Blackstone/GSO Loan Financing Ltd Migration of listing (3424J)
28 June 2017 - 4:00PM
UK Regulatory
TIDMBGLF
RNS Number : 3424J
Blackstone/GSO Loan Financing Ltd
28 June 2017
Blackstone / GSO Loan Financing Limited
("BGLF" or the "Company")
28 June 2017
Migration to the Premium Segment of the Main Market of the
London Stock Exchange and listing on the Official List of the UK
Listing Authority
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN.
Background
BGLF's investment objective is to provide shareholders with
stable and growing income returns and to grow the capital value of
the investment portfolio by exposure predominantly to floating rate
senior secured loans directly and indirectly through collateralized
loan obligation securities and investments in loan warehouses. The
Company achieves its investment objective through its exposure to
Blackstone / GSO Corporate Funding. The Company is currently
admitted to trading on the Specialist Fund Segment of the London
Stock Exchange. Pursuant to the Company's investment policy, the
Company will not invest more than 10% of its total assets in other
UK-listed closed-ended investment funds.
BGLF is pleased to announce it has received confirmation from
the UK Listing Authority that it is eligible for a premium listing
on the Official List.
Accordingly, the Company has made applications to the UK Listing
Authority and the London Stock Exchange for listing on the Official
List and a transfer to trading from the Specialist Fund Segment to
the Premium Segment of the Main Market of the London Stock Exchange
in respect of 404,700,446 ordinary shares of no par value (the
"Migration").
The Premium Segment of the Main Market is an established market
which is accessible to a wide range of investors. Accordingly, the
Migration is anticipated to result in a broader investor base over
the longer term, which the Directors believe may enhance the
liquidity of its shares in the secondary market.
Since IPO, the Company has voluntarily complied with the Listing
Rules. However, as a Company whose shares are admitted to the
premium listing segment of the Official List, the Company will now
be required formally to comply with the Listing Rules, in
particular Chapter 15 of the Listing Rules for closed-ended
investment funds.
In addition, the Board has taken steps to facilitate the
Company's eligibility for inclusion in the FTSE UK Index Series
(the "Index") which, it is expected, should help raise the
Company's profile in the market. In particular, the Company has
applied to introduce an additional market quote for the shares on
the London Stock Exchange denominated in Sterling which would
satisfy one of the criteria for inclusion in the Index (the
"Sterling Quote"). The Sterling Quote will appear alongside the
Company's existing Euro market quote (the "Euro Quote") and there
will be no changes to the legal form or nature of the Company's
shares nor to the reporting currency of the Company's financial
statements (which will remain in Euros). For the avoidance of
doubt, shares traded under either quote will have the same currency
exposure, namely Euros.
The Company's existing ticker, ISIN and SEDOL will remain
unchanged. However, in connection with the Sterling Quote the
Company will introduce a new ticker and SEDOL with effect from
Admission, as set out below.
Euro Quote Sterling Quote
------- ------------- ---------------
ISIN JE00BNCB5T53 JE00BNCB5T53
------- ------------- ---------------
SEDOL BNCB5T5 BYXL0Y1
------- ------------- ---------------
Ticker BGLF BGLP
------- ------------- ---------------
All dividends will continue to be declared and paid in Euros.
Admission is expected to occur with effect from 8am on 29 June
2017.
- End -
Contacts:
BNP Paribas
Siobhan Lavery 01534 709 181
Fidante Capital
Katie Standley 020 7832 0900
N+1 Singer Advisory
LLP
Gillian Martin 020 7496 300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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