Sequoia Economic Infra Inc Fd Ld Issue of Shares (9418F)
20 November 2020 - 6:00PM
UK Regulatory
TIDMSEQI
RNS Number : 9418F
Sequoia Economic Infra Inc Fd Ld
20 November 2020
20 November 2020
Sequoia Economic Infrastructure Income Fund Limited
(the "Company")
Issue of Shares in connection with the payment of Investment
Adviser fees
Issue of Shares in connection with the Scrip Dividend
Alternative
The Company announces that it has issued today 264,741 ordinary
shares of no par value each ("IA Shares") to Sequoia Investment
Management Company, the Company's Investment Adviser, in relation
to fees payable for the three month period ended 30 September 2020.
The IA Shares have been issued pursuant to the Investment Advisory
Agreement ("IAA"), details of which were disclosed in the
prospectus published by the Company on 10 February 2020.
The IA Shares are being issued at 105.4375 pence per share which
represents the closing ordinary share price, on 18 November 2020,
of 107.00 pence, less the dividend declared for the three month
period ended 30 September 2020 of 1.5625 pence per ordinary
share.
The Company further announces that it has issued 618,881
ordinary shares of no par value each to Shareholders electing under
the Company's scrip dividend alternative to receive ordinary shares
in lieu of cash for the interim dividend for the period from 1 July
2020 to 30 September 2020 ("Scrip Shares"). Elections under the
scrip dividend alternative were received in respect of 2.54% of the
ordinary shares in issue as at the record date of 23 October 2020.
The Scrip Shares are being issued at a price of 106.04 pence per
share as announced by the Company on 29 October 2020. When issued,
these Scrip Shares will rank pari passu with the existing ordinary
shares.
Applications will be made for the IA Shares and the Scrip Shares
(together, "New Shares") to be admitted to the premium segment of
the Official List, and to trading on the London Stock Exchange's
Main Market for listed securities ("Admission"). It is expected
that Admission will become effective and dealings in the New Shares
will commence at 8am on 27 November 2020. The New Shares will rank
pari passu with the ordinary shares already in issue.
Following Admission, the Company's issued share capital will
consist of 1,657,237,553 ordinary shares. Therefore, the total
number of voting rights of the Company is 1,657,237,553 and this
figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or of a change to their interest in, the
Company under the FCA's Disclosure and Transparency Rules.
Further information on the Company's scrip dividend scheme can
be found in the scrip dividend circular (the "Scrip Circular")
which is available on the Company's website to view and/or download
at http://www.seqifund.com . The Scrip Circular is also available
on the National Storage Mechanism website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism . Copies of
the Scrip Offer Circular are also available for inspection at
Sarnia House, Le Truchot, St Peter Port, Guernsey.
For further information please contact:
Sequoia Investment Management
Company
Steve Cook
Dolf Kohnhorst
Randall Sandstrom
Greg Taylor +44 (0) 20 7079 0480
Jefferies International Limited
(Corporate Broker & Financial
Adviser)
Neil Winward
Gaudi Le Roux +44 (0) 20 7029 8000
Tulchan Communications (Financial
PR)
Elizabeth Snow
Martin Pengelley
Deborah Roney +44 (0) 20 7353 4200
Praxis Fund Services Limited (Company
Secretary)
Matt Falla
Katrina Rowe +44 (0) 1481 755530
About Sequoia Economic Infrastructure Income Fund Limited
The Company is a Guernsey registered closed-ended investment
company that seeks to provide investors with regular, sustained,
long-term distributions and capital appreciation from a diversified
portfolio of senior and subordinated economic infrastructure debt
investments. The Company is advised by Sequoia Investment
Management Company Limited.
LEI: 2138006OW12FQHJ6PX91
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