Highbridge Tactical Credit Fund Ltd HCC Proceeds and Weekly Estimated NAV (3455P)
10 October 2019 - 1:35AM
UK Regulatory
TIDMHTCF
RNS Number : 3455P
Highbridge Tactical Credit Fund Ltd
09 October 2019
09 October 2019
HIGHBRIDGE TACTICAL CREDIT FUND LIMITED
(the "Company")
Receipt of HCC Proceeds and temporary cessation of Weekly
Estimated Net Asset Value
The Board of the Company is pleased to announce that the Company
has received GBP127,089,563 (the "HCC Proceeds") in connection with
the partial redemption of the Company's holding in Highbridge
Multi-Strategy Fund Corporation ("HCC"), made as a result of the
Initial Cash Exit Offer and Subsequent Cash Exit Offer. This amount
represents approximately 75% of the assets of the Highbridge
Multi-Strategy Master Fund, L.P. (into which HCC invested
substantially all of its investable assets) attributable to former
shareholders of the Company who redeemed their Shares pursuant to
the Initial Cash Exit Offer and/or the Subsequent Cash Exit Offer
("2019 Cash Exit Offers"). An announcement concerning the amount to
be paid to each former shareholder who redeemed under the 2019 Cash
Exit Offers will be made later this week.
In addition, due to the transition of the Company's investments
from HCC to the 1992 Tactical Credit Fund, Ltd., the Company
announces that the next estimated unaudited Net Asset Value ("NAV")
per Ordinary Share to be published will be calculated as at 30
September 2019. This is expected to be before the end of October.
In the intervening period the publication of a weekly estimated
unaudited NAV will temporarily cease, to be resumed following the
publication of the estimated unaudited NAV as at 30 September
2019.
Terms used and not defined in this announcement will bear the
meanings given in the circular dated 28 August 2019.
Enquiries:
Praxis Fund Services Limited
Company Secretary
Tel: +44 (0) 1481 737 600
Katie Standley, J.P. Morgan Asset Management (UK)
Tel: 0207 134 6220
LEI: 213800397SYHLYFH5961
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END
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