17 May 2018
GLOBAL FIXED INCOME REALISATION LIMITED
(a closed-ended investment company incorporated in Guernsey with registration number 45717)
RESULT OF TENDER OFFER
The Board of Global Fixed Income Realisation Limited announces the following in respect of the Tender Offer announced on 27 April 2018:
· 25,595,838 Shares were validly tendered for repurchase under the Tender Offer, equivalent to 97.2% of the 26,346,039 Shares in issue.
· Registered holders of Shares on the Tender Record Date of 16 May 2018:
- Who validly tendered a percentage of Shares equal to or less than the Basic Entitlement will have all such Shares purchased in full under the Tender Offer; and
- Who validly tendered a percentage of Shares greater than the Basic Entitlement will have purchased their Basic Entitlement in full plus 1.1599% of their validly tendered Shares in excess of their Basic Entitlement.
· After taking account of the rounding down of each applicant's participation to the nearest whole Share, the Company will purchase in aggregate 12,527,549 Shares under the Tender Offer.
· The Tender Price is £0.319295, representing an approximately 28% premium to the closing price of the Shares on the Tender Record Date. The board estimates that the NAV per Share will be subject to a non-material uplift as a result of the Tender Offer.
· All Shares purchased pursuant to the Tender Offer will be cancelled and subsequently the Company's issued share capital will be 13,818,490.
· The proceeds of the Tender Offer are scheduled to be distributed by cheque on 23 May 2018.
The Company intends to hold a shareholder roundtable to discuss the Company's strategic direction on 26 June 2018. Shareholders interested in attending this meeting should contact Numis, the Company's corporate broker. The meeting will be open only to Qualified Investors1.
Numis Securities Limited
Nathan Brown, Corporate Broking and Advisory
Tel. +44 (0) 20 7260 1426
Email: [email protected]
Praxis Fund Services Limited
Tel. +44 (0)1481 737 600
1 As defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended).
Capitalised terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Circular.
This announcement and the information contained herein is not for publication, release or distribution, directly or indirectly, in or into the United States, Australia, Canada, Japan or South Africa or any jurisdiction in which the same would be unlawful.
This announcement is for information purposes only and does not constitute an invitation to tender shares or otherwise acquire or dispose of securities in the Company in any jurisdiction.
Numis Securities Limited ("Numis"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting for the Company and is acting for no-one else in connection with any tender offer declared by the Company 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 any tender offer by the Company or any other matter referred to herein. To the fullest extent permitted by law recipients agree that Numis shall not have any liability (direct or indirect) for or in connection with this announcement or any matters arising out of or in connection herewith. Numis has not authorised the contents of, or any part of, this announcement.
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.
This information is provided by RNS