Foresight Solar notes "underperformance", says weighing "all" options

Foresight Solar Fund Ltd on Tuesday said it is "frustrated" by its ongoing share price discount and "is considering all strategic options", after reporting a lower NAV and steady dividend for its first half.

The London-based investment company, which invests in solar and battery storage assets, has declared an annual dividend of 8.10 pence per share in the first half of 2026, unchanged from the previous year.

Its net asset value is £517.9 million or 94.9p per share as of June 30, down from £603.8 million or 108.5p per share one year prior.

Shares in Foresight Solar were up 0.4% at 71.80p in London early on Tuesday afternoon.

The company's gross asset value was £908.0 million at June 30, down on-year from £1.01 billion. Earnings before interest, tax, depreciation and amortisation for the six months decreased on-year from £57.7 million from £66.5 million.

Chair Tony Roper commented: "The board recognises the continued underperformance in the company's share price and NAV which the board believes is due to a combination of externally driven market factors which are outside of the company's control, as well as a number of company specific challenges, including the issues we have had with tax forecasting disclosed previously and current need to settle historical tax liabilities.

"The board does not believe that a meaningful change in market sentiment is likely within any reasonable time frame given the persistent structural and macroeconomic challenges affecting the alternative asset segment of the UK investment trust market and accordingly the board believes it must now act decisively to address the challenges faced by the company.

"The board is frustrated that shareholders continue to suffer from a share price that has traded at a material discount to NAV for a prolonged period and are resolute in the view that change must be accelerated to address the situation.

"Accordingly, the board is considering all strategic options to maximise value for shareholders in an effective and timely manner. We will gather opinions of shareholders on possible outcomes over the coming weeks."

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