GCP Asset Backed Income Fund Ltd Conversion of C shares (3618M)
July 28 2017 - 1:00AM
UK Regulatory
TIDMGABI
RNS Number : 3618M
GCP Asset Backed Income Fund Ltd
28 July 2017
GCP Asset Backed Income Fund Limited ("GCP Asset Backed" or the
"Company")
LEI 213800FBBZCQMP73A815
Conversion of C shares
28 July 2017
Further to the announcement on 17 July 2017 by GCP Asset Backed,
which invests in asset backed loans; the Company today announces
the C shares will be converted into ordinary shares as described in
the prospectus issued on 20 January 2017, at the following
rate:
0.986468 ordinary shares for every C share (the "Conversion
Ratio")
On the basis of the Conversion Ratio, a holder of 1,000 C shares
will receive 986 ordinary shares.
Following conversion of the C shares, the enlarged number of
ordinary shares in issue will be 242,789,672
The record date for the conversion will be close of business on
31 July 2017.
The C shares will be cancelled with effect from 8.00am on 01
August 2017 and an application has been made for 78,177,589 new
ordinary shares to be admitted to the Official List and to trading
on the Main Market of the London Stock Exchange from the same time
and date.
Immediately following Admission, the Company will have
242,789,672 ordinary shares in issue and therefore the total voting
rights in the Company will be 242,789,672. This figure may be used
by shareholders as the denominator for the calculations by which
they may determine whether or not they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the FCA's Disclosure Guidance and Transparency
Rules.
Share certificates in respect of new ordinary shares are
expected to be dispatched in the week commencing 7 August 2017.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. 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 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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