Source - RNS
RNS Number : 9336K
GCP Asset Backed Income Fund Ltd
16 April 2018
 

 

GCP Asset Backed Income Fund Limited

 

(the "Company" and/or "GCP Asset Backed")

 

LEI 213800FBBZCQMP73A815

Conversion of C shares

16 April 2018 

Further to the announcement on 12 March 2018 by GCP Asset Backed, which invests in asset backed loans, the Company today announces that the C shares will be converted into ordinary shares as described in the prospectus issued on 25 September 2017, at the following rate:

0.978718 ordinary shares for every C share (the "Conversion Ratio")

On the basis of the Conversion Ratio, a holder of 1,000 C shares will receive 978 ordinary shares.

Following conversion of the C shares, the enlarged number of ordinary shares in issue will be 316,599,679.

The record date for the conversion will be close of business on 16 April 2018.

The C shares will cease to exist on conversion and an application has been made for 73,403,850 new ordinary 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 from 8.00am on 17 April 2018.

Immediately following Admission, the Company will have 316,599,679 ordinary shares in issue and therefore the total voting rights in the Company will be 316,599,679. 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.

Share certificates in respect of new ordinary shares are expected to be dispatched in the week commencing 23 April 2018.

For further information, please contact:                                                                           

Gravis Capital Management Limited  

 

+ 44 (0)20 3405 8500

David Conlon

[email protected]

 

Philip Kent

[email protected]scapital.com

 

Dion Di Miceli

[email protected]

 

 

Cenkos Securities plc

 

   

+44 (0)20 7397 8900

Tom Scrivens

[email protected]

 

Oliver Packard

[email protected]

 

Sapna Shah                                      

[email protected]

 

 

Buchanan

 

  

+44 (0)20 7466 5000

Charles Ryland

[email protected]

                 

Henry Wilson

[email protected]
 

 

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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