GCP Asset Backed Income Fund Ltd Result of Placing (5467O)
November 08 2016 - 1:00AM
UK Regulatory
TIDMGABI
RNS Number : 5467O
GCP Asset Backed Income Fund Ltd
08 November 2016
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO
AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OF
AMERICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.
8 November 2016
GCP Asset Backed Income Fund Ltd (the "Company")
Result of Placing
Further to the announcement by the Company on 2 November the
Board is pleased to announce that 14,964,734 new ordinary shares
will be issued at a price of 104.5 pence raising gross proceeds of
approximately GBP15.6 million. The Board is pleased to announce
that the Placing has been substantially oversubscribed.
The net proceeds of the Placing will be used to take advantage
of attractive investment opportunities identified by the Investment
Manager, Gravis Capital Partners LLP.
Applications have been made in respect of 14,964,734 new
ordinary shares to be admitted to trading on the London Stock
Exchange's Main Market for listed securities and to listing on the
Premium Listing segment of the Official List of the UK Listing
Authority ("Admission"). It is expected that Admission will become
effective and dealings in the new ordinary shares will commence at
8.00 a.m. (London time) on 10 November.
The new ordinary shares will, when issued, rank pari passu in
all respects with the existing ordinary shares, including in
respect of the right to receive all future dividends and
distributions declared, made or paid by reference to a record date
falling after their issue. For the avoidance of doubt, subscribers
for new ordinary shares pursuant to the Placing will not be
entitled to the dividend of 1.5 pence per ordinary share in respect
of the quarterly period ended 30 September 2016 announced on 19
October 2016 for which the record date was 28 October.
Following Admission, the Company's issued share capital will
consist of 164,612,083 ordinary shares of no par value. With effect
from 10 November 2016, the total number of issued shares with
voting rights will be 164,612,083.
The above figure of 164,612,083 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 of a change to
their interest in the Company under the FCA's Disclosure Guidance
and Transparency Rules.
This announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
For further information, please contact:
Gravis Capital Partners LLP +44 (0)20 7518 1490
David Conlon david.conlon@gcpuk.com
Philip Kent philip.kent@gcpuk.com
Dion Di Miceli dion.dimiceli@gcpuk.com
Cenkos Securities plc +44 (0)20 7397 8900
Tom Scrivens tscrivens@cenkos.com
Oliver Packard opackard@cenkos.com
Sapna Shah sshah@cenkos.com
Buchanan +44 (0)20 7466 5000
Charles Ryland charlesr@buchanan.uk.com
Vicky Watkins victoriaw@buchanan.uk.com
Notes to Editors
The Company
The Company is a closed ended investment company traded on the
Main Market of the London Stock Exchange. Its investment objective
is to generate attractive risk-adjusted returns primarily through
regular, growing distributions and modest capital appreciation over
the long term.
The Company seeks to meet its investment objective by making
investments in a diversified portfolio of predominantly UK based
asset backed loans which have contracted, predictable medium to
long term cash flows and/or physical assets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIFMMGMRNGGVZM
(END) Dow Jones Newswires
November 08, 2016 02:00 ET (07:00 GMT)
Gcp Asset Backed Income (LSE:GABI)
Historical Stock Chart
From Apr 2024 to May 2024
Gcp Asset Backed Income (LSE:GABI)
Historical Stock Chart
From May 2023 to May 2024
