US SOLAR FUND PLC

Legal Proceedings Report • Jan 30, 2020

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RNS Number : 4722B

US Solar Fund PLC

30 January 2020

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.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

30 January 2020

US SOLAR FUND PLC

(the "Company")

DETECTION OF PAYMENT FRAUD

The Board of US Solar Fund plc (LON:USF (USD)/USFP (GBP)) was made aware this morning that its investment manager, New Energy Solar Manager (Investment Manager), has been the victim of a fraud in relation to contracted construction payments totalling $6.9 million. The payments were made from the US bank account of a USF project company to a third party US bank account.

The Board and the Investment Manager immediately launched an investigation and are working with the relevant US authorities, account banks, the construction counterparty, and insurers. 

USF will provide further information as it becomes available.

For further information, please contact:                         

US Solar Fund Investor Relations Whitney Voûte	+1 718 230 4329
Cenkos Securities plc Will Rogers Rob Naylor Will Talkington	+44 20 7397 8900
KL Communications	+44 20 3995 6673
Charles Gorman Charlotte Stickings

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