Return of Capital to Shareholders

RNS Number : 4971I

Highbridge Tactical Credit Fund Ltd

12 August 2021

 

HIGHBRIDGE TACTICAL CREDIT FUND LIMITED

(the "Company")
Registration No. 44704

Registered Office:
SARNIA HOUSE, LE TRUCHOT, ST PETER PORT,
GUERNSEY GY1 1GR
 

TELEPHONE: [phone]
FACSIMILE: [phone]

12 August 2021

RETURN OF CAPITAL TO SHAREHOLDERS

The Company today announces that it will return £15,188,783.56 (equivalent to £1.24 per share) on 20 August 2021 (the "Redemption Date") by way of a compulsory partial redemption of ordinary shares of NPV ("Shares") ( the "Redemption").

The Redemption will be effected at £2.7513 per Share, being the NAV per Share as at 30 June 2021 and pro rata to holdings of Shares on the register at the close of business on the Redemption Record Date, being 20 August 2021. As at today's date, the Company has 12,249,019* Shares in issue of which nil are held held in treasury. On this basis approximately 45 percent of each registered shareholding would be redeemed on the Redemption Date.

Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares.

All shares that are redeemed will be cancelled with effect from the relevant Redemption Date.  

The Shares will all be disabled in CREST after close of business on the Redemption Date and the existing ISIN number GG00BNNFCF17 (the "Old ISIN") will expire.

The new ISIN number GG00BL6KH658 (the "New ISIN") in respect of the remaining Shares which have not been redeemed will be enabled and available for transactions from and including 23 August 2021.

Up to and including the Redemption Date, Shares will be traded under the Old ISIN and as such, a purchaser of such Shares would have a market claim for a proportion of the redemption proceeds. CREST will automatically transform any open transactions as at the Redemption Date into the New ISIN.

Voting Rights as at 23 August 2021

A further announcement will be made confirming the remaining number of Shares in issue and the total voting rights in the Company once the redemption has been confirmed by the Registrar.

The Board anticipates that the Company will receive future distributions from the Master Fund such that further share redemptions may be declared on a quarterly basis. However, shareholders should note that the Board retains absolute discretion as to the execution, pricing and timing of any returns of capital.

Expected timetable for redemption:

Posting of redemption notice  12/08/2021

Record Date, Redemption Date and expiry of old ISIN number  20/08/2021

New ISIN number enabled  23/08/2021

Redemption monies paid to uncertificated holdings and  31/08/2021

certificated holdings 

LEI: 213800397SYHLYFH5961

*corrected from the figure published by the Company on 28 May 2021 which stated 12,248,943 Shares. Such did not account for fractional differences and rounding by the Registrar when processing the last Redemption undertaken in May 2021, causing the figure for the Company's aggregate issued share capital and total voting rights in issue to be understated in the 28 May announcement by 76 shares.

Enquiries:

Company Registrar

JTC Group

Office: [phone]  

Company Secretary and Administrator

Praxis Fund Services Limited

Office: [phone]

Broker

finnCap

DDI: [phone]

 

END

 

 

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