NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA,
CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR
JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE
THIS ANNOUNCEMENT.
18 July 2024
Odyssean Investment Trust
plc
Result of Placing and WRAP
Retail Offer
The Board of Odyssean Investment Trust plc
("OIT" or the "Company") is pleased to announce the
successful completion of the placing (the "Placing") and the WRAP retail offer
(the "WRAP Retail Offer")
(the Placing and WRAP Retail Offer together, the "Fundraising"), raising gross proceeds
of £11.4 million.
The Company will issue, subject to Admission
(defined below), a total of 6,542,159 new ordinary shares of 1
penny each in the capital of the Company ("Shares") (the "New Shares") at a price of 174 pence
per New Share (the "Issue
Price"), representing a 1.0% premium to the cum-income NAV
per Share as at 16 July 2024, being the last published NAV per
Share prior to the close of the Fundraising, as announced
yesterday.
6,181,118 New Shares will be issued pursuant to
the Placing and 361,041 New Shares will be issued pursuant to the
WRAP Retail Offer.
Admission and
Settlement
Applications have been made to the Financial
Conduct Authority for admission of the New Shares to the premium
segment of the Official List and to the London Stock Exchange for
admission to trading of the New Shares on its main market for
listed securities ("Admission"). It is expected that
Admission will become effective at or around 8.00 a.m. on 22 July
2024 and that dealings in the New Shares will commence at that
time.
The New Shares will, when issued, be
credited as fully paid and rank pari passu with the existing Shares,
including the right to receive all future dividends and
distributions declared, made or paid, with a record date on or
after the date of Admission.
Immediately following Admission, the Company's
issued share capital will consist of 130,069,212 Shares with voting
rights. This figure may be used by shareholders in determining the
denominator for the calculation by which they will establish if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
The Placing and the WRAP Retail Offer
are conditional on Admission becoming effective.
For further information please
contact:
Frostrow
Capital LLP (Company Secretary)
Mark Pope
|
+44 (0)20 3008
4913
|
|
|
Odyssean
Capital LLP (Portfolio Manager)
Stuart Widdowson
|
+44 (0)7710 031
620
|
|
|
Quill PR
(Financial PR)
|
+44 (0)7702 412
680
|
Sarah Gibbons-Cook
|
|
|
|
Winterflood
Securities Limited
|
+44 (0)20 3100
0257
|
Neil Langford
Joe Winkley
Darren Willis
Hugh Middleton
|
|
|
|
Winterflood
Retail Access Platform
Andrew Stancliffe
Sophia Bechev
|
WRAP@winterflood.com
+44(0) 20 3100
0286
|
The Company's LEI is:
213800RWVAQJKXYHSZ74
IMPORTANT
NOTICE
The content of this announcement has been
prepared by, and is the sole responsibility of, Odyssean Investment
Trust plc.
The information contained in this announcement
is given at the date of its publication and is subject to updating,
revision and amendment from time to time. Neither the content of
the Company's website nor any website accessible by hyperlinks to
the Company's website is incorporated in, or forms part of, this
announcement.
Winterflood, which is authorised and regulated
in the United Kingdom by the Financial Conduct Authority, is acting
only for the Company in connection with the matters described in
this announcement and is not acting for or advising any other
person, or treating any other person as its client, in relation
thereto and will not be responsible for providing the regulatory
protection afforded to clients of Winterflood or advice to any
other person in relation to the matters contained
herein.
The shares of the Company have not been, nor
will they be, registered under the US Securities Act of 1933, as
amended, or with any securities regulatory authority of any state
or other jurisdiction of the United States or under the applicable
securities laws of Australia, Canada, Japan, New Zealand or South
Africa. Further, the Company has not been and will not be
registered under the US Investment Company Act of 1940, as amended.
Subject to certain exceptions, the shares of the Company may not be
offered or sold in any member state of the EU, the United States of
America, Canada, Australia, Japan, New Zealand or South Africa or
to or for the account or benefit of any national, resident or
citizen of any member state of the EU, Canada, Australia, Japan,
New Zealand or South Africa or any person located in the United
States. The Placing and the distribution of this announcement in
other jurisdictions may be restricted by law and the persons into
whose possession this announcement comes should inform themselves
about, and observe, any such restrictions.
This announcement may include "forward-looking
statements". All statements other than statements of historical
facts included in this announcement, including, without limitation,
those regarding the Company's financial position, strategy, plans,
proposed acquisitions and objectives are forward-looking
statements.
Forward-looking statements are subject to risks
and uncertainties and accordingly the Company's actual future
financial results and operational performance may differ materially
from the results and performance expressed in, or implied by, the
statements. These forward-looking statements speak only as at the
date of this announcement. The Company, the Investment Manager and
Winterflood expressly disclaim any obligation or undertaking to
update or revise any forward-looking statements contained herein to
reflect actual results or any change in the assumptions, conditions
or circumstances on which any such statements are based unless
required to do so by the Financial Services and Markets Act 2000,
the Prospectus Regulation Rules of the Financial Conduct Authority
or other applicable laws, regulations or rules.