TIDMPBLT
RNS Number : 5650L
TOC Property Backed Lendng Tst PLC
20 July 2017
Embargoed for release: 20 July 2017 at 7.00am
This announcement has been issued by, and is the sole
responsibility of, the Company. This announcement is for
information only and does not constitute an offer or invitation to
underwrite, subscribe for or otherwise acquire or dispose of any
securities or investment advice in any jurisdiction in which such
an offer or solicitation is unlawful, including without limitation,
the United States, Australia, Canada, the Republic of South Africa
or Japan.
TOC PROPERTY BACKED LENDING TRUST PLC
(the "Company" or "PBLT")
Result of Placing
Further to the announcement dated 19 July 2017, the Board of
PBLT is pleased to announce the successful placing of 616,661
ordinary shares of 1 penny each in the Company ("New Ordinary
Shares") raising gross proceeds of GBP616,661.
The New Ordinary Shares were placed, subject to Admission, by
finnCap Ltd pursuant to the terms and conditions of the Share
Issuance Programme established under the prospectus issued by the
Company dated 24 January 2017.
The New Ordinary Shares will, when issued, be credited as fully
paid and will rank pari passu in all respects with the existing
ordinary shares.
Application has been made for the New Ordinary Shares to be
admitted to the premium segment of the Official List of the
Financial Conduct Authority and to trading on the main market of
the London Stock Exchange ("Admission"). It is expected that
Admission will become effective and unconditional dealings in the
New Ordinary Shares will commence at 8.00am on 24 July 2017.
Following Admission, the number of ordinary shares that the
Company has in issue will be 21,962,511. The total number of voting
rights of the Company will be 21,962,511 and this figure may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in the Company, under
the Disclosure Guidance and Transparency Rules.
The New Ordinary Shares will be issued in registered form and
may be held in uncertificated form. The New Ordinary Shares will be
issued to Placees through the CREST system unless otherwise stated
and will be eligible for settlement through CREST with effect from
Admission.
For further information regarding the Company (LEI:
213800EXPWANYN3NEV68) please call:
TOC Property Backed
Lending Trust PLC
Stephen Black +44 (0) 191 222 0099
Tier One Capital Ltd
(Investment Adviser)
Ian McElroy +44 (0) 191 222 0099
finnCap Ltd (Sponsor,
Broker and Financial
Adviser)
William Marle / Grant
Bergman / Giles Rolls +44 (0) 207 220 0500
Maitland Administration
Services (Scotland)
Limited (Secretary)
Martin Cassels +44 (0) 131 550 3760
Notes to Editors:
TOC Property Backed Lending Trust PLC is a closed-end investment
company. Its investment objective is to provide shareholders with a
consistent and stable income and the potential for an attractive
total return over the medium to long term while managing downside
risk through: (i) a diversified portfolio of fixed rate loans
predominantly secured over land and/or property in the UK; and (ii)
in many cases, receiving the benefit of an associated profit share
usually obtained by acquiring (at nil cost) a minority equity stake
in the relevant borrower project development vehicle.
The Company's investment adviser is Tier One Capital Limited
("Tier One" or the "Investment Adviser"). Tier One was launched by
former Barclays Wealth and Coutts & Co directors Stephen Black
and Ian McElroy in early 2013. Both Stephen and Ian have extensive
credit experience, much of which was gained in a difficult
financial climate. Tier One has developed a direct lending offering
that provides an opportunity which sits between conventional
lending and the emerging peer-to-peer platform market. Tier One
uses its direct lending and credit expertise to source funds for
borrowers, broker facility agreements and then offer continued
support and guidance to borrowers through the lifespan of their
loan.
IMPORTANT INFORMATION
finnCap Ltd ("finnCap"), which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority, is acting
for the Company and for no-one else in relation to the proposed
placing of Ordinary Shares ("Placing Shares") in the capital of the
Company (the "Placing"), and will not be responsible to any other
person for providing the protections afforded to its clients nor
for providing advice in connection with the matters contained in
this announcement. No representation or warranty, express or
implied, is or will be made as to, or in relation to, and no
responsibility or liability is or will be accepted by finnCap, or
by its Affiliates or agents, as to or in relation to, the accuracy
or completeness of this announcement or any other written or oral
information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed.
The distribution of this announcement and the placing of the
Placing Shares as set out in this announcement may be restricted by
law in certain jurisdictions. No action has been taken by the
Company or finnCap that would permit an offering of the Placing
Shares or possession or distribution of this announcement or any
other offering or publicity material relating to the Placing Shares
in any jurisdiction where action for that purpose is required.
Persons into whose possession this announcement comes are required
by the Company and finnCap to inform themselves about, and to
observe, such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of
any such jurisdiction.
MEMBERS OF THE PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE
PLACING. THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE TERMS
AND CONDITIONS SET OUT HEREIN (TOGETHER, THIS "ANNOUNCEMENT") ARE
DIRECTED ONLY AT PERSONS WHOSE ORDINARY ACTIVITIES INVOLVE THEM IN
ACQUIRING, HOLDING, MANAGING AND DISPOSING OF INVESTMENTS (AS
PRINCIPAL OR AGENT) FOR THE PURPOSES OF THEIR BUSINESS AND WHO HAVE
PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS AND ARE:
(1) IF IN A MEMBER STATE OF THE EUROPEAN ECONOMIC AREA ("EEA"),
QUALIFIED INVESTORS AS DEFINED IN ARTICLE 2.1(E) OF DIRECTIVE
2003/71/EC AS AMENDED, INCLUDING BY THE 2010 PROSPECTUS DIRECTIVE
AMENDING DIRECTIVE (DIRECTIVE 2010/73/EC) AND TO THE EXTENT
IMPLEMENTED IN THE RELEVANT MEMBER STATE (THE "PROSPECTUS
DIRECTIVE"); (2) IF IN THE UNITED KINGDOM, QUALIFIED INVESTORS AND
(A) FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS
ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE "ORDER")
(INVESTMENT PROFESSIONALS) OR (B) ARE PERSONS WHO FALL WITHIN
ARTICLE 49(2)(A) TO (D) (HIGH NET WORTH COMPANIES, UNINCORPORATED
ASSOCIATIONS, ETC.) OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING
REFERRED TO AS "RELEVANT PERSONS").
THIS ANNOUNCEMENT AND THE INFORMATION IN IT MUST NOT BE ACTED ON
OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. PERSONS
DISTRIBUTING THIS ANNOUNCEMENT MUST SATISFY THEMSELVES THAT IT IS
LAWFUL TO DO SO. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH
THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND
WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. THIS ANNOUNCEMENT
DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY
SECURITIES IN TOC PROPERTY BACKED LENDING TRUST PLC.
This announcement is not for distribution, directly or
indirectly, in or into the United States (including its territories
and possessions, any State of the United States and the District of
Columbia).
This announcement does not constitute or form part of an offer
of, or solicitation to purchase or subscribe for, securities in the
United States. The Placing Shares may not be offered, sold or
transferred, directly or indirectly, within the United States
absent registration under the US Securities Act of 1933 (the
"Securities Act") or an exemption therefrom. The Company has not
registered and does not intend to register any of the Placing
Shares under the Securities Act. No money, securities or other
consideration is being solicited from any person inside the United
States and, if sent in response to the information herein, will not
be accepted. The Placing Shares will not be offered or sold to the
public in the United States.
Any indication in this announcement of the price at which
Ordinary Shares have been bought or sold in the past cannot be
relied upon as a guide to future performance. No statement in this
announcement is intended to be a profit forecast and no statement
in this announcement should be interpreted to mean that the
earnings per share of the Company for the current or future
financial years would necessarily match or exceed the historical
published earnings per share of the Company.
The price of Ordinary Shares and the income from them may go
down as well as up and investors may not get back the full amount
invested on disposal of the Placing Shares.
Neither the content of the Company's website (or any other
website) nor the content of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this announcement.
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation (EU) No
596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIDMGMNNLZGNZM
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July 20, 2017 02:00 ET (06:00 GMT)
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