Result of Issue

RNS Number : 4657W

New City High Yield Fund Limited

18 November 2010

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO
THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN

18 November 2010

new city high yield fund limited

RESULT OF PLACING AND PUBLIC OFFER FOR SUBSCRIPTION

AND

ISSUE PRICE

The Board announces that commitments and applications to subscribe for new Ordinary Shares pursuant to the Placing and Public Offer with an aggregate value, at their Issue Price, of £20.1 million and that all commitments and applications will be satisfied in full.

The issue price per Ordinary Share pursuant to the Placing and Public Offer has been calculated in accordance with the Prospectus and is 57.7p. 

Accordingly, and conditional on the Issue becoming unconditional in all respects, approximately 34.8 million Ordinary Shares will be issued by the Company pursuant to the Issue. 

The issue remains conditional on admission of the Ordinary Shares issued pursuant to the Issue being admitted to the premium segment of the Official List and to trading on the London Stock Exchange's Main Market (such admissions are expected to become effective on 23 November 2010).

Enquiries

Sue Inglis/ Chris Whittingslow	Canaccord Genuity Limited	020 7050 6779/ 020 7050 6528
Adam Cooke	New City Investment Managers	020 7201 5368

Notes

Canaccord Genuity Limited is acting for New City High Yield Fund Limited and no one else in connection with the Issue and will not be responsible to anyone other than New City High Yield Fund Limited for providing the protections afforded to clients of Canaccord Genuity Limited or for providing advice in relation to the Issue.

Unless the context otherwise requires, terms used in this announcement shall bear the meanings given to them in the prospectus relating to the Company dated 5 November 2010.

 

END

 

 

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