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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Us Solar Fund Plc | LSE:USF | London | Ordinary Share | GB00BJCWFX49 | ORD USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.4725 | 0.445 | 0.50 | 0.4725 | 0.4625 | 0.4725 | 0.00 | 08:00:09 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 19.4M | 14.5M | 0.0436 | 10.78 | 156.13M |
TIDMUSF TIDMUSFP
RNS Number : 8232D
US Solar Fund PLC
24 February 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.
24 February 2020
US SOLAR FUND PLC (USF, the "Company")
PAYMENT FRAUD UPDATE - FURTHER RECOVERY OF $2.7m
Further to the update on 21 February 2020, the Board of US Solar Fund plc (LON: USF (USD)/USFP (GBP)) and New Energy Solar Manager (the Investment Manager) have since been advised that the relevant banks had successfully recovered a further $2.7m which has been returned to USF-controlled accounts. Together with the $3.6m recovery announced on 31 January 2020, total recovery stands at $6.3m of the $6.9m transferred.
The Board does not expect the $0.6m not yet recovered to have any impact on the next, or any subsequent, estimate of Net Asset Value. Recovery and investigation activities involving all external stakeholders are continuing, as is the previously announced review of the Investment Manager's financial processes and controls. Further updates will be announced in due course.
For further information, please contact:
US Solar Fund Whitney V oûte +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
About US Solar Fund plc
US Solar Fund plc listed on the premium segment of 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.
The Company will acquire or construct, own and operate solar power assets that 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).
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 which has committed over US$900m 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$20 billion of funds under advice and management.
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 rns@lseg.com or visit www.rns.com.
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February 24, 2020 02:00 ET (07:00 GMT)
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