Board/Management Information • Jul 2, 2019
Board/Management Information
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National Storage Mechanism | Additional information
RNS Number : 2239E
US Solar Fund PLC
02 July 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY INVESTMENTS IN ANY JURISDICTION.
2 July 2019
US Solar Fund plc (LSE: USF (USD)/USFP (GBP)) is pleased to announce the appointment of Cenkos Securities plc and Macquarie Capital (Europe) Limited as joint corporate brokers to the Company with immediate effect.
Gillian Nott, Chairman of USF, said:
"The Board believes that appointing Macquarie and Cenkos as the Company's joint brokers is the right combination as USF works toward investing the proceeds of the IPO and creating value for shareholders. We are pleased to be appointing two brokers with such a complementary skill set."
For further information, please contact:
| US Solar Fund Whitney Voûte |
+1 718 230 4329 |
| Cenkos Securities plc Alex Collins Sapna Shah Tom Scrivens |
+44 20 7397 8900 |
| Macquarie Capital (Europe) Limited Stephen Taylor Nick Stamp |
+44 20 3037 2000 |
| KL Communications | +44 20 3603 2803 |
| Charles Gorman Josie Workman |
About US Solar Fund plc
US Solar Fund plc listed on the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is 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.
USF is aiming to deliver:
| ● | an annual dividend yield target of 5.5% once all Solar Power Assets are operational with an average growth rate of 1.5 -2.0% per annum (on a fully invested and geared basis) |
| ● | initial target annual dividend yield of 2 to 3% until all Solar Power Assets are fully operational |
| ● | target net total return over the life of the Solar Power Assets of at least 7.5% per annum |
Initial proceeds are expected to be invested or committed within six to nine months of Admission, with most plants expected to be operational within the following 12 months.
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 which has committed over US$800m to US and Australian solar plants since late 2015.
NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX listed company (ASX: ED1) with over A$18 billion of funds under advice and management.
Further information on the Company can be found on its website at www.ussolarfund.co.uk.
The Company's LEI is: 2138007BIUWE7AHS5Y90.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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