TIDMSCRF
RNS Number : 6997C
SME Credit Realisation Fund Limited
21 October 2020
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, IN OR INTO THE UNITED STATES OR TO US PERSONS
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014.
******
21 October 2020
SME Credit Realisation Fund Limited
(the "Company")
PUBLICATION OF NAV AND RETURN OF CAPITAL
Net Asset Value ("NAV")
At 30 September 2020, the NAV attributable to the shares of SME
Credit Realisation Fund Limited was GBP179.25 million (30 June
2020: GBP191.38 million). The NAV per Share as at 30 September 2020
was 83.86 pence (30 June 2020: 80.18 pence).
The total NAV return for the period 1 July 2020 to 30 September
2020 was 6.23%.
The Company has published its quarterly factsheet to the end of
September 2020, containing information about the Company's
financial position, performance and prospects, which is available
at the Company's website at
https://www.smecreditrealisation.com/documents/factsheets .
Return of capital
The Company intends to continue returning surplus cash to
shareholders on a quarterly basis; that is broadly speaking loan
principal and interest receipts, less operating expenses, less any
FX margin reserve maintenance requirements.
Dividend declaration
The Company announces that it has declared a quarterly dividend
of 1.3125 pence per share payable in November 2020. The ex-dividend
date is 29 October 2020 with a record date of 30 October 2020 and a
payment date of 20 November 2020.
Compulsory share redemption
The Company will return approximately GBP42 million to
shareholders by way of a compulsory partial redemption of shares
(the "Redemption") at 83.86 pence per share, being the NAV per
share as at 30 September 2020, with payment on 10 November 2020
(the "Redemption Date"). On this basis, approximately 23.4% of each
registered shareholding will be redeemed on 28 October 2020 (the
"Redemption Record Date").
As at today's date, the Company has 213,739,800 shares in issue.
The Company holds no shares in treasury.
Fractions of shares will not be redeemed and so the number of
shares to be redeemed for each shareholder will be rounded down to
the nearest whole number of shares.
All shares that are redeemed will be cancelled with effect from
the Redemption Record Date. Accordingly, once redeemed, shares will
be incapable of transfer.
The shares will all be disabled in CREST after close of business
on the Redemption Record Date and the existing ISIN number
GG00BMT81R29 (the "Old ISIN") will expire.
The new ISIN number GG00BMF75J31 (the "New ISIN") in respect of
the remaining shares which have not been redeemed will be enabled
and available for transactions from and including the following
business day, 29 October 2020. The November 2020 dividend payment
will be payable after the Redemption Record Date to shareholders of
the remaining shares with the new ISIN number.
Up to and including the Redemption Record Date, shares will be
traded under the Old ISIN and as such, a purchaser of such shares
would have a market claim for a proportion of the redemption
proceeds. CREST will automatically transform any open transactions
as at the Redemption Record Date into the New ISIN.
Return of capital timetable
Redemption Record Date and expiry of old 28 October 2020
ISIN
New ISIN enabled 29 October 2020
-----------------
Ex-dividend date 29 October 2020
-----------------
Dividend record date 30 October 2020
-----------------
Redemption monies paid (expected) to uncertificated 10 November 2020
holdings and certificated holdings
-----------------
Dividend payment date 20 November 2020
-----------------
CONTACTS
Richard Boleat, Chairman
+44 (0) 1534 615 656
Richard.Boleat@smecreditrealisation.com
Secretary and Administrator
Sanne Group (Guernsey) Limited
+44 (0) 1481 739810
smecreditrealisation@sannegroup.com
Corporate Broker
Numis Securities
Nathan Brown
+44 (0) 207 260 1000
n.brown@numis.com
Investor Relations
IR@smecreditrealisation.com
Website
www.smecreditrealisation.com
The ISIN number of the Ordinary Shares is GG00BMT81R29, the
SEDOL code is BMT81R2 and the TIDM is SCRF.
The LEI number of the Company is 549300ZQIYQVNIZGOW60.
ABOUT SME Credit Realisation Fund Limited
The Company is a registered closed-ended collective investment
scheme registered pursuant to the Protection of Investors
(Bailiwick of Guernsey) Law, 1987, as amended and the Registered
Collective Investment Scheme Rules 2018 issued by the Guernsey
Financial Services Commission ("GFSC").
*****
IMPORTANT NOTICES
This announcement contains "forward-looking" statements, beliefs
or opinions. These forward-looking statements involve known and
unknown risks and uncertainties, many of which are beyond the
control of the Company and all of which are based on its directors'
current beliefs and expectations about future events.
Forward-looking statements are sometimes identified by the use of
forward-looking terminology such as "believes", "expects", "may",
"will", "could", "should", "shall", "risk", "intends", "estimates",
"aims", "plans", "predicts", "projects", "continues", "assumes",
"positioned" or "anticipates" or the negative thereof, other
variations thereon or comparable terminology, or by discussions of
strategy, plans, objectives, goals, future events, assumptions or
intentions. These forward-looking statements include all matters
that are not historical facts. Forward-looking statements may and
often do differ materially from actual results. They appear in a
number of places throughout this announcement and include
statements regarding the intentions, beliefs or current
expectations of the Board or the Company with respect to future
events and are subject to risks relating to future events and other
risks, uncertainties and assumptions relating to the Company's
business concerning, amongst other things, the financial
performance, liquidity, prospects, growth and strategies of the
Company. These forward-looking statements and other statements
contained in this announcement regarding matters that are not
historical facts involve predictions. No assurance can be given
that such future results will be achieved; actual events or results
may differ materially as a result of risks and uncertainties facing
the Company. Such risks and uncertainties could cause actual
results to vary materially from the future results indicated,
expressed or implied in such forward-looking statements. The
forward-looking statements contained in this announcement speak
only as of the date of this announcement. Nothing in this
announcement is, or should be relied on as, a promise or
representation as to the future. The Company disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained in this
announcement to reflect any change in its expectations or any
change in events, conditions or circumstances on which such
statements are based unless required to do so by applicable law,
the Prospectus Rules, the Listing Rules or the Disclosure Rules and
Transparency Rules of the FCA. No statement in this announcement is
intended as a forecast or profit estimate.
Neither this announcement nor any copy of it may be made or
transmitted into the United States of America (including its
territories or possessions, any state of the United States of
America and the District of Columbia) (the "United States"), or
distributed, directly or indirectly, in the United States or to US
Persons (as such term is defined in Regulation S under the US
Securities Act of 1933, as amended (the "Securities Act"). Neither
this announcement nor any copy of it may be taken or transmitted
directly or indirectly into Australia, Canada, Japan or South
Africa or to any persons in any of those jurisdictions, except in
compliance with applicable securities laws. Any failure to comply
with this restriction may constitute a violation of United States,
Australian, Canadian, Japanese or South African securities laws.
The distribution of this announcement in other jurisdictions may be
restricted by law and persons into whose possession this
announcement comes should inform themselves about, and observe, any
such restrictions. This announcement 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 securities
in the United States, Australia, Canada, Japan or South Africa or
in any jurisdiction to whom or in which such offer or solicitation
is unlawful.
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END
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October 21, 2020 02:00 ET (06:00 GMT)
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