TIDMCIFU TIDMCIFR
RNS Number : 7856O
Carador Income Fund PLC
22 May 2018
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR IN OR INTO THE UNITED STATES, ANY
MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED
KINGDOM OR IRELAND), CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH
AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION
OR RELEASE WOULD BE UNLAWFUL.
22 May 2018
Carador Income Fund plc (the "Company")
Partial Compulsory Redemption of Repurchase Pool Shares
This announcement contains inside information
Further to the approval given by the Company's Shareholders to
enable compulsory redemptions of the Repurchase Pool Shares (as
described in the Prospectus dated 11 October 2017), the Company
today announces that it will return c. US$4,500,000 by way of a
compulsory partial redemption of up to 5,930,416 Repurchase Pool
Shares (the "Fourth Redemption") on 31 May 2018 (the "Redemption
Date"). Approximately 8.5845% of the existing Repurchase Pool
Shares will be redeemed.
The Fourth Redemption will be effected at US$0.7588 per
Repurchase Pool Share, being the NAV per Repurchase Pool Share as
at 30 April 2018. The Fourth Redemption will be effected pro rata
to holdings of Repurchase Pool Shares on the register at the close
of business on the Redemption Record Date, being 31 May 2018. As at
today's date, the Company has 69,083,186 Repurchase Pool Shares in
issue, of which none is held in treasury.
On this basis, a holder of 10,000 Repurchase Pool Shares will
have 858 Repurchase Pool Shares redeemed, and receive US$651.05 in
cash.
Fractions of Repurchase Pool Shares will not be redeemed and so
the number of Repurchase Pool Shares to be redeemed for each
shareholder will be rounded down to the nearest whole number of
Repurchase Pool Shares.
The amount to be applied to the partial redemption of Repurchase
Pool Shares comprises monies from the Company's existing cash
balances.
All Repurchase Pool Shares that are redeemed will be cancelled
with effect from the relevant Redemption Date. Accordingly, once
redeemed, Repurchase Pool Shares will be incapable of transfer.
The Repurchase Pool Shares will be disabled in CREST after close
of business on the Redemption Date and the existing ISIN number
IE00BYWQZX11 (the "Old ISIN") will expire.
The new ISIN number IE00BD9H2R32 (the "New ISIN") in respect of
the remaining Repurchase Pool Shares which have not been redeemed
will be enabled and available for transactions from and including 1
June 2018.
Up to and including the Redemption Date, Repurchase Pool Shares
will continue to be traded under the Old ISIN and as such, a
purchaser of such Repurchase Pool Shares would have a market claim
for a proportion of the redemption proceeds. CREST will
automatically transform any open transactions as at the Redemption
Date into the New ISIN.
Shareholders should note that the Board retains absolute
discretion as to the execution, extent and timing of any further
redemptions.
Expected timetable for redemption:
Redemption Record Date 31 May 2018
Redemption Date and expiry of 31 May 2018
Old ISIN number
------------
New ISIN number enabled 1 June 2018
------------
Redemption monies paid to uncertificated 8 June 2018
holdings and certificated holdings
------------
Capitalised terms used but not defined in this announcement
shall bear the meanings ascribed to them in the Prospectus dated 11
October 2017.
Enquiries:
Jessica Mayer Tel: +44 20 7758 9028
GSO / Blackstone
Investor Relations and Client Service
Sam Battye Tel: +353 1 7766 589
State Street Fund Services (Ireland) Limited
Company Secretary
John Armstrong-Denby/Nick Donovan Tel: +44 20 7832 0900
Fidante Capital
James Maxwell/ Liz Yong Tel: +44 20 7496 3000
N+1 Singer
IMPORTANT INFORMATION
This announcement has been prepared by, and is the sole
responsibility of, the directors of the Company.
Nplus1 Singer Advisory LLP ("N+1 Singer") and Fidante Capital
("Fidante") are each acting only for the Company in connection with
the matters described in this announcement and is not acting for or
advising any other person, or treating any other person as its
client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of N+1
Singer nor Fidante or advice to any other person in relation to the
matters contained herein.
This announcement should not be taken as an inducement to engage
in any investment activity and is for the purpose of providing
information about the Company. This announcement does not
constitute or form part of, and should not be construed as, any
offer for sale or subscription of, or solicitation of any offer to
buy or subscribe for, any share in the Company or securities in any
other entity, in any jurisdiction, including the United States, any
member state of the European Economic Area (other than the United
Kingdom or Ireland), Canada, Japan or South Africa nor shall it, or
any part of it, or the fact of its distribution, form the basis of,
or be relied on in connection with, any contract or investment
decision whatsoever, in any jurisdiction.
This announcement, and the information contained therein, is not
for viewing, release, distribution or publication in or into the
United States, any member state of the European Economic Area
(other than the United Kingdom or Ireland), Canada, Japan, South
Africa or any other jurisdiction where applicable laws prohibit its
release, distribution or publication, and will not be made
available to any national, resident or citizen of the United
States, any member state of the European Economic Area (other than
the United Kingdom or Ireland), Canada, Japan or South Africa.
The distribution of this announcement in other jurisdictions may
be restricted by law and persons into whose possession this
announcement comes must inform themselves about, and observe, any
such restrictions. Any failure to comply with the restrictions may
constitute a violation of the federal securities law of the United
States and the laws of other jurisdictions.
The shares issued and to be issued by the Company (the "Shares")
have not been and will not be registered under the US Securities
Act of 1933, as amended (the "Securities Act"), or with any
securities regulatory authority of any state or other jurisdiction
of the United States. The Shares may not be offered, sold, resold,
pledged, delivered, distributed or otherwise transferred, directly
or indirectly, into or within the United States, or to, or for the
account or benefit of, US persons (as defined in Regulation S under
the Securities Act). No public offering of the Shares is being made
in the United States.
The Company has not been and will not be registered under the US
Investment Company Act of 1940, as amended (the "Investment Company
Act") and, as such, holders of the Shares will not be entitled to
the benefits of the Investment Company Act. No offer, sale, resale,
pledge, delivery, distribution or transfer of the Shares may be
made except under circumstances that will not result in the Company
being required to register as an investment company under the
Investment Company Act. Neither the U.S. Securities and Exchange
Commission (the "SEC") nor any state securities commission has
approved or disapproved of the Shares or passed upon or endorsed
the merits of the offering of the Shares or the adequacy or
accuracy of the Prospectus. Any representation to the contrary is a
criminal offence in the United States. In addition, the Shares are
subject to restrictions on transferability and resale in certain
jurisdictions and may not be transferred or resold except as
permitted under applicable securities laws and regulations.
Investors may be required to bear the financial risks of their
investment in the Shares for an indefinite period of time. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdictions.
This announcement may include "forward-looking statements". All
statements other than statements of historical facts included in
this announcement, including, without limitation, those regarding
the Company's financial position, investment strategy, plans and
objectives are forward-looking statements.
Forward-looking statements are subject to risks and
uncertainties and accordingly the Company's actual future financial
results and performance may differ materially from the results and
performance expressed in, or implied by, the statements. These
forward-looking statements speak only as at the date of this
announcement. The Company expressly disclaims any obligation or
undertaking to update or revise any forward-looking statements
contained herein to reflect actual results or any change in the
assumptions, conditions or circumstances on which any such
statements are based unless required to do so by the Financial
Services and Markets Act 2000, the Prospectus Rules of the
Financial Conduct Authority or other applicable laws, regulations
or rules.
The Company is an investment company with variable capital
incorporated under the laws of Ireland and authorised by the
Central Bank of Ireland as a professional investor fund. A copy of
the Company's prospectus and key information document may be
obtained from the website of the Company at www.carador.co.uk.
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
CASPGUWGAUPRGQG
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