Cancellation of CISEA Listing

17 January 2014

NEW CITY HIGH YIELD FUND LIMITED

CANCELLATION OF CISEA LISTING

The Company's ordinary shares are admitted to the Official List of the Financial Conduct Authority (the "Primary Listing") and to trading on the London Stock Exchange's main market.  In addition, the Company's ordinary shares are admitted to the Official List of Channel Islands Securities Exchange Authority Limited (the "CISEA") (the "Secondary Listing") and to trading on the CISEA.  

The Board has previously announced, 31 October 2013, the Company's intention to introduce a placing programme to facilitate the issue of new ordinary shares (the "Placing Programme").  The Board expect the prospectus relating to the Placing Programme will be published shortly.  As the Company will currently be required to apply for its ordinary shares to be admitted to listing on each occasion they are issued pursuant to the Placing Programme, the Directors have resolved that the Company's listing structure should be simplified by cancelling the Company's Secondary Listing (the "CISEA De-listing").  In addition, the CISEA De-listing will reduce the Company's costs going forward as it will no longer need to incur the administrative and compliance costs in connection with the maintenance of its Secondary Listing.

An application for the CISEA De-listing will be submitted on 17 January 2014, and it is anticipated that, subject to CISEA Listing and Membership Committee approval, that the CISEA De-listing will take effect at 7:00 a.m. on 22 January 2014.

Enquiries

Martin Cassels

R&H Fund Services Limited

0131 524 6140

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Source: New City High Yield Fund Ltd via Globenewswire

HUG#1755505