TIDMLBOW
RNS Number : 6792I
ICG-Longbow Snr Sec UK Prop DebtInv
23 March 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN, INTO OR FROM,
THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA
OR JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.
This announcement does not constitute a recommendation regarding
any securities. Any investment in the shares referred to in this
announcement is made only on the basis of information contained in
the prospectus published on 27 April 2017 by ICG-Longbow Senior
Secured UK Property Debt Investments Limited (the
"Prospectus").
23 March 2018
ICG-Longbow Senior Secured UK Property Debt Investments
Limited
(the "Company")
Issue of Equity
Further to the announcement on 13 March 2018, the Company is
pleased to announce that it has raised GBP4.3 million through a
placing of 4,260,000 new Shares at 101 pence per share (the "New
Shares") pursuant to the terms and conditions of the Company's
placing programme set out in the Prospectus (the "Placing").
The Company intends to use the net proceeds of the Placing
towards funding its near term pipeline of investment opportunities,
including to fund further draw downs on existing loans.
Cenkos Securities plc ("Cenkos") is acting as the Company's sole
Placing Agent in relation to the Placing.
Applications have been made to the UKLA and the London Stock
Exchange for all of the 4,260,000 New Shares issued pursuant to the
Placing to be admitted to the Premium Listing segment of the
Official List and to trading on the London Stock Exchange's main
market for listed securities. It is expected that dealings will
commence on 27 March 2018.
The New Shares will, when issued and fully paid, include the
right to receive all dividends or other distributions made, paid or
declared, if any, by reference to a record date after the date of
their issue. The New Shares issued under the Placing will not be
entitled to the dividend of 1.5 pence per Share declared by the
Company on 13 March 2018 and payable to Shareholders on 20 April
2018.
Following the completion of the Placing there will be
121,302,779 Shares in issue. Each Share carries the right to one
vote and, therefore, the total number of voting rights in the
Company on Admission will be 121,302,779. This figure may be used
by Shareholders and other investors as the denominator for the
calculations by which they will determine 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.
Terms used and not defined in this announcement bear the meaning
given to them in the Prospectus.
For further information please contact:
Estera International Fund Managers (Guernsey)
Limited:
James Christie +44 (0)14 8174 2742
Cenkos Securities:
Tom Scrivens +44 (0)20 7397 1915
Oliver Packard +44 (0)20 7397 1918
Andrew Worne +44 (0)20 7397 1912
Will Rogers +44 (0)20 7397 1920
Alex Collins +44 (0)20 7397 1913
Maitland Consultancy Limited:
Seda Ambartsumian +44 (0)20 7379 5151
ICG-Longbow
Martin Wheeler +44 (0)20 3201 7502
David Mortimer +44 (0)20 3201 7532
Information to Distributors
Solely for the purposes of the product governance requirements
contained within: (a) EU Directive 2014/65/EU on markets in
financial instruments, as amended ("MiFID II"); (b) Articles 9 and
10 of Commission Delegated Directive (EU) 2017/593 supplementing
MiFID II; and (c) local implementing measures (together, the "MiFID
II Product Governance Requirements"), and disclaiming all and any
liability, whether arising in tort, contract or otherwise, which
any "manufacturer" (for the purposes of the MiFID II Product
Governance Requirements) may otherwise have with respect thereto,
the New Shares have been subject to a product approval process,
which has determined that such New Shares are: (i) compatible with
an end target market of retail investors and investors who meet the
criteria of professional clients and eligible counterparties, each
as defined in MiFID II; and (ii) eligible for distribution through
all distribution channels as are permitted by MiFID II (the "Target
Market Assessment"). Notwithstanding the Target Market Assessment,
Distributors should note that: the price of the New Shares may
decline and investors could lose all or part of their investment;
the New Shares offer no guaranteed income and no capital
protection; and an investment in the New Shares is compatible only
with investors who do not need a guaranteed income or capital
protection, who (either alone or in conjunction with an appropriate
financial or other adviser) are capable of evaluating the merits
and risks of such an investment and who have sufficient resources
to be able to bear any losses that may result therefrom. The Target
Market Assessment is without prejudice to the requirements of any
contractual, legal or regulatory selling restrictions in relation
to the Placing. Furthermore, it is noted that, notwithstanding the
Target Market Assessment, Cenkos will only procure investors who
meet the criteria of professional clients and eligible
counterparties.
For the avoidance of doubt, the Target Market Assessment does
not constitute: (a) an assessment of suitability or appropriateness
for the purposes of MiFID II; or (b) a recommendation to any
investor or group of investors to invest in, or purchase, or take
any other action whatsoever with respect to the New Shares.
Each distributor is responsible for undertaking its own target
market assessment in respect of the New Shares and determining
appropriate distribution channels.
ICG Longbow LEI: 2138008BKBH3OP2CA764
The content of this announcement has been prepared by, and is
the sole responsibility of, ICG-Longbow Senior Secured UK Property
Debt Investments Limited.
Neither the content of the Company's website nor any website
accessible by hyperlinks to the Company's website is incorporated
in, or forms part of, this announcement. The distribution of this
announcement and any other documentation associated with the
Placing into jurisdictions other than the United Kingdom may be
restricted by law. Persons into whose possession these documents
come should inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws or regulations of any
such jurisdiction.
In particular, such documents should not be distributed,
forwarded to or transmitted, directly or indirectly, in whole or in
part, in into or from the United States, Australia, Canada, Japan
or the Republic of South Africa or any other jurisdiction where to
do so may constitute a violation of the securities laws or
regulations of any such jurisdiction.
This announcement does not constitute or form part of, and
should not be considered as, any offer for sale or subscription of,
or solicitation of any offer to buy or subscribe for, any shares in
the Company or securities in any other entity, in any jurisdiction,
including the United States, 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, any contract or investment decision whatsoever, in
any jurisdiction.
Cenkos Securities plc ("Cenkos"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority,
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 Cenkos or advice to
any other person in relation to the matter contained herein.
None of Intermediate Capital Managers Limited (the "Investment
Adviser") or Cenkos, or any of their respective affiliates, accepts
any responsibility or liability whatsoever for or makes any
representation or warranty, express or implied, as to this
announcement, including the truth, accuracy or completeness of the
information in this announcement (or whether any information has
been omitted from the announcement) or for any loss howsoever
arising from any use of the announcement or its contents aside from
the responsibilities and liabilities, if any, which may be imposed
by FSMA, as amended or the regulatory regime established thereunder
or any other applicable regulatory regime. The Investment Adviser
and Cenkos and their respective affiliates, accordingly disclaim
all and any liability whether arising in tort, contract or
otherwise which they might otherwise have in respect of this
announcement or its contents or otherwise arising in connection
therewith.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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