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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gcp Asset Backed Income Fund Limited | LSE:GABI | London | Ordinary Share | JE00BYXX8B08 | ORD NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.80 | 1.18% | 68.80 | 68.00 | 68.80 | 68.80 | 68.00 | 68.80 | 189,899 | 11:20:48 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Trust,ex Ed,religious,charty | 15.18M | 7.69M | 0.0181 | 37.57 | 289.43M |
From Apr 2019 to Apr 2024
TIDMGABI TIDMGABC
RNS Number : 3238H
GCP Asset Backed Income Fund Ltd
12 March 2018
GCP Asset Backed Income Fund Limited
("GCP Asset Backed" or the "Company")
LEI 213800FBBZCQMP73A815
Conversion of C Shares
The Directors of GCP Asset Backed, which invests in asset backed loans, are pleased to announce the Company has now invested and entered into legally binding commitments for over 90% of the proceeds of the recent C share issue and within the six month timeframe set out in the prospectus published by the Company on 25 September 2017.
The monies have been committed across 14 loans, including new loans to sectors such as energy storage and regulated water thereby providing further diversification to the Company's investment portfolio.
Consequently, the Directors have determined that the conversion of the C shares will take place, in accordance with the provisions of the Articles and as summarised in the prospectus.
It is currently expected that conversion will occur in accordance with the following timetable:
Conversion Calculation Date 31 March Announcement of Conversion Ratio 16 April Conversion Date 17 April
Dealings in the new ordinary shares arising on conversion are currently expected to commence, and the listing of the C shares to be cancelled, at 8.00 am on 17 April 2018.
On this basis the Company will make an application for the new ordinary shares to be admitted to the Official List and to trading on the London Stock Exchange from the same time and date.
This announcement contains inside information.
For further information, please contact:
Gravis Capital Management Limited + 44 (0) 20 3405 8500 David Conlon david.conlon@graviscapital.com Philip Kent philip.kent@graviscapital.com Dion Di Miceli dion.dimiceli@graviscapital.com Cenkos Securities plc +44 (0)20 7397 8900 Tom Scrivens tscrivens@cenkos.com Oliver Packard opackard@cenkos.com Sapna Shah sshah@cenkos.com Buchanan +44 (0)20 7466 5000 Charles Ryland charlesr@buchanan.uk.com Vicky Hayns victoriah@buchanan.uk.com
Notes to Editors
The Company
The Company is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.
The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
March 12, 2018 03:00 ET (07:00 GMT)
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