Result of Tender Offer and Issue

Investment Company PLC

18 July 2023

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (COLLECTIVELY, THE "UNITED STATES"), AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN THE INVESTMENT COMPANY PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF THE INVESTMENT COMPANY PLC.

The information contained within this announcement is considered by The Investment Company plc to constitute inside information pursuant to Article 7 of EU Regulation No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

18 July 2023

The Investment Company plc

(the "Company")

LEI: 2138004PBWN5WM2XST62

Result of Tender Offer and Issue

The Board of The Investment Company plc confirms that 3,980,664 Ordinary Shares were validly tendered pursuant to the Tender Offer, constituting 83.4% of the existing issued share capital of the Company. In addition, the Company has received total commitments of approximately £3.6 million pursuant to the Placing, Offer for Subscription and Intermediaries Offer.

The Issue Price and Tender Price will be calculated on the Calculation Date, being on or around 6.00 p.m. on 18 July 2023 and, in accordance with the indicative timetable, an announcement will be made on 19 July 2023.

Capitalised terms used in this announcement shall have the meanings given in the Prospectus referred to above which is available on the Company's website https://theinvestmentcompanyplc.co.uk/

Expected Timetable

	2023
Calculation Date	6.00 p.m. on 18 July
Announcement of the Tender Price and Issue Price and confirmation of the cancellation of the share premium account and capital redemption reserve, if approved, by the Court	19 July
Repurchase of Ordinary Shares pursuant to the Tender Offer and issue of Ordinary Shares pursuant to the Issue	26 July
Admission and dealings in new Ordinary Shares commence	8.00 a.m. on 26 July
CREST accounts credited with uncertificated Ordinary Shares in respect of the Issue	26 July
Where applicable, definitive Ordinary Share certificates in respect of the Ordinary Shares issued pursuant to the Issue despatched by post in the week commencing*	31 July
* Underlying Applicants who apply to Intermediaries for Ordinary Shares under the Intermediaries Offer will not receive Ordinary Share certificates.

The dates and times specified in the timetable above are subject to the satisfaction of the Continuation Conditions and are subject to change without further notice. All references to times in this announcement are to London time unless otherwise stated. Any changes to the expected Issue timetable will be notified by the Company through a Regulatory Information Service.

Enquiries

The Investment Company Ian Dighé, Chairman	[phone] [e-mail]
Singer Capital Markets - Corporate Broker	[phone]
James Moat / Alex Bond / James Fischer
ISCA Administration Services Limited Company Secretary	[phone]

 

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