Notice of General Meeting

RNS Number : 3351X

Craven House Capital PLC

09 August 2018

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Craven House Capital Plc

("Craven House" or the "Company")

Notice of General Meeting

The Company announces that it has today posted a Circular and Notice of General Meeting ("GM") to shareholders of the Company. The GM will be held at 3.00pm on 24 August 2018, at 60 Cannon St, London, EC4N 6JP.

The General Meeting is being held for the purpose of considering and, if thought fit, approving a resolution to grant the Company the general and unconditional authority to purchase and cancel its own ordinary common shares ("Ordinary Shares") within the meaning of Section 693 of the Companies Act 2006 (the "Share Buy-Back").

The Company's share price continues to trade at a significant discount to the Company's most recently published Net Asset Value per share. Management have therefore determined that it is in the best interests of shareholders that the Company be provided the flexibility to buy its own shares as it continues to seek to allocate capital in the most efficient manner. 

The Company is therefore seeking shareholder approval to authorise the directors of the Company to buy up to $5,000,000 of Craven House Ordinary shares, up to a maximum price of up to $10.00 per share, as funds become available, for the purpose of cancelling the shares. 

The Directors and Investment Manager have confirmed that they do not intend to sell any shares to the Company should the Company utilise the buyback authority.

Should the authority to make market purchases of its Ordinary Shares be granted, the Company will announce details of any share purchases in due course.

An electronic copy of the Notice of GM will also be made available on the Company's website www.cravenhousecapital.com

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 For further information please contact:

Craven House Capital Plc Mark Pajak www.Cravenhousecapital.com	Tel:   [phone]
SI Capital Broker Nick Emerson www.sicapital.co.uk	Tel: [phone]
SPARK Advisory Partners Limited Nominated Adviser Matt Davis/Mark Brady www.Sparkadvisorypartners.com	Tel:   [phone]

About Craven House Capital:

The Company's Investing Policy is to invest in or acquire a portfolio of companies, partnerships, joint ventures, businesses or other assets globally in any geographic jurisdiction. The company will invest in both developed and developing markets providing long term patient capital and is often involved in special situations, restructuring, expansion and turn around investments in crisis and transitioning economies.

 

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