TIDMGABI

RNS Number : 2806L

GCP Asset Backed Income Fund Ltd

18 July 2017

GCP Asset Backed Income Fund Limited ("GCP Asset Backed" or the "Company")

LEI 213800FBBZCQMP73A815

Conversion of C Shares

The Company has committed to invest c.90% of the proceeds of the recent C share issue in accordance with its investment policy and consequently the Directors have determined that the conversion of the C shares will take place, in accordance with the provisions of the Articles and as summarised in the prospectus dated 20 January 2017.

It is currently expected that conversion will occur in accordance with the following timetable:

 
Conversion Calculation Date        17 July 
 Announcement of Conversion Ratio   28 July 
Conversion Date                    1 August

Dealings in the new ordinary shares arising on conversion are currently expected to commence, and the listing of the C shares to be cancelled, at 8.00 am on 1 August 2017.

On this basis the Company will make an application for the new ordinary shares to be admitted to the Official List and to trading on the London Stock Exchange from the same time and date.

This announcement contains inside information.

For further information, please contact:

 
Gravis Capital Management Limited                               + 44 (0) 20 3405 8500 
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 Hayns                         victoriah@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

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July 18, 2017 02:00 ET (06:00 GMT)

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