TIDMRDL

RNS Number : 0537B

Ranger Direct Lending Fund PLC

30 March 2017

30 March 2017

Ranger Direct Lending Fund PLC

(the "Company")

C Share Conversion Ratio and Timetable

Further to its announcement made on 22 March 2017, the Company is pleased to provide the following information regarding the conversion of its C shares into ordinary shares.

Conversion Ratio

The net asset values ("NAVs") attributable to the ordinary shares and the C shares as at the Calculation Date, being the close of business on 24 March 2017, were GBP12.44 per ordinary share and GBP9.84 per C share respectively.

The Conversion Ratio, as calculated in accordance with the Company's articles of association and the prospectus dated 16 December 2016, is 0.7910 ordinary shares for every one C share held as at close on the conversion record date of 6 April 2017. On the basis of the Conversion Ratio, a holder of 1,000 C shares will receive 791 ordinary shares upon conversion. The aggregate entitlement of a holder of C shares to new ordinary shares will be rounded down to the nearest whole share. No fractions of new ordinary shares will be issued.

The new ordinary shares arising on conversion will rank pari passu with, and will have the same rights as, the ordinary shares already in issue.

Expected Timetable

The expected timetable for conversion remains as follows:

 
Record date for conversion and closure of C share register                            5.30 p.m. 6 April 2017 
Cancellation of C shares                                                              7 April 2017 
Dealings in new ordinary shares commences                                             8.00 a.m. 7 April 2017 
CREST accounts credited with new ordinary shares in uncertificated form               7 April 2017 
Share certificates in respect of new ordinary shares in certificated form dispatched  By 21 April 2017

A further announcement will be made in due course.

Enquiries:

 
 Capita Company Secretarial 
  Services Limited                +44 (0)20 7954 9531 
 Secretary 
 
 Ranger Alternative Management    via Redleaf Communications 
  II, LP 
 Scott Canon 
 Bill Kassul 
 
 Liberum Capital Limited          +44(0)20 3100 2000 
 
 Media enquiries 
 Redleaf Communications           +44 (0)20 7382 4730 
 Rebecca Sanders-Hewett 
 David Ison

END OF ANNOUNCEMENT

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 30, 2017 09:24 ET (13:24 GMT)

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