Business
Publication and posting of scheme document
Bluefield Solar Income Fund Limited announced the publication of its scheme document regarding the recommended all-cash acquisition by Drax Smart Generation Holdco Limited, a subsidiary of Drax Group plc. The scheme of arrangement requires approval from a majority of shareholders present and voting at both the Court Meeting and the General Meeting, with at least 75% of votes cast in favour at each. The BSIF Directors unanimously recommend shareholders vote in favour of the acquisition, which is expected to become effective on July 31, 2026. Disclaimer*
About this update from Drax Group Plc
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION FOR IMMEDIATE RELEASE 29 June 2026 RECOMMENDED CASH ACQUISITION of BLUEFIELD SOLAR INCOME FUND LIMITED ("BSIF") by DRAX SMART GENERATION HOLDCO LIMITED ("DRAX BIDCO") (a wholly-owned subsidiary undertaking of Drax Group plc ("Drax")) to be effected by means of a court-sanctioned scheme of arrangement under Part VIII of the Companies (Guernsey) Law, 2008 (as amended) PUBLICATION AND POSTING OF SCHEME DOCUMENT On 1 June 2026, the boards of BSIF and Drax Bidco announced that they had reached agreement regarding the terms of a recommended all cash acquisition of BSIF by Drax Bidco pursuant to which Drax Bidco will acquire the entire issued share capital of BSIF (the "Acquisition"), to be implemented by way of a court-sanctioned scheme of arrangement under Part VIII of the Companies (Guernsey) Law, 2008 (as amended) (the "Scheme"). Publication of the Scheme Document The BSIF Directors are pleased to announce the publication of the scheme document in relation to the Acquisition (the "Scheme Document") which, together with the associated Forms of Proxy, is today being posted to BSIF Shareholders and persons with information rights. Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Document. All references to times in this announcement are to London, United Kingdom times unless stated otherwise. The Scheme Document contains, amongst other things, a letter from the Chair of BSIF, the full terms and conditions of the Scheme, an explanatory statement in compliance with section 108 and Part VIII of the Companies Law, an expected timetable of principal events, notices of the Court Meeting and the General Meeting and details of the actions to be taken by Scheme Shareholders entitled to vote at the Court Meeting and BSIF Shareholders entitled to vote at the General Meeting in relation to the Acquisition. In addition, in accordance with the requirements of Rule 29 of the Code, the Scheme Document contains a valuation report in respect of BSIF's portfolio of renewable energy assets from Forvis Mazars confirming the valuation as at 31 March 2026 prepared by Bluefield in conn...