GCP Asset Backed Income Fund Ltd Result of Placing (0328K)
December 11 2018 - 2:00AM
UK Regulatory
TIDMGABI TIDMGABC
RNS Number : 0328K
GCP Asset Backed Income Fund Ltd
11 December 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN OR INTO CANADA,
JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES
OF AMERICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER
THE MARKET ABUSE REGULATION (EU) NO. 596/2014
11 December 2018
GCP Asset Backed Income Fund Limited
("GCP Asset Backed" or the "Company")
LEI 213800FBBZCQMP73A815
Result of Placing
On 5 December 2018, GCP Asset Backed, which invests in asset
backed loans, announced details of a placing of ordinary shares
(the "New Shares") at a price of 104.50 pence per New Share
targeting gross proceeds in excess of GBP10 million (the
"Placing").
Further to that announcement, the Company has received
applications in respect of 12,440,190 New Shares, raising gross
proceeds of GBP13.0 million for the Company.
The net proceeds of the Placing will be used to take advantage
of a pipeline of attractive asset backed finance investment
opportunities identified by the Investment Manager.
Application has been made for all of the New Shares to be
admitted to the premium listing segment of the Official List of the
UK Listing Authority and to trading on the London Stock Exchange's
main market for listed securities ("Admission"). It is expected
that Admission will take effect, and dealings in the New Shares
will commence, at 8.00 a.m. (London time) on 13 December 2018.
Share certificates in respect of the New Shares are expected to
be despatched in the week commencing 17 December 2018 or as soon as
possible thereafter.
Immediately following Admission, the Company will have
329,722,503 ordinary shares and 51,500,000 C shares in issue and
therefore the total voting rights in the Company will be
381,222,503. This figure may be used by shareholders as the
denominator for the calculations by which they may determine
whether or not they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Gravis Capital Management Limited +44 (0) 20 3405 8500
David Conlon
Dion Di Miceli
Cenkos Securities plc
Tom Scrivens +44 (0)20 7397 1915
Oliver Packard +44 (0)20 7397 1918
Sapna Shah +44 (0)20 7397 1922
Notes to Editors
The Company is a closed ended investment company traded on the
Main Market of the London Stock Exchange. Its investment objective
is to generate attractive risk-adjusted returns primarily through
regular, growing distributions and modest capital appreciation over
the long term.
The Company seeks to meet its investment objective by making
investments in a diversified portfolio of predominantly UK based
asset backed loans which have contracted, predictable medium to
long term cash flows and/or physical assets.
Important Information
The content of this announcement has been prepared by, and is
the sole responsibility of, GCP Asset Backed.
GCP Asset Backed is incorporated in Jersey under the Companies
(Jersey) Law 1991, as amended, on 7 September 2015 with registered
number 119412. The Company is regulated by the Jersey Financial
Services Commission (the "JFSC"). The JFSC is protected by both the
Collective Investment Funds (Jersey) Law 1988 and the Financial
Services (Jersey) Law 1998, as amended, against liability arising
from the discharge of its functions under such laws. The JFSC has
not reviewed or approved this announcement.
This announcement has been issued by and is the sole
responsibility of the Company. No representation or warranty,
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by,
Cenkos Securities plc or the Investment Manager or by any of their
affiliates or agents as to or in relation to the accuracy or
completeness of this announcement or any other written or oral
information made available to or publicly available to any
interested party or their advisers and any liability therefore is
expressly disclaimed.
Cenkos Securities plc, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting as
sole placing agent to the Company and is acting for no-one else in
connection with the Placing and the contents of this announcement
and will not be responsible to anyone other than the Company for
providing the protections afforded to clients of Cenkos Securities
plc nor for providing advice in connection with the Placing and the
contents of this announcement or any other matter referred to
herein.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ROIGGGWUPUPRGRU
(END) Dow Jones Newswires
December 11, 2018 02:00 ET (07:00 GMT)
Gcp Asset Backed Income (LSE:GABI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gcp Asset Backed Income (LSE:GABI)
Historical Stock Chart
From Apr 2023 to Apr 2024