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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Highbridge Multi-strategy Fund Limited | LSE:HMSF | London | Ordinary Share | GB00B13YVW48 | ORD NPV GBP |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 207.00 | 207.00 | 209.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHTCF
RNS Number : 3103R
Highbridge Tactical Credit Fund Ltd
28 October 2019
28 October 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR ANY COPY OF IT. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Highbridge Tactical Credit Fund Limited
(the "Company")
Update from Manager
The Board has received an update from Highbridge, the Company's Investment Manager, in respect of progress made by Highbridge in managing down exposure in the Highbridge Multi-Strategy Fund following Highbridge's decision to refocus its business around its credit strategies.
The Company has to date received, through the return of cash and receipt of dividends-in-kind in the Highbridge Tactical Credit Fund, Ltd. ("TCF Feeder"), approximately 75% of the assets of the Highbridge Multi-Strategy Master Fund, L.P. attributable to the Company and to those former shareholders of the Company who redeemed their Shares pursuant to the Initial Cash Exit Offer and/or the Subsequent Cash Exit Offer ("2019 Cash Exit Offers").
In respect of investors' (including the Company's) remaining interest in Highbridge Multi-Strategy Fund, Highbridge has now confirmed that it expects to return the majority of investors' remaining capital by year-end. As a result, the Board expects that the substantial majority of the Company's capital will be invested into TCF Feeder by year-end and that the Company will, once a further cash distribution has been received from Highbridge, be able to make a further payment to former shareholders of the Company who redeemed their Shares pursuant to the 2019 Cash Exit Offers by no later than January 2020.
The update letter from Highbridge is available through the following link:
http://www.rns-pdf.londonstockexchange.com/rns/3103R_1-2019-10-28.pdf
Terms used and not defined in this announcement will bear the meanings given in the circular dated 28 August 2019.
For further information please contact:
Praxis Fund Services Limited
Company Secretary
Tel: +44 (0) 1481 737 600
LEI: 213800397SYHLYFH5961
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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(END) Dow Jones Newswires
October 28, 2019 05:34 ET (09:34 GMT)
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