TIDMHONY
RNS Number : 3950L
Honeycomb Investment Trust PLC
19 April 2018
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE
EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA,
AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF
THIS ANNOUNCEMENT WOULD BE UNLAWFUL.
This announcement is an advertisement only and does not
constitute a prospectus. Investors who wish to subscribe for or
purchase shares in the Company are reminded that any such
subscription or purchase should only be made on the basis of the
information contained in the Company's prospectus dated 25 May 2017
(as supplemented by a supplementary prospectus dated 8 March 2018
and any further supplement thereto) and not on the information
contained in this announcement. This is a financial promotion and
is not intended to be investment advice.
19 April 2018
Honeycomb Investment Trust plc
Proposed placing to raise up to GBP100 million
Honeycomb Investment Trust plc (the "Company") today announces
its intention to proceed with a placing of up to 9,523,809 ordinary
shares in the Company (the "Placing Shares") at an issue price of
GBP10.50 per share (the "Placing"), pursuant to the terms and
conditions of the placing programme set out in the Company's
prospectus published on 25 May 2017 (the "Prospectus") as
supplemented by a supplementary prospectus dated 8 March 2018 (the
"Supplementary Prospectus"). The Prospectus and the Supplementary
Prospectus have been submitted to the National Storage Mechanism
and are available at http://www.morningstar.co.uk/uk/NSM.
The net proceeds of the Placing will be deployed in line with
the Company's investment policy. Liberum Capital Limited
("Liberum") is acting as sole bookrunner in relation to the
Placing. The Placing is expected to close at 2.00 p.m. today, but
may close earlier or later at the absolute discretion of the
Company, in consultation with Liberum.
Application will be made to London Stock Exchange plc (the
"London Stock Exchange") for the Placing Shares to be admitted to
trading on the Specialist Fund Segment of the Main Market of the
London Stock Exchange ("Admission"). It is expected that Admission
will become effective and that dealings in the Placing Shares will
commence at 8.00 a.m. on 23 April 2018.
On 12 April 2018 the Company announced an interim dividend of
20.0 pence per ordinary share, payable on 29 June 2018 to
shareholders on the register on 20 April 2018. Ordinary shares were
marked ex-dividend in respect of the interim dividend today. The
Placing Shares will not be entitled to receive the interim dividend
but will rank pari passu in all other respects with the ordinary
shares currently in issue and will have the right to receive all
dividends and distributions declared by the Company following
Admission.
ENQUIRIES
For further information, please contact:
Pollen Street Capital Limited
Lindsey McMurray / Michael England / Matthew Potter
020 3728 6750
Boscobel & Partners
George Trefgarne / Charlotte Walsh / Georgia Way
020 3642 1310
Liberum Capital Limited
Chris Clarke / Henry Freeman / Louis Davies
020 3100 2000
IMPORTANT NOTICE
This is a financial promotion and is not intended to be
investment advice. This announcement, which constitutes a financial
promotion for the purposes of the Financial Services and Markets
Act 2000 and which has been prepared by, and is the sole
responsibility of, the Company, has been approved solely for the
purposes of section 21(2)(b) of the Financial Services and Markets
Act 2000 by a company that is authorised and regulated by the UK
Financial Conduct Authority ("FCA").
This announcement is an advertisement and does not constitute a
prospectus relating to the Company and does not constitute, or form
part of, any offer or invitation to sell or issue, or any
solicitation of any offer to purchase or subscribe for, any Placing
Shares in the Company in any jurisdiction nor shall it, or any part
of it, or the fact of its distribution, form the basis of, or be
relied on in connection with or act as any inducement to enter
into, any contract therefor.
The information contained in this announcement is for background
purposes only and does not purport to be full or complete.
Investors should not purchase or subscribe for any transferable
securities referred to in this announcement except on the basis of
information contained in the Prospectus and Supplementary
Prospectus (and any further supplement thereto). Copies of the
Prospectus and Supplementary Prospectus are available for viewing
at the National Storage Mechanism at
http://www.morningstar.co.uk/uk/NSM and on the Company's
website.
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
The Placing Shares are only suitable for investors: (i) who are
institutional, professional and highly knowledgeable (including
those who are professionally advised); (ii) for whom an investment
in the Placing Shares is part of a diversified investment
programme; and (iii) who fully understand and are willing to assume
the risks involved in such an investment, including the potential
risks of capital loss and that there may be limited liquidity in
the underlying investments of the Company. The value of shares and
the income from them is not guaranteed and can fall as well as rise
due to stock market and currency movements. When you sell your
investment you may get back less than you originally invested. If
you are in any doubt about the contents of this announcement you
should consult your accountant, legal or other professional adviser
or financial adviser. Past performance is not a guide to future
performance and the information in this announcement or any
documents relating to the Placing cannot be relied upon as a guide
to future performance.
Liberum Capital Limited, which is authorised and regulated by
the FCA, is acting only for the Company in connection with the
matters described in this announcement and is not acting for or
advising any other person, or treating any other person as its
client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of Liberum
Capital Limited or advice to any other person in relation to the
matters contained herein.
Neither Liberum Capital Limited nor Pollen Street Capital
Limited, nor any of their respective directors, officers,
employees, advisers or agents accepts any responsibility or
liability whatsoever for, or makes any representation or warranty,
express or implied, as to the truth, accuracy or completeness of,
the information in this announcement (or whether any information
has been omitted from this announcement) or any information
relating to the Company, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or any
loss howsoever arising from any use of this announcement or its
contents or otherwise in connection with it.
The Placing Shares have not been, nor will they be, registered
under the US Securities Act of 1933, as amended (the "Securities
Act") or with any securities regulatory authority of any state or
other jurisdiction of the United States or under the applicable
securities laws of any member state of the EEA (other than the
United Kingdom), Australia, Canada, Japan, or South Africa.
Accordingly, subject to certain exceptions, the Placing Shares may
not be offered or sold in any member state of the EEA (other than
the United Kingdom), the United States, Australia, Canada, Japan or
South Africa or to or for the account or benefit of any national,
resident or citizen of any member state of the EEA (other than the
United Kingdom), Australia, Canada, Japan, South Africa, the United
States or to, or for the account or benefit of US persons (as
defined in Regulation S under the Securities Act). The Placing and
the distribution of this announcement in other jurisdictions may be
restricted by law and the persons into whose possession this
announcement comes should inform themselves about, and observe, any
such restrictions.
The Company has not been, and will not be, registered under the
US Investment Company Act of 1940, as amended.
This announcement may include "forward-looking statements". All
statements other than statements of historical fact included in
this announcement, including, without limitation, those regarding
any target returns, are forward-looking statements. Forward-looking
statements are subject to risks and uncertainties and accordingly
the Company's actual future financial results and performance may
differ materially from the results and performance expressed in, or
implied by, the statements. These factors include but are not
limited to those described in the Prospectus and Supplementary
Prospectus. These forward-looking statements speak only as at the
date of this announcement. The Company expressly disclaims any
obligation or undertaking to update or revise any forward-looking
statements contained herein to reflect actual results or any change
in the assumptions, conditions or circumstances on which any such
statements are based unless required to do so by the Financial
Services and Markets Act 2000, the Listing Rules or Prospectus
Rules of the FCA or other applicable laws, regulations or
rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEFVLLFVZFBBBX
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