RM Secured Direct Lending PLC Conversion of C Shares (2976S)
23 June 2018 - 12:48AM
UK Regulatory
TIDMRMDL TIDMRMDC
RNS Number : 2976S
RM Secured Direct Lending PLC
22 June 2018
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED
STATES, AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER
JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
This announcement is not an offer to sell, or a solicitation of
an offer to acquire, securities in the United States or in any
other jurisdiction. Neither this announcement nor any part of it
shall form the basis of or be relied on in connection with or act
as an inducement to enter into any contract or commitment
whatsoever.
22 June 2018
RM Secured Direct Lending Plc
("RMDL" or the "Company")
LEI: 213800RBRIYICC2QC958
Conversion of C Shares
RMDL, an investment trust specialising in secured debt
investments, announces that as at 21 June 2018, it has deployed
GBP9.81 million of the proceeds of its C Share fundraising from
April 2018, including loans that are closed and those that have
binding commitments. This represents approximately 87% of the net
proceeds of the C share issue.
Accordingly, the Board is pleased to announce that the Company
intends to convert the C Shares into Ordinary Shares (the
"Conversion"). In the absence of unforeseen circumstances, the
Company expects the Calculation Date, being close of business on
the date on which the Conversion Ratio will be calculated, to fall
on 30 June 2018. The calculation of the Conversion Ratio will be
based on the net assets attributable to the Ordinary Shares and C
Shares as at close of business on 30 June 2018. The Conversion
Ratio is expected to be announced on or around 16 July 2018.
The Company intends to make a further announcement in due course
setting out the Conversion Ratio applying to the Conversion, the
expected date when such Conversion will occur and the number of new
Ordinary Shares to be issued.
Holders of C Shares, once converted, will not be entitled to
receive the Q1 2018 1.625 pence interim dividend that was declared
on the Ordinary Shares on 24 May 2018 which will be payable to
Ordinary Shares on the register on 8 June 2018 and is due to be
paid on 29 June 2018. Such holders will be entitled to the
quarterly dividend to be declared in due course on the Ordinary
Shares for the quarter ending 30 June 2018, being the first
dividend to be declared after the Conversion.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meanings given to them in the
prospectus published by the Company on 12 March 2018.
For further information, please contact:
RM Funds - Investment Manager
James Robson
Pietro Nicholls
Tel: 0131 603 7060
Nplus1 Singer Advisory LLP - Sponsor, Financial Adviser and
Broker
James Maxwell
Lauren Kettle
Tel: 020 7496 3000
Tulchan Group - Financial PR
James Macey White
Elizabeth Snow
Tel: 0207 353 4200
International Fund Management - AIFM
Chris Hickling
Shaun Robert
Tel: 01481 737600
PraxisIFM Fund Services (UK) Limited - Administrator and Company
Secretary
Anthony Lee
Ciara McKillop
Tel: 020 7653 9690
About RM Secured Direct Lending
RM Secured Direct Lending Plc is a closed-ended investment trust
established to invest in a portfolio of secured debt
instruments.
The Company aims to generate attractive and regular dividends
through loans sourced or originated by the Investment Manager with
a degree of inflation protection through index-linked returns where
appropriate. Loans in which the Company invests are predominantly
secured against assets such as real estate or plant and machinery
and/or income streams such as account receivables.
For more information, please see
https://rmdl.co.uk/investor-centre/
About RM Funds
RM Funds is a trading name of RM Capital Markets Limited ("RM").
RM is the Investment Manager to RM Secured Direct Lending PLC. RM
specialises in alternative credit fund management, sales &
trading, foreign exchange, and capital markets and advisory.
Founded in 2010, with offices in Edinburgh, and London, it has
transacted in excess of GBP50 billion of bonds and loans since its
inception, and advised or originated, structured and managed the
due diligence process for over GBP1 billion of Sterling credit
transactions and approximately EUR700 million of Euro based
transactions in each case since 2012.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCFKBDQQBKDQAB
(END) Dow Jones Newswires
June 22, 2018 10:48 ET (14:48 GMT)
Rm Infrastructure Income (LSE:RMII)
Historical Stock Chart
From Apr 2024 to May 2024
Rm Infrastructure Income (LSE:RMII)
Historical Stock Chart
From May 2023 to May 2024