Cordiant Digital Infrastructure Ltd Issue of Shares under IM Agreement (1797Q)

TIDMCORD

RNS Number : 1797Q

Cordiant Digital Infrastructure Ltd

24 June 2022

Cordiant Digital Infrastructure Limited

(the "Company")

Issue of ordinary shares under the Investment Management Agreement

and Total Voting Rights

The Company announces that, in accordance with the terms of the investment management agreement between the Company, Cordiant Capital Inc. and Cordiant Digital Infrastructure Management LLP, (the "Investment Management Agreement"), 271,126 ordinary shares each of no par value (the "Shares") will be allotted and issued to Cordiant Digital Infrastructure Management LLP ("CDIM").

Under the terms of the Investment Management Agreement, on a semi-annual basis in respect of the six-month period ending 31 March and 30 September in each year, CDIM is required to apply an amount in aggregate equal to 10 per cent. of the management fee for the relevant six-month period to the acquisition of ordinary shares in the Company. The issue price of 108.6p per ordinary share represents the average of the closing middle market quotations of the ordinary shares for the 20 trading days immediately preceding publication of the net asset value as at 31 March 2022. The new ordinary shares to be issued are subject to a 12-month lock-up period under the terms of the Investment Management Agreement.

Admission

Application has been made for the new ordinary shares to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market. It is expected that dealings in the new ordinary shares will commence at 8.00 a.m. on 29 June 2022 ("Admission").

Following Admission, the beneficial interests of CDIM in the issued share capital of the Company will be as follows:

 
                                    Number of          Percentage 
                                     ordinary shares    of issued share 
                                                        capital 
 Cordiant Digital Infrastructure 
  Management LLP                    425,364            0.055% 
                                   -----------------  ----------------- 
 

Total Voting Rights

In accordance with the FCA's Disclosure and Transparency Rules, the total number of shares in issue on Admission will be as follows:

 
 
              *    773,559,520 ordinary shares. Each ordinary share 
                   carries the right to one vote in relation to all 
                   circumstances at general meetings of the Company; and 
 
             *    6,435,071 subscription shares which have no voting 
                  rights. 
 No shares are held in treasury. 
 

Accordingly, the total voting rights figure will be 773,559,520 and may be used by shareholders and others with notification obligations as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Further information

For further information, please contact:

 
 Cordiant Capital Inc 
  Investment Manager                           [phone] 
 Stephen Foss, Managing Director 
 
  Investec Bank plc 
  Joint Corporate Broker 
 
  Tom Skinner (Corporate Broking) 
  Lucy Lewis (Corporate Finance)                 [phone] 
 
  Jefferies International Limited 
  Joint Corporate Broker 
 
  Stuart Klein 
  Gaudi Le Roux                                  [phone] 
 
  Celicourt 
  Financial Communications Adviser 
 
  Philip Dennis 
  Felicity Winkles                               [phone] 
 
  Ocorian Administration (Guernsey) Limited 
  Company Secretary and Administrator 
 
  Kevin Smith 
  Danielle McCaugherty                           [phone] 
 

Notes to Editors:

Cordiant Digital Infrastructure Limited primarily invests in the core infrastructure of the digital economy - data centres, fibreoptic networks and broadcast and telecommunication towers - "the plumbing of the internet" - in the UK, Europe and North America. Further details of the Company can be found on the Company's website at www.cordiantdigitaltrust.com .

Cordiant Capital Inc., the Company's investment manager, is a sector-focused investment manager with particular expertise and experience in digital infrastructure. Cordiant invests in global infrastructure and real assets, running infrastructure private equity and infrastructure private credit strategies through limited partnership funds and managed accounts. Cordiant's current client base consists of global insurance companies, pension plans and family offices.

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June 24, 2022 10:31 ET (14:31 GMT)