C Share Conversion and Special Dividend (6645S)

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RNS Number : 6645S

HarbourVest Senior Loans Europe Ltd

24 November 2011

24 November 2011

HARBOURVEST SENIOR LOANS EUROPE LIMITED

C SHARE CONVERSION RATIO AND SPECIAL DIVIDEND

Further to its announcement dated 25 October 2011, HarbourVest Senior Loans Europe Limited ("HSLE" or the "Company") is pleased to announce the following information in relation to the conversion of its C Shares.

Conversion Ratio for C Shares

The Net Asset Values attributable to the Ordinary Shares and the C Shares as at the Calculation Time, being 31 October 2011, were 95.11p per share and 96.07p per share respectively. The Net Asset Value per C Share takes into account the 0.59p special dividend payable on the C Shares, as referred to below. The Conversion Ratio for conversion of the C Shares, as calculated in accordance with the Company's prospectus dated 15 April 2011 (the "Prospectus"), is 1.0101 Ordinary Shares for every one C Share held.

On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 1,010 Ordinary Shares upon Conversion.

Entitlements will be rounded down to the nearest whole share and any fractional entitlements will be aggregated and sold in the market for the benefit of the Company. The Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue.

Further details of the Conversion and rights attaching to the C Shares are set out in the Prospectus. Terms defined in the Prospectus have the same meaning in this announcement unless otherwise defined.

Expected Timetable

The expected timetable for Conversion is as follows:

 
 Record date for Conversion           9 December 2011 
  and C Share register closes 
 Conversion time and dealings         12 December 2011 
  in new Ordinary Shares commence 
                                     ---------------------------- 
 Crediting of CREST accounts          12 December 2011 
  with new Ordinary Shares 
                                     ---------------------------- 
 Share certificates in respect        Week commencing 26 December 
  of new Ordinary Shares despatched    2011 
  (as applicable) 
                                     ---------------------------- 
 

The C Shares will permanently be removed from trading on the London Stock Exchange with effect from the opening of trading at 8.00 a.m. on 12 December 2011. Application will shortly be made to the UK Listing Authority to give effect to the cancellation of the C Shares.

Payment of Special Dividend

As set out in the Prospectus, holders of C Shares will be entitled to a special dividend in respect of income accrued on the C Share Portfolio Assets from 4 May 2011 until the Conversion Date (that is, 12 December 2011). The Board is pleased to announce that a special dividend of 0.59p per C Share will be payable on 12 December 2011 to those holders of C Shares on the register on 2 December 2011.

-ENDS-

For further information:

 
 HarbourVest Senior Loans Europe Limited 
  Corentin du Roy 
  Karim Flitti 
  Tel: [phone] 
 Liberum Capital Limited (Financial Adviser and Broker) 
  Chris Bowman / Richard Bootle 
  Tel: [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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