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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