Foresight Solar weathers continuation vote despite 24% calling for closure

Strategic actions on the horizon

Almost a quarter of the investors in the Foresight Solar (FSFL) fund have voted for the trust to be discontinued on the back of its “significant” discount to net asset value.

A continuation vote at FSFL's AGM yesterday (12 June), saw 24.4% of shareholders opt for the company to be wound up, prompting Stifel analyst Iain Scouller to suggest several of the largest shareholders may have voted to end the fund's life. Based on the latest accounts, Scouller noted the largest shareholders in March were BlackRock, Gravis Capital, Cazenove Capital and Charles Stanley, who hold between 5% and 13% of the shares. Foresight Solar enters into BESS framework ahead of continuation vote However, Scouller added the level of votes in favour of discontinuation was "surpris...