Placing under the Placing Programme

RNS Number : 7171D

GCP Infrastructure Investments Ltd

08 July 2016

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN

This announcement is an advertisement and not a prospectus. Any decision to invest in any securities referred to in this announcement must be made exclusively on the basis of the prospectus published by the Company on 18 April 2016 in connection with a placing programme (the "Placing Programme") for ordinary shares of £0.01 each ("Ordinary Shares"), to be admitted to the Premium Listing segment of the Official List of the UK Listing Authority and to trading on the Main Market for listed securities of the London Stock Exchange (the "Prospectus"). A copy of the Prospectus is available for inspection at www.morningstar.co.uk/uk/NSM. This announcement does not constitute a recommendation regarding any securities.

8 July 2016

GCP Infrastructure Investments Limited

(the "Company")

                                                       Placing under the Placing Programme

On 6 July 2016 GCP Infrastructure Investments Limited, the only UK listed fund focused primarily on investments in UK infrastructure debt, announced details of a placing of up to £50 million of new Ordinary Shares under its Placing Programme.

The Board is pleased to announce that the Placing has been significantly oversubscribed. Accordingly, and in light of the investment opportunities available to the Company in the near term, the Board has exercised its discretion to increase the size of the Placing to £75 million through the issue of 64,377,682 new Ordinary Shares, subject to Admission. Scale back has been applied.

The Board, as advised by the Investment Manager, understands that this Placing is the first material issue of shares by an issuer traded on the Main Market of the London Stock Exchange since the UK's referendum on its EU membership. The Board is therefore particularly pleased by this outcome given the volatility in UK equity markets following the referendum. The Investment Manager believes this shows the strength of the continued investor appetite for the Company's investment mandate and objective of providing Shareholders with regular, sustained, long-term distributions.

The Board also notes that applications for c.2.4 million new Ordinary Shares were received from partners and employees of the Investment Manager.

The Placing price per new Ordinary Share was 116.50 pence.

Applications will be made in respect of the 64,377,682 new Ordinary Shares issued pursuant to the Placing to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will become effective and dealings in the new Ordinary Shares will commence on 12 July 2016. When issued, the new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the Company's issued share capital will consist of 659,376,266 Ordinary Shares of £0.01 each. With effect from 12 July 2016, the total number of issued shares with voting rights will be 659,376,266.

The above figure of 659,376,266 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 of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.
 

For further information, please contact:
Gravis Capital Partners LLP Stephen Ellis Rollo Wright Dion Di Miceli	[phone]
Stifel Nicolaus Europe Limited            Neil Winward Mark Bloomfield Tunga Chigovanyika	[phone]
Buchanan Charles Ryland Victoria Hayns	[phone]

Important Information

Members of the public are not eligible to take part in the Placing. This announcement and the terms and conditions referred to herein are directed in the United Kingdom only at persons selected by Stifel Nicolaus Europe Limited who are "investment professionals" falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO") or "high net worth companies, unincorporated associations etc" falling within Article 49(2) of the FPO, or persons to whom it may otherwise be lawfully communicated (all such persons together being referred to as "Relevant Persons"). This announcement and the terms and conditions referred to herein must not be acted on or relied on in the United Kingdom by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to, and will be engaged in only with, persons in the United Kingdom who are Relevant Persons. 

The new Ordinary Shares that are the subject of the Placing are not being offered or sold to any person in the European Union, other than to "qualified investors" as defined in Article 2.1(e) of Directive 2003/71/EC, which includes legal entities which are regulated by the Financial Conduct Authority or entities which are not so regulated whose corporate purpose is solely to invest in securities. 

This announcement is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the "United States"), Australia, Canada, Japan or South Africa or into any other jurisdiction where applicable laws prohibit its release, distribution or publication. This announcement does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States, Australia, Canada, Japan or South Africa or in any other jurisdiction where such offer or sale would be unlawful.  The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the US Investment Company Act of 1940, as amended and may not be offered or sold directly or indirectly in or into the United States or to or for the account or benefit of any US Person (within the meaning of Regulation S under the Securities Act). The securities referred to herein have not been registered under the applicable securities laws of Australia, Canada, Japan or South Africa and, subject to certain exceptions, may not be offered or sold within Australia, Canada, Japan or South Africa or to any national, resident or citizen of Australia, Canada, Japan or South Africa. 

This announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by, Stifel Nicolaus Europe Limited or by any of its affiliates or agents as to or in relation to the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or their advisers and any liability therefore is expressly disclaimed. 

Stifel Nicolaus Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as sole broker and bookrunner to the Company and is acting for no-one else in connection with the Placing and the contents of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Stifel Nicolaus Europe Limited nor for providing advice in connection with the Placing and the contents of this announcement or any other matter referred to herein.

 

END

 

 

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