmRNSForm 8.3 - US Solar Fund Plc
27th Apr 20232:15 pmRNSForm 8.3 - US Solar Fund plc
26th Apr 20231:16 pmRNSForm 8.3 - US SOLAR FD PLC
26th Apr 20239:10 amRNSForm 8.5 (EPT/NON-RI) US Solar Fund Plc
25th Apr 20232:51 pmRNSForm 8.3 - US Solar Fund plc
25th Apr 20237:00 amRNSMS2 SALE UPDATE
20th Apr 20239:10 amRNSForm 8.5 (EPT/NON-RI) US Solar Fund Plc
18th Apr 20231:59 pmRNSForm 8.3 - US Solar Fund PLC
17th Apr 202312:26 pmRNSForm 8.3 - US SOLAR FD PLC
17th Apr 20238:19 amRNSForm 8.5 (EPT/NON-RI) US Solar Fund Plc
14th Apr 20239:27 amRNSForm 8.5 (EPT/NON-RI) US Solar Fund Plc
13th Apr 202311:06 amRNSForm 8.3 - US Solar Fund plc
13th Apr 20238:53 amRNSForm 8.5 (EPT/NON-RI) US Solar Fund Plc
12th Apr 20238:57 amRNSForm 8.5 (EPT/NON-RI) US Solar Fund Plc
6th Apr 202311:15 amRNSForm 8.3 - US Solar Fund plc

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