TIDMSCRF
RNS Number : 9006R
SME Credit Realisation Fund Limited
06 March 2023
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, IN OR INTO THE UNITED STATES OR ANY JURISDICTION IN WHICH THE
SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK MARKET ABUSE REGULATION.
******
6 March 2023
SME Credit Realisation Fund Limited
(the "Company")
PUBLICATION AND POSTING OF CIRCULAR
AND
TIMETABLE FOR SUSPENSION AND CANCELLATION OF THE COMPANY'S
LISTING AND TRADING AND VOLUNTARY WINDING-UP OF THE COMPANY
Further to the announcement made on 18 January 2023, the Company
announces the publication of a circular (the "Circular") and notice
of extraordinary general meeting (the "EGM"), which has been posted
to Shareholders for the purpose of proposing a vote on the
liquidation of the Company (the "Proposals"). The detailed reasons
for and background to the Proposals are set out in the Circular.
The Circular also contains details of the timetable for the
suspension and cancellation of the Company's listing and trading of
the Shares on the Main Market. In order for the Proposals to become
effective Resolution 1 must be approved by a majority of not less
than seventy-five per cent. of the votes cast by Shareholders who,
being entitled to vote, are present in person or by proxy at the
Extraordinary General Meeting while Resolutions 2 to 5 must be
approved by a simple majority of votes cast by Shareholders who,
being entitled to vote, are present in person or by proxy at the
Extraordinary General Meeting.
The Circular will be available to download from the Company
website ( https://www.smecreditrealisation.com/ ) and National
Storage Mechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)
shortly.
The current timetable for the Proposals are as follows:
Record date for participation and 11 a.m. on 22 March 2023
voting at the Extraordinary General
Meeting
Latest time and date for receipt 11 a.m. on 22 March 2023
of Form of Proxy for the Extraordinary
General Meeting*
Closing of the Company's register 6.30 p.m. on 23 March 2023
and record date for participation
in liquidation distributions
Suspension of listing and trading 7.30 a.m. on 24 March 2023
of the Shares
Extraordinary General Meeting 11 a.m. on 24 March 2023
Joint Liquidators appointed 24 March 2023
Announcement of results of the 24 March 2023
Extraordinary General Meeting
Cancellation of listing and trading 8 a.m. on 27 March 2023
of the Shares on the Main Market
Each of the times and dates in the expected timetable of events
may be extended or brought forward without notice. If any of the
above times and/or dates change materially, the revised time(s)
and/or date(s) will be notified to Shareholders by an announcement
through an RIS provider. All references are to London time unless
otherwise stated.
The Company's shares will be suspended from trading at 7:30 a.m.
on 24 March 2023 in advance of the EGM. Conditional on the approval
of Shareholders at the EGM, the Board proposes to appoint Andrea
Frances Alice Harris and Benjamin Alexander Rhodes of Grant
Thornton as Joint Liquidators of the Company (the "Joint
Liquidators").
Immediately upon and with effect from the appointment of the
Joint Liquidators at the GM, the powers of the Board will cease,
the Joint Liquidators will wind up the affairs of the Company, and
listing of the Ordinary Shares on the Official List and admission
to trading of the Ordinary Shares on the Main Market will be
cancelled with effect from 8.00 a.m. on 27 March 2023 following
which the Company's shares will no longer be tradeable.
CONTACTS
Frédéric Hervouet, Chairman
+44 (0)77 81 159 007
fred_hervouet@hotmail.com
Secretary and Administrator
Sanne Group ( Guernsey ) Limited
+44 (0) 1481 739810
smecreditrealisation@sannegroup.com
Corporate Broker
Numis Securities
Nathan Brown
George Shiel
+44 (0) 207 260 1000
Investor Relations
IR@smecreditrealisation.com
Website
www.smecreditrealisation.com
The ISIN number of the Ordinary Shares is GG00BKQN9M74, the
SEDOL code is BKQN9M7 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, 2020, as amended and the Registered
Collective Investment Scheme Rules and Guidance, 2021 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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