GCP Asset Backed Income Fund
Limited
("GABI" or the
"Company")
LEI:
213800FBBZCQMP73A815
Initial Capital Distribution
Update
11
June 2024
The Board announces that in
connection with the initial capital distribution announced on 3
June 2024, the Company has compulsory redeemed as at close of
business on 10 June 2024 (the "Redemption Date") on a pro rate
basis 159,609,669 ordinary shares at a price of 89.66875 pence per
share, which was approximately 37.5% of the Company's ordinary
shares in issue.
Fractions of ordinary shares
produced by the applicable redemption ratio have not been redeemed
and therefore the number of shares redeemed in respect of each
shareholder has been rounded down to the nearest whole number of
shares.
Payments of redemption monies are
expected to be effected either through CREST (in the case of
ordinary shares held in uncertificated form) or by cheque (in the
case of ordinary shares held in certificated form) by 24 June 2024.
Any certificates currently in circulation will be superseded by a
new certificate which will be distributed to certificated
shareholders by 24 June 2024.
Following the redemption, the
Company has 266,016,390 ordinary shares in issue. Therefore, the
total number of voting rights is 266,016,390 and may be used by
shareholders as the denominator for determining if they are
required to notify their interest in, or a change to their interest
in the Company under the FCA's Disclosure Guidance and Transparency
Rules.
The new ISIN, JE00BMFX6989 (the "New
ISIN"), in respect of the remaining shares which have not been
redeemed, has been enabled and is available for transactions from
8.00 a.m. on 11 June 2024. CREST will automatically transform any
open transactions as at the Redemption Date into the New
ISIN.
For
further information, please contact:
|
GCP
Asset Backed Income Fund Limited
Alex Ohlsson, Chairman
|
+44 (0)15 3482 2251
|
|
Barclays Bank PLC, acting through its Investment Bank -
Financial Adviser and Corporate Broker
Adrian Beidas
Callum West
Stuart Muress (Corporate
Broking)
|
+44 (0)20 7623 2323
BarclaysInvestmentCompanies@barclays.com
|
|
Gravis Capital Management Limited - Investment
Manger
Philip Kent
Anthony Curl
Cameron Gardener
|
+44 (0)20 3405 8500
|
|
Buchanan/Quill - Media Enquiries
Helen Tarbet
Henry Wilson
George Beale
|
+44 (0)20 7466 5000
|
Notes to the Editor
About GABI
GCP Asset Backed Income Fund Limited
is a closed ended investment company. Its shares are traded on the
Premium Segment of the Main Market of the London Stock Exchange.
Its investment objective is to undertake a managed wind-down of the
Company and realise all existing assets in the Company's portfolio
in an orderly manner.
The Company's portfolio comprises a
diversified portfolio of predominantly UK based asset backed loans
which are secured against contracted, predictable medium to long
term cash flows and/or physical assets.
