Terra Capital PLC Compulsory Redemption of Shares (2189V)
2018年7月20日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMTCA
RNS Number : 2189V
Terra Capital PLC
20 July 2018
TERRA CAPITAL PLC (THE "COMPANY")
COMPULSORY REDEMPTION OF SHARES
Legal Entity Identifier: 2138006S6U2X7L4R8V74
20 July 2018
Further to the Company's previous announcements and as per the
Compulsory Redemption mechanism outlined in the Company's Circular
dated 15 June 2018 (the "Circular"), the Company advises that it
will return to Shareholders by way of a compulsory partial
redemption of Ordinary Shares an amount of approximately $36.8
million.
The Investment Manager continues to realise the portfolio of
investments and the Board expects to announce a second redemption
early in quarter four of 2018.
The percentage of Ordinary Shares being redeemed has been
determined at the Directors' sole discretion and does not relate to
the percentage of proceeds being distributed following the
realisation of the Company's portfolio. The number of Ordinary
Shares to be redeemed in aggregate in this first redemption will
represent 60 per cent. of the Company's issued share capital (the
"Redemption") as at close of business on Wednesday 25 July 2018
(the
"Redemption Record Date"). .
Payment will be made on 31 July 2018 being the redemption
payment date (the "Redemption Payment Date"). The Redemption Price
will be $1.109 for each Ordinary Share being redeemed (the
"Redemption Price").
The Redemption Price has been determined based on the Net Asset
Value as at 30 June 2018 which was announced to the market on 16
July 2018. As the Company is now operating as a realisation
company, the calculation of the Net Asset Value included an
estimate of liquidation costs and a provision for fees and expenses
expected to be incurred in realising the assets. As at 30 June 2018
these provisions amounted to 1.90 per cent. of NAV.
The Redemption will be effected pro rata to the holdings of
Ordinary Shares on the register at the close of business on the 25
July 2018, being the Redemption Record Date. No fractions of
Ordinary Shares will be redeemed and the number of Ordinary Shares
to be redeemed for each Shareholder will be rounded down to the
nearest whole number of Ordinary Shares as appropriate.
All existing Ordinary Shares will be traded under the existing
ISIN number IM00B1GJR404 (the "Old ISIN") until close of business
on the Redemption Record Date. The Ordinary Shares being redeemed
will be disabled in CREST after close of business on the Redemption
Record Date and the Old ISIN will expire. The Ordinary Shares being
redeemed will be cancelled and all proceeds of the Redemption will
be paid in US Dollars on or around the Redemption Payment Date.
The new ISIN number IM00BD3D1V47 (the "New ISIN"), in respect of
the remaining Shares which have not been redeemed, will be enabled
and available for transactions from 08:00 on 26 July 2018. CREST
will automatically transform any open transactions as at the
Redemption Date into the New ISIN.
Expected timetable:
Redemption Record Date 25 July 2018
Redemption Date and new ISIN 26 July 2018
enabled
Redemption Payment Date (on 31 July 2018
or around)
Terms not defined in this announcement shall have the same
meaning as those defined in the Circular.
For more information, please visit www.terracapitalplc.com or
contact:
Galileo Fund Services Limited (Administrator)
Frazer Pickering
+44 1624 692600
Panmure Gordon (UK) Limited (Nominated adviser and corporate
broker)
Jonathan Becher
+44 20 7886 2500
Terra Capital plc.
Ian Dungate, Director
+44 1624 692600
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
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July 20, 2018 02:00 ET (06:00 GMT)
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