Sherborne Investors (Guernsey)C Ltd Statement re Investment Update (8512X)
May 07 2021 - 1:00AM
UK Regulatory
TIDMSIGC
RNS Number : 8512X
Sherborne Investors (Guernsey)C Ltd
07 May 2021
Sherborne Investors (Guernsey) C Limited
LEI 213800L8QL59OCFOCB40
This announcement contains inside information
7 May 2021
Sherborne Investors (Guernsey) C Limited
Investment Update
The board of Sherborne Investors (Guernsey) C Limited (the
"Company") has been notified by Sherborne Investors Management LP
("Sherborne Investors") that funds managed by it have disposed of
their entire 6.01% shareholding in Barclays PLC ("Barclays").
Sherborne Investors has informed the Company that it believes
that the risk of and rewards from a new investment opportunity that
it has identified offers a better return to the Company's
shareholders than a continuing investment in Barclays. As provided
for in the partnership agreement of SIGC, LP (Incorporated) (the
"Partnership") and the Company's investment process as set out in
its prospectus, the independent board of the Company (the "Board")
has reviewed Sherborne Investors' recommendation of a new
investment and, following Board approval, Sherborne Investors has
initiated investment into securities of the new target company.
Sherborne Investors has advised the Company that its turnaround
assumptions indicate a potential return on the investment in line
with Sherborne Investors' customary return objectives, and the
investment thesis underlying this will be discussed with
shareholders once a disclosable shareholding has been
accumulated.
Sherborne Investors manages funds for various clients, including
the Partnership, a limited partnership in which the Company has
invested. Sherborne Investors is the parent of Sherborne Investors
Management (Guernsey) LLC, the investment manager of the
Partnership.
Giving effect to the transactions, the current Net Asset Value
of the Company is approximately GBP550 million, or 79p per
share.
The person responsible for making this announcement is Nick
Robilliard of Apex Fund and Corporate Services (Guernsey) Limited
("Apex"), Company Secretary.
-Ends-
Enquiries:
FTI Consulting +44 (0)20 3727 1000
Jonathon Brill
James Styles
Numis Securities Limited (Broker) +44 (0)20 7260 1000
David Benda
Nathan Brown
Sherborne Investors (Guernsey) C Limited +44 (0)14 8173 5827
Talmai Morgan (Chairman)
Nick Robilliard (Apex, Company Secretary)
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