TIDMSEQI
RNS Number : 2215Y
Sequoia Economic Infra Inc Fd Ld
20 August 2018
THIS ANNOUNCEMENT IS NOT FOR RELEASE, DISTRIBUTION OR
PUBLICATION, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED
STATES (INCLUDING TO U.S. PERSONS, AS SUCH TERM IS DEFINED UNDER
REGULATION S OF THE US SECURITIES ACT OF 1933, AS AMED, THE
"SECURITIES ACT"), CANADA, AUSTRALIA, NEW ZEALAND, JAPAN OR THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
20 August 2018
Sequoia Economic Infrastructure Income Fund Limited
("SEQI" or the "Company")
Possible Equity Issue
As announced on 14 August 2018, SEQI, the specialist investor in
economic infrastructure debt, is fully invested with the Company's
total portfolio equivalent to 106.2 per cent. of NAV as at 31 July
2018 (or 121.1 per cent. when including committed but undrawn
amounts). As at 17 August 2018, SEQI had drawn a total of
approximately GBP110.8 million under its multi-currency credit
facility.
The Board of Directors (the "Board") further notes that Sequoia
Investment Management Company (the "Investment Adviser") continues
to see an attractive pipeline of investment opportunities which are
available for deployment. Accordingly, the Board is pleased to
announce that SEQI is considering a further issue of equity.
To the extent that the Board resolves to proceed with a capital
raise, any issue of shares will be at a price per share that is
accretive to NAV and is expected to include an adequate level of
pre-emption rights for the Company's existing shareholders. Any
such capital raise, including its structure, timing, size and
approval by the Board, will be subject to prevailing market
conditions. Further details will be announced in due course. Any
issue of shares will be subject to the approval of a prospectus by
the FCA.
The information contained in this announcement may constitute
inside information. The person responsible for arranging for the
release of this announcement on behalf of the Company is Praxis
Fund Services Limited.
For further information please contact:
LEI: 2138006OW12FQHJ6PX91
Sequoia Investment Management Company +44 (0)20 7079 0480
Steve Cook
Dolf Kohnhorst
Randall Sandstrom
Greg Taylor
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Neil Winward
Mark Bloomfield
Gaudi Le Roux
Praxis Fund Services Limited (Company Secretary) +44 (0)1481 755530
Matt Falla
IMPORTANT NOTICES
Neither this announcement nor the information contained herein
is for release, publication or distribution, directly or
indirectly, in or into the United States, South Africa, Canada,
Australia, New Zealand or Japan or any other jurisdiction where to
do so might constitute a violation of the relevant laws or
regulations of such jurisdiction. The securities referred to herein
have not been and will not be registered under the relevant
securities laws of any such excluded territory.
This announcement does not contain, constitute or form part of
an offer for sale of, resale of, transfer of or delivery of or the
solicitation of an offer to purchase directly or indirectly,
securities in the United States or to, or for the account or
benefit of a U.S. Person (as defined in Regulation S of the
Securities Act). The securities referred to herein have not been,
and will not, be registered under the Securities Act or any other
applicable securities laws of, or with any securities regulatory
authority of, any state or other jurisdiction of the United States,
and may not be offered, sold, resold, transferred or delivered,
directly or indirectly, in the United States or to, or for the
account or benefit of, any U.S. Person absent registration or an
applicable exemption from the registration requirements of the
Securities Act. Although the issuer does not intend to register any
part of the proposed offering in the United States, any public
offering in the United States would be made by means of a
prospectus that could be obtained from the issuer and would contain
detailed information about the company and management, as well as
financial statements. The Company has not been and will not be
registered under the U.S. Investment Company Act of 1940, as
amended, and neither International Fund Management (the "Investment
Manager") nor the Investment Adviser will be registered as an
investment adviser under the U.S. Investment Advisers Act of 1940,
as amended. Consequently, investors will not be entitled to the
benefits and protections of the U.S. Investment Company Act of
1940, as amended or the U.S. Investment Advisers Act of 1940, as
amended. The shares of the Company will be offered and sold only to
non-US persons outside the United States in reliance on Regulation
S under the Securities Act. There will be no offer of the Company's
securities in the United States. The distribution of this document
may also be restricted by law in other jurisdictions.
This announcement does not constitute or form part of, and
should not be construed as, any offer or invitation to sell, or any
solicitation of any offer to purchase or subscribe for any ordinary
shares or any other securities nor shall it (or any part of it) or
the fact of its distribution, form the basis of, or be relied on in
connection with, any contract or investment decision whatsoever, in
any jurisdiction. This announcement does not constitute a
recommendation regarding any securities.
The distribution of this announcement may be restricted by law
in certain jurisdictions and persons into whose possession any
document or other information referred to herein comes should
inform themselves about, and observe, any such restrictions. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction.
Subject to certain exceptions, the securities referred to herein
may not be offered or sold in the United States, South Africa,
Canada, Australia, New Zealand or Japan or to, or for the account
or benefit of, any national, resident or citizen of the United
States, Canada, Japan, Australia, New Zealand or South Africa.
There will be no offer of the ordinary shares in the United States,
Canada, South Africa, Japan, Australia or New Zealand.
Certain statements in this announcement are forward-looking
statements which are based on the Company's expectations,
intentions and projections regarding its future performance,
anticipated events or trends and other matters that are not
historical facts. These forward-looking statements, which may use
words such as "aim", "anticipate", "believe", "could", "intend",
"estimate", "expect", and words of similar meaning, include all
matters that are not historical facts. These forward-looking
statements involve risks, assumptions and uncertainties that could
cause the actual results of operations, financial condition,
liquidity and dividend policy and the development of the
industries, which the Company's businesses operate to differ
materially from the impression created by forward-looking
statements. These statements are not guarantees of future
performance and are subject to known and uncertain risks,
uncertainties and other factors that could cause actual results to
differ material from those express or implied by such
forward-looking statements. Given those risks and uncertainties,
prospective investors are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements speak only
as of the date of such statements and, except as required by the UK
Financial Conduct Authority, the London Stock Exchange or
applicable law, the Company undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
Stifel Nicolaus Europe Limited ("Stifel"), which is authorised
and regulated in the United Kingdom by the Financial Conduct
Authority, is acting exclusively for the Company and no-one else in
connection with the potential equity issue. Stifel will not regard
any other person as its client in relation to the potential issue
and will not be responsible to anyone other than the Company for
providing the protections afforded to its clients, nor for
providing advice in relation to the potential issue, the contents
of this announcement or any transaction, arrangement or other
matter referred to herein.
Neither Stifel nor any of its directors, officers, employees,
advisers, affiliates or agents accepts any responsibility or
liability whatsoever for/or makes any representation or warranty,
express or implied, as to the truth, accuracy or completeness of
the information in this announcement (or whether any information
has been omitted from the announcement) or any other information
relating to the Company or its subsidiary, whether written, oral or
in a visual or electronic form, and howsoever transmitted or made
available or for any loss howsoever arising from any use of the
announcement or its contents or otherwise arising in connection
therewith.
The Company is incorporated in Guernsey and has been registered
as a registered closed-ended collective investment scheme under the
Protection of Investors (Bailiwick of Guernsey) Law, 1987, as
amended. It is suitable only for professional or experienced
investors, or those who have taken appropriate professional
advice.
Regulatory requirements which may be deemed necessary for the
protection of retail or inexperienced investors, do not apply to
listed funds. By investing in the Company you will be deemed to be
acknowledging that you are a professional or experienced investor,
or have taken appropriate professional advice, and accept the
reduced requirements accordingly.
You are wholly responsible for ensuring that all aspects of the
Company are acceptable to you. Investment in listed funds may
involve special risks that could lead to a loss of all or a
substantial portion of such investment. Unless you fully understand
and accept the nature of the Company and the potential risks
inherent in it you should not invest in the Company.
Further information in relation to the regulatory treatment of
listed funds domiciled in Guernsey may be found on the website of
the Guernsey Financial Services Commission at
http://www.gfsc.gg/The-Commission/Pages/Home.aspx.
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
IOEEANPNFESPEEF
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