Ceiba Investments Limited First day of dealings, unaudited NAV & Voting (7355E)
October 22 2018 - 2:18AM
UK Regulatory
TIDMCBA
RNS Number : 7355E
Ceiba Investments Limited
22 October 2018
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO ANY US PERSONS OR IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN, OR ANY
OTHER JURISDICTION, OR TO ANY PERSON, WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF APPLICABLE LAW.
22 October 2018
CEIBA INVESTMENTS LIMITED
(the "Company" or "CEIBA")
FIRST DAY OF DEALINGS, UNAUDITED NAV AT 30 SEPTEMBER 2018 AND
TOTAL VOTING RIGHTS
Further to the announcement on 17 October 2018, CEIBA
Investments Limited is pleased to announce that trading in its
shares commenced at 8.00am today on the Specialist Fund Segment of
the Main Market of the London Stock Exchange ("Admission").
The Company has successfully raised GBP30 million through the
Initial Issue of 30,000,000 new shares at a price of 100 pence per
share, capitalising CEIBA at approximately GBP137 million (based on
the IPO issue price). The Company is trading under the ticker "CBA"
(ISIN: GG00BFMDJH11).
Aberdeen Asset Investments Limited (part of Aberdeen Standard
Investments) is the investment manager of the Company.
Unaudited Net Asset Value at 30 September 2018
The Company also announces its unaudited Net Asset Value ("NAV")
per ordinary share of USD1.62 (GBP124 pence) as at 30 September
2018. (See note 1 below)
Total Voting Rights
The total number of Ordinary Shares in the Company in issue
immediately following Admission is 137,671,576, each with equal
voting rights. This total voting rights figure can be used by
shareholders as the denominator for the calculations by which they
will determine whether they are required to notify their interest
in the Company under the Disclosure Guidance and Transparency Rules
of the Financial Conduct Authority.
Capitalised terms used but not defined in this announcement
shall have the meanings given to such terms in the Prospectus.
John Herring, Chairman of CEIBA Investments Limited, said:
"I am delighted that we have been able to attract GBP30 million
of investment, which will allow CEIBA to commence implementation of
its investment programmes in Cuba. We also look forward to having
Aberdeen Standard Investments as our investment manager and
appreciate the significant contribution that ASI has made to
realising CEIBA's successful launch on the Specialist Fund Segment
of the London Stock Exchange's main market.
"We aim to continue our record of successful investment in Cuba
as the economy continues to grow and develop."
For further information, please contact:
N+1 Singer Tel: +44 (0)20 7496
James Maxwell / James Moat (Corporate 3000
Finance)
James Waterlow (Sales)
Aberdeen Standard Investments Tel: +44 (0)20 7463
James Thorneley (Head of Communications) 6000
Note 1: The unaudited NAV per ordinary share at 30 September
2018 is unadjusted and does not reflect the proceeds of the Initial
Issue received by the Company on Admission. US Dollar figures have
been converted to Sterling at the applicable US Dollar / Sterling
exchange rate on the relevant date.
NOTES TO EDITORS
About CEIBA Investments Limited
CEIBA Investments Limited, a country fund with a primary focus
on Cuban real estate, provides an opportunity for investors to gain
exposure to Cuban commercial real estate, hotels and other assets,
during a window of opportunity which is likely to have a limited
time horizon as relationships between Cuba and the international
community, and particularly the U.S., continue to improve. It aims
to provide investors with a regular level of income and substantial
capital growth, mainly through the investment in, and management
of, its Cuban portfolio.
Since 2001, when the current management team were appointed, the
Company has grown from $19 million to $175 million (including $92
million new capital raised) and distributed approximately $80
million in dividends. Over the past 5 years the Company has
achieved an annualised total shareholder return of 15.2% in US
dollar terms and 19.5% in sterling terms. Following Admission, the
Company is targeting a 4% annual dividend yield and a total
shareholder return of between 12.5% and 17.5% per annum (both in US
dollar terms).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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