Issue of Equity

RNS Number : 1260S

New City High Yield Fund Limited

15 November 2011

 



15 November 2011

NEW CITY HIGH YIELD FUND LIMITED (THE "COMPANY")

ISSUE OF ORDINARY SHARES

The Company announces that, on 15 November 2011, it issued 16,863,332 new ordinary shares of no par value (the "Ordinary Shares") for cash at a price of 55.05p per share, representing a premium of approximately 2.75 per cent. to the unaudited cum-income net asset value of 53.58p per Ordinary Share as at the close of business on 14 November 2011.  The new Ordinary Shares rank pari passu with the existing issued Ordinary Shares.  Applications have been made for the new Ordinary Shares to be admitted (i) to the premium segment of the Official List of the UK Listing Authority, (ii) to trading on the London Stock Exchange's main market for listed securities, (iii) to the Daily Official List of Channel Islands Stock Exchange, LBG and to trading on Channel Islands Stock Exchange, LBG, and dealings are expected to commence on 17 November 2011.

Following this issue, the Company's issued share capital consists of 220,267,581 Ordinary Shares, none of which are held in treasury.  Accordingly, the total number of voting rights in the Company is 220,267,581.

The above figure (220,267,581) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

Enquiries

Sue Inglis/ Chris Whittingslow	Canaccord Genuity Limited	T: 020 7050 6779 020 7050 6528
Adam Cooke	New City Investment Managers	T: 020 7201 5368
Beth Harris	Threadneedle Communications	T: 020 7653 9853/ 07904 316163

Notes

This announcement is for information purposes only and does not constitute an offer or invitation to acquire or dispose of any securities or investment advice in any jurisdiction.

 

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