Bluefield Solar Income Fund Offer for Subscription

[heathmount]

Hi

I hold Bluefield Solar Income and have been informed of an Offer for Subscription, details below. From what I can see this just seems to be an otpion to buy more shares at £1.18 (current price £1.20). I just want to check that there's nothing complicated in this and that I've not missed anything.

Essentially, if I do nothing, will I end up with the same number of shares at the same price paying the same dividend. Or are these shares I'm being given the offer to buy actually brand new shares that would end up diluting the dividend per share?

Offer details.....
Bluefield Solar Income Fund Limited has announced details of an open offer. Your account will be credited with a number of entitlements which can be exercised at a fixed price, with no dealing charges, to receive additional shares in the company.

Your account will be credited with 1 basic entitlement share for every 5 ordinary share you hold as of the ex-entitlement date, 30 June 2021. These entitlement shares are expected to be credited to your account on or around 1 July 2021 and this will form your basic entitlement, which will not be subject to scaling back.

You will also be credited with excess entitlement shares which will allow you to apply for shares in excess of your basic entitlement but excess applications are subject to scaling back.

Each entitlement share can be exercised at a price of GBP1.18 in order for you to receive 1 new ordinary share.

thanks
heathmount

[Alaric]

Essentially, if I do nothing, will I end up with the same number of shares at the same price paying the same dividend. Or are these shares I'm being given the offer to buy actually brand new shares that would end up diluting the dividend per share?

They are brand new shares. This type of offer appears commonplace amongst infrastructure ITs. They are raising money presumably so they can invest in a new project. There have been discussions about the dilution effect with other similar ITs.