Initial Capital Distribution Update

GCP Asset Backed Income Fund Ltd

11 June 2024

 

GCP Asset Backed Income Fund Limited

("GABI" or the "Company")

LEI: 213800FBBZCQMP73A815

Initial Capital Distribution Update

11 June 2024

The Board announces that in connection with the initial capital distribution announced on 3 June 2024, the Company has compulsory redeemed as at close of business on 10 June 2024 (the "Redemption Date") on a pro rate basis 159,609,669 ordinary shares at a price of 89.66875 pence per share, which was approximately 37.5% of the Company's ordinary shares in issue.

Fractions of ordinary shares produced by the applicable redemption ratio have not been redeemed and therefore the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.

Payments of redemption monies are expected to be effected either through CREST (in the case of ordinary shares held in uncertificated form) or by cheque (in the case of ordinary shares held in certificated form) by 24 June 2024. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to certificated shareholders by 24 June 2024.

Following the redemption, the Company has 266,016,390 ordinary shares in issue. Therefore, the total number of voting rights is 266,016,390 and may be used by shareholders as the denominator for determining if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

The new ISIN, JE00BMFX6989 (the "New ISIN"), in respect of the remaining shares which have not been redeemed, has been enabled and is available for transactions from 8.00 a.m. on 11 June 2024. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.

For further information, please contact:

GCP Asset Backed Income Fund Limited Alex Ohlsson, Chairman	[phone]
Barclays Bank PLC, acting through its Investment Bank - Financial Adviser and Corporate Broker Adrian Beidas Callum West Stuart Muress (Corporate Broking)	[phone] [e-mail]
Gravis Capital Management Limited - Investment Manger Philip Kent Anthony Curl Cameron Gardener	[phone]
Buchanan/Quill - Media Enquiries Helen Tarbet Henry Wilson George Beale	[phone]

Notes to the Editor

About GABI

GCP Asset Backed Income Fund Limited is a closed ended investment company. Its shares are traded on the Premium Segment of the Main Market of the London Stock Exchange. Its investment objective is to undertake a managed wind-down of the Company and realise all existing assets in the Company's portfolio in an orderly manner.

The Company's portfolio comprises a diversified portfolio of predominantly UK based asset backed loans which are secured against contracted, predictable medium to long term cash flows and/or physical assets.

 

END