Ranger Direct Lending Fund PLC Response to Third Oaktree Letter (2644N)
May 08 2018 - 1:00AM
UK Regulatory
TIDMRDL
RNS Number : 2644N
Ranger Direct Lending Fund PLC
08 May 2018
8 May 2018
For immediate release
Ranger Direct Lending Fund plc
("Ranger" or the "Company")
Response to Third Oaktree Letter
The Company notes the content of a letter released by Oaktree
Capital Management, L.P. ("Oaktree") on May 4th 2018.
There are clearly differences of opinion between the Board, a
number of Shareholders who support Ares as the new manager and
Oaktree. The Board believes that the content of the Oaktree letter
is factually incorrect and misinformed. The Board notes for the
record that Oaktree declined the offer of a discussion with Ares
which would have left Oaktree better informed. A number of other
Shareholders are taking up the offer of a dialogue with Ares.
Full details of the Ares proposal and all of the relevant
context of the Board's review process will be set out in a circular
to the Shareholders. Shareholders will have the opportunity to vote
with the benefit of all the relevant and accurate information.
The Company has noted that Shareholders accounting for 39 per
cent of the Company's share capital have indicated their support
for Ares as the new manager. This follows discussions with Ares by
those investors.
The Board also notes it has received requisitions from both
Oaktree and LIM Advisers to propose resolutions at the Company's
annual general meeting whereby each proposes the appointment of two
additional directors and, in the case of LIM Advisers, removal of
the chairman of the Company. The Company views this as further
evidence of certain shareholders seeking to impose their own agenda
for the future of the Company.
The Shareholder circular will be published shortly.
Contacts:
Ranger Direct Lending Fund plc Via Kinmont
Christopher Waldron (Chairman)
Kinmont Tel: +44 (0)20 7087 9134
Gavin Kelly
Liberum Tel: +44 (0)20 3100 2000
Joshua Hughes
Redleaf (for media enquiries) Tel: + 44 (0) 20 3757 6867
Robin Tozer ranger@redleafpr.com
This information is provided by RNS
The company news service from the London Stock Exchange
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