Highbridge Tactical Credit Fund Ltd Cash Exit Payment (8343C)
22 October 2020 - 2:42AM
UK Regulatory
TIDMHTCF
RNS Number : 8343C
Highbridge Tactical Credit Fund Ltd
21 October 2020
21 October 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS
UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR ANY COPY OF IT. THIS
ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED
STATES, CANADA, AUSTRALIA OR JAPAN.
Highbridge Tactical Credit Fund Limited
(the "Company")
Receipt of Shares in the Tactical Credit Fund and Fifth Cash
Exit Payments
Further to the Company's circulars to Shareholders dated 31 July
2019 and 28 August 2019, the Company has received confirmation from
Highbridge that it is to receive its fifth dividend-in-kind
distribution of approximately GBP0.91m of new shares in TCF Feeder.
This distribution represents approximately 23% of the remaining
assets of the HMS Master Fund attributable to the Continuation
Portfolio.
Further announcements will be made when further distributions
are received. The Company will continue to be a shareholder of the
Highbridge Multi-Strategy Fund Corporation (HCC) until all of the
assets of the HMS Master Fund have been liquidated.
Fifth Cash Distribution
The Company has received GBP3,223,235 from Highbridge in
connection with realisation of assets comprised in the Initial
Redemption Portfolio (created following the Initial Cash Exit
Offer) and the Redemption Portfolio (created following the
Subsequent Cash Exit Offer). This amount represents approximately
23% of the remaining assets of the HMS Master Fund attributable to
former shareholders of the Company who redeemed Shares pursuant to
the Initial Cash Exit Offer and/or the Subsequent Cash Exit Offer
("2019 Cash Exit Offers" and "Multi-Strat Creditors" as
applicable).
Accordingly, on or around 30 October 2020, approximately
GBP3,212,000 is expected to be paid to Multi-Strat Creditors,
equating to GBP0.039 per Share in respect of the 2019 Cash Exit
Offers.
Multi-Strat Creditors are reminded that following this
distribution they will receive future redemption proceeds as a
number of cash payments following receipt by the Company of the
redemption proceeds from HCC, and further announcements will be
made when any cash payment is to be made following the realisation
of any other assets comprised in the Redemption Portfolio.
For further information please contact:
Praxis Fund Services Limited
Company Secretary
Tel: +44 (0) 1481 737 600
LEI: 213800397SYHLYFH5961
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