GCP Asset Backed Income Fund Ltd Conversion of C Shares (3238H)
12 March 2018 - 6:00PM
UK Regulatory
TIDMGABI TIDMGABC
RNS Number : 3238H
GCP Asset Backed Income Fund Ltd
12 March 2018
GCP Asset Backed Income Fund Limited
("GCP Asset Backed" or the "Company")
LEI 213800FBBZCQMP73A815
Conversion of C Shares
The Directors of GCP Asset Backed, which invests in asset backed
loans, are pleased to announce the Company has now invested and
entered into legally binding commitments for over 90% of the
proceeds of the recent C share issue and within the six month
timeframe set out in the prospectus published by the Company on 25
September 2017.
The monies have been committed across 14 loans, including new
loans to sectors such as energy storage and regulated water thereby
providing further diversification to the Company's investment
portfolio.
Consequently, the Directors have determined that the conversion
of the C shares will take place, in accordance with the provisions
of the Articles and as summarised in the prospectus.
It is currently expected that conversion will occur in
accordance with the following timetable:
Conversion Calculation Date 31 March
Announcement of Conversion Ratio 16 April
Conversion Date 17 April
Dealings in the new ordinary shares arising on conversion are
currently expected to commence, and the listing of the C shares to
be cancelled, at 8.00 am on 17 April 2018.
On this basis the Company will make an application for the new
ordinary shares to be admitted to the Official List and to trading
on the London Stock Exchange from the same time and date.
This announcement contains inside information.
For further information, please contact:
Gravis Capital Management Limited + 44 (0) 20 3405 8500
David Conlon david.conlon@graviscapital.com
Philip Kent philip.kent@graviscapital.com
Dion Di Miceli dion.dimiceli@graviscapital.com
Cenkos Securities plc +44 (0)20 7397 8900
Tom Scrivens tscrivens@cenkos.com
Oliver Packard opackard@cenkos.com
Sapna Shah sshah@cenkos.com
Buchanan +44 (0)20 7466 5000
Charles Ryland charlesr@buchanan.uk.com
Vicky Hayns victoriah@buchanan.uk.com
Notes to Editors
The Company
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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