Exercise of Subscription Shares and TVR

RNS Number : 2769D

Cordiant Digital Infrastructure Ltd

01 March 2022

 

LEI: 213800T8RBBWZQ7FTF84

1 March 2022

Cordiant Digital Infrastructure Limited

(the "Company")

EXERCISE OF SUBSCRIPTION SHARES

and

TOTAL VOTING RIGHTS

The Company announces that it has today conditionally allotted 119,457 new ordinary shares of no par value ("Ordinary Shares"), each at a price of £1.075 per share following the exercise of the subscription rights attaching to 119,457 of the Company's issued subscription shares of no par value each ("Subscription Shares"). The new Ordinary Shares have been issued conditionally upon admission to trading on the Specialist Fund Segment of the London Stock Exchange plc's main market ("Admission"). An application for Admission will be made to the London Stock Exchange plc and it is expected that Admission will occur at 8.00 a.m. on 7 March 2022. Following Admission, the new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue.

Those Subscription Shares that have been exercised have been redeemed and cancelled by the Company for nil value with effect from 1 March 2022.  There remain 6,435,071 Subscription Shares in issue.

Further exercise of subscription rights

Subscription Shares may be exercised in February and August each year until February 2026 (being the Final Subscription Date). The next Subscription Date for the holders of Subscription Shares will therefore be in August 2022. The Subscription Price will be £1.1731 per share, adjusted for cumulative dividends paid to Ordinary Shares up to the Subscription Date.  Details of this Subscription Date and future Subscription Dates are set out below.

The last date for the exercise of Subscription shares in each month	Applicable subscription date for the relevant month	Proposed admission date of new ordinary shares	Headline price (to which cumulative dividends are taken off when known)	Adjusted price as at 1 March 2022
16/08/2022	31/08/2022	07/09/2022	£1.1881	£1.1731
14/02/2023	28/02/2023	07/03/2023	£1.1881	N/A
16/08/2023	31/08/2023	07/09/2023	£1.2950	N/A
15/02/2024	29/02/2024	07/03/2024	£1.2950	N/A
15/08/2024	30/08/2024	06/09/2024	£1.4116	N/A
14/02/2025	28/02/2025	07/03/2025	£1.4116	N/A
14/08/2025	29/08/2025	05/09/2025	£1.5386	N/A
13/02/2026	27/02/2026	06/03/2026	£1.5386	N/A

In relation to exercise of the Subscription Shares, copies of the Certificated Subscription Notice (for use by holders holding subscription shares in certificated form) and the Supplementary Subscription Notice (for use, if required, by holders holding subscription shares in CREST) are available for download from the Company's website at www.cordiantdigitaltrust.com .

Total voting rights

Following Admission, the total number of Ordinary Shares in issue will be 773,288,394, each with equal voting rights.  In addition, the Company will have 6,435,071 Subscription Shares in issue, with no voting rights attached.  No Shares are held in treasury.  Following Admission, the total number of voting rights in the Company will be 773,288,394.

Shareholders should use the figure of 773,288,394 as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms shall have the same meaning attributed to them in the Company's prospectus dated 29 January 2021 (the "Prospectus") unless otherwise defined in this announcement.

For further information, please contact:

Cordiant Digital Infrastructure Management Ltd

Investment Manager

Stephen Foss, Managing Director      [phone]

Ocorian Administration (Guernsey) Limited

Company Secretary and Administrator

Patrick Ogier  [phone]

Eimear Coleman

Investec Bank plc   [phone]

Joint Corporate Broker

Tom Skinner (Corporate Broking) 

Lucy Lewis, Denis Flanagan (Corporate Finance)   

Jefferies International Limited  [phone]

Joint Corporate Broker

Stuart Klein

Gaudi Le Roux

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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