November 24th, 2014
Stay up to date with the latest BSIF RNS announcements.
Relevant sector news stories are also featured.
Published by QuotedData
7 February 2019
Author: James Carthew
Bluefield Solar Income Fund – Walking on sunshine
Faced with rising prices for secondary solar power projects, Bluefield Solar Income Fund (BSIF) has taken a strategic decision not to focus on growing its portfolio during the last couple of years. Instead, a focus on increasing operational efficiency, coupled with a 32.5% increase in the power price, has helped deliver a 16.2% year-on-year uplift in BSIF’s underlying earnings for the year ended 30 June 2018 (from 8.32p per share to 9.67p per share).
BSIF has an annual dividend target that, after the repayment of debt, is linked to the retail prices index, which is 7.68p for the year ending 30 June 2019 – a 6.0% yield on the current share price. BSIF offers one of the highest yields in its sector.
Read full article here
BSIF is the best performing fund in the Renewable Energy sector for the second consecutive year, according to Quoted Data. Read the full report here.
We are proud to be co-sponsoring and speaking at AltAssets Renewable Energy Forum in February! Bluefield will contribute to the discussion on “How will risk profile of renewable energy continue to shift?”.
The KID has been prepared pursuant to the Packaged Retail and Insurance-Based Investment Products Regulations issued by the European Commission (“EC PRIIPS”). EC PRIIPS prescribes the complex financial modelling used to calculate the risk and return figures, which is derived from historic share price information. The Company wishes to remind investors that, although its risk and return scenarios are compliant with EC PRIIPS, past performance is no guide to future performance.
You can access BSIF’s Key Information Document here: Bluefield-KID-Jun-18-FINAL-FINAL-20181213-
Bluefield was nominated to Best Infrastructure Trust at Citywire Investment Trust Award 2018!
https://www.linkedin.com/feed/update/urn:li:activity:6464074761080311809
Date: October 2018
Published by: Investment Trust Newsletter
Written by: Andrew McHattie
——————————————————————————————
We have written about Bluefield Solar Income a few times in the
newsletter, highlighting its 6%-plus dividend yield, reliability, and
well-managed risks. After the fund’s final results for 2018, which
most importantly confirmed the year’s total dividends at 7.43p per
share, we spoke to Bluefield Partners’ managing director James
Armstrong about the outlook.
These results marked the fund’s fifth year
of operation since its IPO in July 2013, since
when the shareholder total return has
been over 50%, something of which James
is justifiably proud. He says the fund has
exceeded its targets over these five years, in
spite of falling power prices, providing steady
returns to investors that are uncorrelated
with movements in the stockmarket. That
last point is important if you are looking
for diversification away from equity funds
– Bluefield Solar derives its income from
UK solar photovoltaic assets, with 60% of
revenue in the form of regulated flows. It
owns and operates solar farms across the
UK, from Trethosa in Cornwall to Kellingley
in Yorkshire.
James stresses that this is “an income
product” – he does not want to become
obsessed with the net asset value (113.3p at
the end of June) – he wants to position the
fund as a very defensive, very predictable
income producer that simply provides a good
sterling yield to shareholders. Based on the
target dividend of 7.68p per share for 2019,
the prospective dividend yield is 6.3%, which
we think is very attractive.
Much of the fund’s revenue for next year is
already locked in, thanks to fixed contracts
that are already signed for power supply.
Ironically enough, at a time when the trust’s
assumptions (used to calculate the NAV) have
been heading lower for long-term power
prices, there has been a spike in short-term
prices that is beneficial for revenue. From
around £45/MWh of energy earlier this
year, power purchase agreement prices are
closer to £57/MWh now. Another potential
windfall has been the sudden termination
by the EU of a minimum import price for
Chinese solar modules, effective as of last
month, meaning a fall in the cost of new
installations. James sees the solar market
moving towards economic unsubsidised
projects, and whilst virtually no new solar
capacity is currently being built in the UK,
he thinks the trust will have expansion
opportunities again in the future.
For now it is simply business as usual
for Bluefield, delivering power to the UK
network and growing dividends to its
shareholders. For non-correlated income
from a quality operator, we think BSIF is a
solid defensive holding.
Bluefield Solar Income Fund (BSIF) has reported a rise in net asset value (NAV), earnings per share, and dividend distribution in its most recent full-year report, which covers a period where the listed solar fund made few acquisitions.
Read full article: IJGlobal-Bluefield-Solar-Income-Fund-exceeds-returns-targets
See the presentation and listen to the audiocast here
Watch the presentation and listen to the webcast here
Bluefield Solar is today holding an analyst and investor event, which will provide guests with the opportunity to visit one of Bluefield Solar’s power plants. The event also involves a presentation by Bluefield Services, a Bristol-based technical asset management business that provides services such as asset monitoring and reporting, operation and maintenance, contract management and technical optimisation for Bluefield Solar’s portfolio.
Read the full announcement here
Date: May 2018
Publication: Investment Trust Newsletter
Author: Andrew McHattie
——————————————————————————————————
STOCKBROKERS RESEARCH
We must mention Canaccord’s annual ‘skin in the game’
research on the personal investment of directors and
management, published on 26th April. It’s an excellent
piece of research, affording some real insight into the
industry. Canaccord say “while no guarantee of superior
performance, in order to align interests, investors look for
directors and managers to have a meaningful personal
investment in the companies which they direct and/or
manage. We have never met one investor who has argued
against this, and we strongly believe that skin in the game
sends a clear and powerful message to both existing and
potential investors.”
Significant progress has been made on a number of fronts
since Canaccord’s original review in 2012 and they highlight
that over the past six years, the percentage of women
directors has increased from 10.2% to 22.3%. There are
still 69 all-male boards. The total investment by boards
and managers featured in this report is £2,043m. While the
evolution of the closed-end industry makes comparisons
of limited value, this is double the total of £1bn in 2014
and it was £687m in 2012. Some 58 chairmen or directors
have an investment in excess of £1m while 67 managers
or management teams have a personal investment
in excess of £1m. Surprisingly, 14% of directors have
no investment, and 30 current chairmen, who have
been on their respective boards for at least five years,
currently have a shareholding valued at less than
their annual fee. A total of 17 chairmen (6%) have no
investment in their company. The report features 1352
directorships, of which 93.5% are independent. This
compares with 93% in 2014 and 91% in 2012.
The investment companies where all board members
have current shareholdings equivalent to more than
two years’ fees are: Bluefield Solar Income Fund , EP
Global Opportunities, Fundsmith Emerging Equities,
Independent Investment Trust, Jupiter European
Opportunities, Majedie Investments, Mid Wynd
International, Miton UK Microcap, Personal Assets,
Seneca Global Income & Growth, Utilico Emerging
Markets, and Warehouse REIT.
In contrast, the boards have no investment at all
in Carador Income Fund, Ground Rents Income,
CVC Credit Partners European Opportunities, or
Honeycomb Investment Trust.
You can access the EMT here.
Disclaimer – EMT Data for MiFID II Reporting
This document has been prepared by the Company on a voluntary basis to allow financial intermediaries to be MiFID II compliant (the “Regulations”). The template provides functional data of BSIF’s target market, distribution strategy, costs and charges ex-ante and ex-post. This data is required by some of the Company’s counterparties in the secondary market. The data was sourced from both internal and external sources, which may not have been verified or audited independently and as such you use the data at your own risk. We therefore do not guarantee the accuracy of the data or its applicability for the Regulations or your regulatory obligations. Further, this document does not provide you with information on how to interpret the data and we do not represent or warrant that the data has been created, calculated or made available in compliance with the Regulations. This document is strictly for information purposes and should not be considered as an offer, investment recommendation or solicitation to deal in any of the investments mentioned herein and does not constitute investment research. Notwithstanding any other provision in this document we retain the right to amend the data without notice and as we consider necessary from time to time and if we deem it necessary to cease providing you with the data at any time and without notification. The data provided does not include any reference to, or consideration of, any form of stamp duty or similar and applicable sale tax, which may be payable by the investor in respect of their purchase of the investment to which the data relates.Excluding any liability for fraud or any other applicable liability in law, the Company has no liability to you or any third party howsoever arising in relation to the data.
Read article here
Published by Citywire, Investment Trust Finder
5th March 2018
Written by James Carthew
James Carthew: the high-yield solar fund basking in UK’s rays
With the ‘Beast from the East’ receding it is time to think about spring and sunshine, specifically Bluefield Solar Income Fund (BSIF), the only one of the renewable energy investment companies I own. It has been a great investment to date, throwing off an attractive yield and providing me with some modest capital appreciation.
Bluefield has no aspirations to expand outside the UK, or diversify into other forms of renewable energy generation, and so it is focused solely on UK-based solar photovoltaic (PV) assets, all of which are ground mounted, at present.
With a market value of £424 million Bluefield is the smallest of the three listed solar funds, and at 6.5% the highest yielding in the renewable energy sector. At Friday’s close of 113.5p the shares traded on a small premium to net asset value (NAV) of 2.6%, which compares to a premium of 8% for NextEnergy Solar (NESF) and 9.7% for Greencoat UK Wind (UKW), according to Morningstar data.
When BSIF launched in 2013, I remember being surprised that solar power generation was viable in the UK even with subsidies. The crystalline silicon-based PV technology that underpins commercial solar plants hasn’t evolved much in recent years. New technologies are out there, based on Gallium Arsenide for example, but the additional cost of producing a solar panel using these technologies outweighs the efficiency gain available. Read full article
The KID has been prepared pursuant to the Packaged Retail and Insurance-Based Investment Products Regulations issued by the European Commission (“EC PRIIPS”). EC PRIIPS prescribes the complex financial modelling used to calculate the risk and return figures, which is derived from historic share price information. The Company wishes to remind investors that, although its risk and return scenarios are compliant with EC PRIIPS, past performance is no guide to future performance.
You can access BSIF’s Key Information Document here: Bluefield-KID-Clean-Updated-100518
Written by Rebecca O’Connor on 2nd October 2017
Blurred lines and electric cars
“The lines between ‘sustainable’ and ‘ethical’ can be quite blurry and funds in this sector come in all shades of green. I look at assets where the underlying companies, countries and institutions score well on social and environmental criteria, but it is important investors look at what rules the manager applies.
“Electric cars are perhaps a case in point. James Dyson announced last week that he expects to have an electric car in production by 2020. Whilst welcome news to urban dwellers suffering high levels of pollution from petrol and diesel cars, from my perspective there’s a bit more to it than that. If the electricity charging the batteries is generated by coal fired power stations, pollution is still happening – just in a different place.”
Ms Ritchie admits a particular fondness for the Renewable Energy Infrastructure investment company sector*. Holdings include Greencoat UK Wind, NextEnergy Solar, Foresight Solar, The Renewable Infrastructure Group and Bluefield Solar Income, which together account for almost 6 per cent of 7IM Sustainable Balance Fund’s portfolio.
Ms Ritchie says: “It’s been professionally and personally satisfying to watch the evolution of investment companies in the renewable energy infrastructure space, where spectacular growth in assets has come despite significant headwinds like changes in Government policy towards renewable energy and a fall in the oil price.
“This has come hand in hand with a substantial fall in installation and operational costs leading companies to look at how to approach the post subsidy era, with some beginning to look at the potential that battery storage might have for the ‘intermittent’ energy sector.”
Read full article here
By Jayna Rana, Investment Week
25 September 2017
The outlook for the renewables fund sector is looking more positive than ever as demand continues to grow from investors searching for yield and renewable energy becomes part of the “mainstream” according to James Armstrong, managing partner at Bluefield Partners.
In its annual results released last week for the 12 months to 30 June, the £583m Bluefield Solar Income fund revealed a NAV total return of 18.5%, a share price total return of 23% and a third consecutive year of dividend outperformance against its targets. It is also the top performing fund in its AIC Infrastructure – Renewable Energy sector over one and three years.
Read full article here
By Emma Agyemang, Investors Chronicle
29 September 2017
Renewable energy trusts invest in wind and solar generation and are popular with investors due to their high, inflation-linked and government-backed yields. The average investment trust within the Association of Investment Companies (AIC) Infrastructure – Renewable Energy sector is trading on a 9.6 per cent premium to net asset value (NAV). The yields these trusts are currently generating have been partly driven by generous subsidy schemes, with around 60 per cent of fund revenues coming from this source. But March saw the closure of an important subsidy – the Renewables Obligation Certificates (ROCs) scheme – to new projects, raising the question of how renewable trusts will continue growing in future.
Diversifying clean energy projects
A different strategy for increasing growth is to expand the type of assets a trust invests in. Trusts can also wring out further income from the projects they do own, rather than acquiring new projects. Bluefield Solar Income Fund (BSIF), the highest-yielding trust in the sector at 6.4 per cent, is currently taking this approach. It has a team of 40 staff who focus on how to maximise revenues within the fund’s PPAs or via cost reductions in existing contracts. In addition it has a team of technical engineers who continually monitor their solar plants to see how they can improve efficiencies and generate more power.
“The model that we adopted from our Initial Public Offering (IPO) was that of building, with the vast majority of the portfolio – over 80 per cent – acquired through funding via construction as we took advantage of the rapidly growing solar market in the UK,” says James Armstrong, managing partner of Bluefield partners, investment adviser to Bluefield Solar Income. “Whereas what we are looking at [now] in a steady state is how we can drive earnings growth, which is what our shareholders want.”
The various methods funds are using to continue growing suggest they have largely taken the loss of ROC subsidies in their stride, however new acquisitions may potentially change their risk/return profile going forward.
Read the full article here
Read the full Annual Report & Financial Statement here
Listen here to BSIF’s annual report.
The following RNS announcements relate to dealings in shares of the Company by Persons Discharging Managerial Responsibilities or their connected persons.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723452.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723463.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723476.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723494.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723504.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723511.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723524.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723528.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723537.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723542.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723543.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723544.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723546.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723550.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723552.html
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BSIF/12723553.html
(Bloomberg) — Bluefield LLP is considering a second listing attempt for its Europe-focused solar fund in 2016 after market turmoil reduced investor interest in July.
“We are very actively looking at European markets at the moment,” said James Armstrong, managing partner at London-based Bluefield, in a telephone interview. “Some are very, very attractive for investment. We are working on it in 2016.”
Bluefield postponed the July initial public offering of Bluefield European Solar Fund, which it said would have been worth about 200 million euros ($220 million), after market uncertainty grew over the Greek debt crisis.
“That’s settled down a bit now,” said Armstrong. “Our strong view, that has been consistent, is that Europe offers fantastic opportunity for a solar fund.”
The low interest rate environment coupled with solar- investment incentives from governments can deliver “very attractive levels of revenues and income in certain markets,” he said.
Bluefield hasn’t decided whether it would list on the London Stock Exchange or somewhere else, Armstrong said, adding that his company seeks to buy operational assets rather than build new ones from scratch.
The company’s U.K-focused Bluefield Solar Income Fund Ltd. said on Thursday that second-half earnings per share rose 34 percent, to 4.66 pence, compared to the same period the year before. It paid a quarterly dividend of 1.50 pence after increasing its portfolio to 400 megawatts from 260 megawatts.
BLUEFIELD SOLAR INCOME FUND LIMITED
Dividend Declaration
Bluefield Solar Income Fund Limited (the “Company“) is pleased to declare a second interim dividend of 2 pence per share in respect of the financial period ending 30 June 2014. This dividend will be payable to shareholders on the register as at 19 September 2014 with an associated ex-dividend date of 17 September 2014 and a payment date of 31 October 2014.
To Read this RNS in full, please click here.
Utility Week” alt=””Utility Week”” style=””float: right;””>Utility Week
08 September 2014
“
London Stock Exchange welcomes Bluefield Solar Income Fund to the Main Market
First day of trading
JULY 12, 2013
RNS Number : 1674J
Bluefield Solar Income Fund Limited
12 July 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA.
This announcement is an advertisement and not a prospectus. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information in the prospectus dated 25 June 2013 and the supplementary prospectus dated 3 July 2013 (together the “Prospectus”) published by Bluefield Solar Income Fund Limited in connection with the initial public offering and the admission of its ordinary shares (the “Ordinary Shares”) to the premium segment of the Official List of the Financial Conduct Authority (the “Official List”) and to trading on London Stock Exchange plc’s main market for listed securities (the “London Stock Exchange”). A copy of the Prospectus is available from the Company’s website. This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.
BLUEFIELD SOLAR INCOME FUND LIMITED (BSIF.L)
£130 million IPO, admission to trading and PDMR shareholdings
12 July 2013: Further to its announcement on 11 July 2013 that it has raised £130 million in its initial public offering (“IPO”), Bluefield Solar Income Fund Limited (the “Fund”), a newly incorporated investment fund focusing on large scale agricultural and industrial solar assets, today announced its first day of trading on the Main Market of the London Stock Exchange.
Reflecting strong investor demand, including a cornerstone investment from CCLA Investment Management Limited, the Fund has placed 130 million shares, conditional on Admission, at an issue price of 100 pence per Ordinary Share, raising gross proceeds of £130 million, significantly exceeding the minimum target fund raise of £75m.
On admission the beneficial interests of Directors in the issued share capital of the Fund will be as follows:
Director
Number of ordinary shares under placing/offer for subscription
Number of ordinary shares in lieu of first two years’ fees
TOTAL
% of issued share capital
John Rennocks
55,000
100,000
155,000
0.12%
Paul Le Page
–
70,000
70,000
0.05%
Laurence McNairn
30,000
60,000
90,000
0.07%
John Scott
40,000
60,000
100,000
0.08%
On admission the beneficial interests of the partners of the Investment Adviser to the Fund will be as follows:
Partner
Number of ordinary shares under placing/offer for subscription
% of issued share capital
James Armstrong
50,000
0.04%
William Doughty
750,000
0.58%
Jon Moulton
500,000
0.38%
Mike Rand
50,000
0.04%
Anthony Williams
1,500,000
1.15%
On admission, the issued share capital of the Fund will be 130,290,000 shares.
Comment
Commenting on the announcement, James Armstrong, a Managing Partner of Bluefield Partners LLP, the Investment Adviser to the Fund, said:
“We view this first successful IPO of a solar fund in the UK as a pivotal moment in the growth of large scale UK solar. The Fund has been backed by a broad range of investors, including some of the largest fund management groups globally and in the UK, which is a clear reflection that solar energy assets are rightly being recognised as a great way to earn long term, stable income.
“The UK solar sector will play an increasingly important role in the UK Government’s 2020 renewable energy targets, as it continues to drive down installation costs and reduce its reliance on subsidies. We believe this is the start of a significant growth phase for the sector.”
John Rennocks, Non-Executive Chairman, of the Fund said:
“The success of the listing gives the Bluefield Fund a strong platform from which to become a leading player in the rapidly growing large scale UK solar sector. Solar energy has the potential to be a major investment theme over the coming years, due to ease of deployment, stability of energy production and on-going cost reductions. The Board are very excited about the Fund’s potential.”
For further details contact:
Numis Securities (Investors) 020 7260 1000
Tod Davis (Sales)
David Benda (Corporate Broking)
Jamie Lillywhite (Corporate Finance)
Capital MSL (Media) 020 7307 5330
Nick Bastin
Michael Kinirons
Giles Abbott
Important Information
This announcement has been prepared by, and is the sole responsibility of, Bluefield Solar Income Fund Limited.
Numis Securities Limited is acting only for Bluefield Solar Income Fund Limited in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Numis Securities Limited or advice to any other person in relation to the matters contained herein.
The Fund is not and will not be registered under the US Investment Company Act of 1940, as amended. The Ordinary Shares have not been, nor will they be, registered under the US Securities Act of 1933, as amended (the “Securities Act”) or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada, Japan, the Republic of Ireland or South Africa. Subject to certain exceptions, the Ordinary Shares may not be offered or sold in the United States, Australia, Canada, Japan, the Republic of Ireland or South Africa or to or for the account or benefit of any national, resident or citizen of Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa or any person located in the United States. The Placing and the Offer for Subscription and the distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Completion of IPO
JULY 11, 2013
11 Jul 2013
Source: RNS
RNS Number : 0670J
Bluefield Solar Income Fund Limited
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA.
This announcement is an advertisement and not a prospectus. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information in the prospectus dated 25 June 2013 and the supplementary prospectus dated 3 July 2013 (together the “Prospectus”) published by Bluefield Solar Income Fund Limited in connection with the initial public offering and the admission of its ordinary shares (the “Ordinary Shares”) to the premium segment of the Official List of the Financial Conduct Authority (the “Official List”) and to trading on London Stock Exchange plc’s main market for listed securities (the “London Stock Exchange”). A copy of the Prospectus is available from the Company’s website. This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.
BLUEFIELD SOLAR INCOME FUND LIMITED
IPO successfully raises £130 million to invest in UK-based large scale solar assets
11 July 2013 Bluefield Solar Income Fund Limited (the “Fund”), a newly incorporated investment fund focusing on large scale agricultural and industrial solar assets, today announced that it has raised gross proceeds of £130 million in its initial public offering (“IPO”) of shares on the Main Market of the London Stock Exchange.
Application has been made to the Financial Conduct Authority (the “FCA”) for the Ordinary Shares to be admitted to the premium segment of the Official List and to the London Stock Exchange and for such Ordinary Shares to be admitted to trading on the London Stock Exchange’s Main Market for listed securities, with unconditional trading expected to commence at 08.00 on 12 July 2013.
For further details contact:
Numis Securities (Investors) 020 7260 1000
Tod Davis (Sales)
David Benda (Corporate Broking)
Jamie Lillywhite (Corporate Finance)
Capital MSL (Media) 020 7307 5330
Nick Bastin
Michael Kinirons
Giles Abbott
Important Information
This announcement has been prepared by, and is the sole responsibility of, Bluefield Solar Income Fund Limited.
Numis Securities Limited is acting only for Bluefield Solar Income Fund Limited in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Numis Securities Limited or advice to any other person in relation to the matters contained herein.
The Fund is not and will not be registered under the US Investment Company Act of 1940, as amended. The Ordinary Shares have not been, nor will they be, registered under the US Securities Act of 1933, as amended (the ”Securities Act”) or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa. Subject to certain exceptions, the Ordinary Shares may not be offered or sold in the United States, Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa or to or for the account or benefit of any national, resident or citizen of Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa or any person located in the United States. The Placing and the Offer for Subscription and the distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
Utility Week” alt=””Utility Week”” style=””float: right;””>Utility Week
08 September 2014
“
BLUEFIELD SOLAR INCOME FUND LIMITED
Dividend Declaration
Bluefield Solar Income Fund Limited (the “Company“) is pleased to declare a second interim dividend of 2 pence per share in respect of the financial period ending 30 June 2014. This dividend will be payable to shareholders on the register as at 19 September 2014 with an associated ex-dividend date of 17 September 2014 and a payment date of 31 October 2014.
To Read this RNS in full, please click here.
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Any information in respect of past performance (including without limitation past performance of BSIF, its group, shares in BSIF and/or the BSIF’s portfolio) cannot be relied upon as a guide to future performance. Capital at Risk.
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The Bluefield Solar Income Fund Limited (BSIF) is a non-cellular company limited by shares incorporated in Guernsey under the Law on 29 May 2013 with registered number 56708. BSIF is regulated by the Guernsey Financial Services Commission as a registered closed-ended collective investment scheme. For more information write to BSIF at PO Box 286, Floor 2, Trafalgar Court, Les Banques, St Peter Port, Guernsey, GY1 4LY. Bluefield is the Investment Adviser to BSIF.
IMPORTANT NOTICE AND RISK WARNING REGARDING BLUEFIELD SOLAR INCOME FUND, INCLUDING TRACK RECORD AND PAST PERFORMANCE INFORMATION
Any information in respect of past performance (including without limitation past performance of BSIF, its group, shares in BSIF and/or the BSIF’s portfolio) cannot be relied upon as a guide to future performance. Capital at Risk.
This Website may contain “track record” information and performance data regarding BSIF. Such information is not necessarily comprehensive and persons accessing this Website or reviewing such materials should not consider this information to be indicative of the possible future performance of BSIF. Past performance of BSIF or other funds previously or currently advised by Bluefield are not a reliable indicator and cannot be relied upon as a guide to future performance of the BSIF or its advisers.
No Offer: This material and any related materials may not have been verified and is not and do not constitute or form part of, and should not be construed as, an offer or solicitation to issue, buy or sell any securities, or any interest in any securities, in any jurisdiction or an inducement to enter into any contract or commitment or investment or underwriting activity whatsoever in relation to any securities, which shall all, if relevant, be subject to Bluefield’s internal approvals.
No Approval By A Regulatory Authority: Unless otherwise expressly stated in this Website, this material or any related materials have not been reviewed or approved by any rating agencies or by the FCA or any other regulatory agency.
No Advice: No part of the information contained in this Website is intended to be, and should not be construed as, investment, financial, legal, tax or other advice, and is not a recommendation, endorsement or representation as to the suitability of any investment, fund or any other financial product. You should seek independent professional advice before making any investment or financial decision.
Third Party Websites: This Website may contain links and/or references to websites operated by third parties. Any references to such third-party websites are in no way an endorsement by Bluefield of these sites. Bluefield does not monitor, edit or control such third-party sites and is not responsible in any way for the suitability of their content or for the quality of the products or services offered therein. Your choice to visit such websites is at your risk. If you have any questions regarding a website referenced within this Website, please direct them to the administrator of the relevant website.
IMPORTANT: Bluefield Solar Income Fund is not primarily targeted at retail investors.
The shares in the fund are intended for sophisticated investors, institutional and private clients who understand and are willing to assume the potential risk of capital loss and understand that there may be limited buyers for the underlying investments of the fund and who have sufficient resources to be able to bear losses (which may equal the whole amount invested).
You should seek independent professional advice before making any investment or financial decision.
The contents of this Website are not a financial promotion and none of the information on this Website should constitute an invitation or inducement to engage in investment activity. If and to the extent that this Website or any of its contents are deemed to be a financial promotion, Bluefield is relying on the exemption provided by Article 69 (Promotion of securities already admitted to certain markets) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005/1529 (the Order) in respect of the restriction at section 21 of the Financial Services and Markets Act 2000, or such other applicable exemption under the Order which may apply.
These materials are only addressed to and directed at persons in Eligible Member States who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/ EU, to the extent implemented in the Relevant Member State)) (“Qualified Investor”).
By accessing this website you are representing to Bluefield Solar Income Fund Limited (the “Company”) and its advisers that you are not: (i) a US Person (within the meaning of Regulation S under the US Securities Act of 1933, as amended the “Securities Act”) and are not acting on behalf of a US Person (within the meaning of Regulation S under the Securities Act), nor purchasing with a view to re-sale in the US or to or for the account of a US Person, and that you are not an employee benefit plan subject to the United States Employee Retirement Income Security Act of 1974 and the regulations promulgated thereunder (in each case as amended) (“ERISA”) (whether or not subject to the provisions of Title 1 of ERISA) or similar US laws or an individual retirement account as defined in section 408 of the US Internal Revenue Code; or (ii) a resident of Australia, Canada, Japan, the Republic of South Africa or a jurisdiction where the extension of availability of the materials to which you are seeking access would breach any applicable law or regulation, and that you will not: (x) offer, sell, renounce, transfer or deliver, directly or indirectly, Shares in the Company subscribed for by you in the United States, Australia, Canada, Japan, the Republic of South Africa, or any EEA State other than the Eligible Member States or in any jurisdiction in which such offers or sales are unlawful (“Excluded Territories”) or to any US Person or resident of Australia, Canada, Japan, the Republic of South Africa or any Excluded Territories, or: (y) release or otherwise forward, distribute or send any materials on this website in or into the United States, Australia, Canada, Japan, the Republic of South Africa or any Excluded Territories.
Shares offered by the Company have not been and will not be registered under the Securities Act or with any securities regulatory authority of any State or other jurisdiction of the United States and, subject to certain exceptions, may not be offered or sold within the United States or to, or for the account or benefit of, US Persons. The Company has not been and will not be registered as an “investment company” under the United States Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of that Act. In addition, relevant clearances have not been, and will not be, obtained from the securities commission (or equivalent) of any province of Australia, Canada, Japan, the Republic of South Africa or any Excluded Territories and, accordingly, unless an exemption under any relevant legislation or regulations is applicable, none of the Shares may be offered, sold, renounced, transferred or delivered, directly or indirectly, in Australia, Canada, Japan, the Republic of South Africa or any Excluded Territories.
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