US Solar Fund Plc

USFP

GB00BJCWFX49

Investment Trusts

Market Closed - London S.E. Other stock markets 16:35:05 17/05/2024 BST			5-day change	1st Jan Change
39.25 ^GBX	0.00%		+1.95%	-8.40%

04-24	EARNINGS AND TRADING: Nichols trading in line; Ondine revenue doubles	AN
04-24	US Solar Fund Plc Decides to Reduce the Target Dividend for 2024	CI

US Solar Fund terminates formal sales process, cites no adequate offer

May 12, 2023 at 09:54 am

(Alliance News) - US Solar Fund PLC on Friday said it terminated the formal sales process as it received no offer it deemed suitable.

The company said it had not yet received a formal asset sale proposal that it would consider in the best interest of its shareholders, as it gave an update on its strategic review posted in October.

US Solar Fund is an investment company focusing on owning and operating solar power assets in North America.

The company announced the strategic review in October. It said the review was due to "a sustained discount in its share price relative to its underlying net asset value" on Friday.

US Solar Fund added that it received a possible all share offer, which it rejected, regarding a sale at a significant discount to its last reported net asset value.

In March, the company reported a NAV, as at December 31, of USD0.963 per share, down from USD0.970 at September 30.

US Solar Fund shares were 4.2% lower at 62.00 pence each in London on Friday morning.

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about US Solar Fund Plc

EARNINGS AND TRADING: Nichols trading in line; Ondine revenue doubles	04-24	AN
US Solar Fund Plc Decides to Reduce the Target Dividend for 2024	04-24	CI
US Solar Fund ups dividend despite drop in NAV	03-25	AN
US Solar Fund Plc Announces Dividend for the Fourth Quarter of 2023, Payable on 30 April 2024	03-25	CI
Two Rio Tinto execs sell GBP7.8 million in shares	12-27	AN
US Solar Fund expects NAV boost from renewable contracts	12-18	AN
US Solar Fund plc Announces Dividend for the Third Quarter of 2023, Payable on 29 December 2023	11-30	CI
US Solar Fund appoints new investment manager	11-17	AN
CPP reports new business wins for Blink division	31/10/23	AN
EARNINGS: Ukrproduct outlook uncertain amid war; Microlise revenue up	28/09/23	AN
US Solar Fund plc Announces Second Quarter 2023 Dividend, Payment Date of 27 October 2023	28/09/23	CI
US Solar Fund prefers Amber Infrastructure as new investment manager	21/08/23	AN
US Solar Fund notes continued improvement of underlying portfolio	07/08/23	AN
FTSE 100 Closes Up 0.2% Lifted by Oil Stocks	10/07/23	DJ
UK Long-Dated Gilt-Yields Rising Fast, Inverted Gilt Yield Curve Flattens	10/07/23	DJ
US Solar Fund announces plan to launch share buyback programme	10/07/23	AN
US Solar Fund Plc Provides Strategic Review Update	10/07/23	CI
US Solar Fund closes sale of 50% interest in Mount Signal 2	26/06/23	AN
MN8 Energy, Inc. completed the acquisition of a 50% stake in 200MW Operating Solar Plant Located in the Imperial Valley of Southern California from US Solar Fund Plc managed by New Energy Solar Manager Pty Limited for $52.2 million.	25/06/23	CI
US Solar Fund declares dividend on target despite value dip	30/05/23	AN
US Solar Fund plc Announces First Quarter 2023 Dividend, Payable on July 7, 2023	30/05/23	CI
FTSE 100 outperforms as Beazley, GSK shine	12/05/23	AN
TClarke extends gain; Eurocell slumps	12/05/23	AN
US Solar Fund terminates formal sales process, cites no adequate offer	12/05/23	AN
US Solar Fund Provides Strategic Review Update	12/05/23	CI

US Solar Fund plc is a United Kingdom-based renewable energy fund. The Companyâs investment objective is to provide investors with attractive, sustainable dividends along with an element of capital growth through its investment in a diversified portfolio of utility-scale solar power plants across North America and other Organization for Economic Co-operation and Development (OECD) countries in the Americas. The Company acquires or constructs, owns, and operates solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cash flows by selling electricity to creditworthy off takers under long-term power purchase agreements (PPAs). The Company is managed by New Energy Solar Manager, which has committed to 57 utility-scale solar assets, 55 of which are in the United States, totaling 1.2 gigawatts (GW). Its portfolio consists of about 41 projects across the United States.

Sector

Investment Trusts

Calendar

21/05/2024 - Annual General Meeting

More about the company

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.3925

Average target price

Consensus

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