Result of Placing and WRAP Retail Offer

Odyssean Investment Trust PLC

18 July 2024

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

18 July 2024

Odyssean Investment Trust plc

Result of Placing and WRAP Retail Offer

The Board of Odyssean Investment Trust plc ("OIT" or the "Company") is pleased to announce the successful completion of the placing (the "Placing") and the WRAP retail offer (the "WRAP Retail Offer") (the Placing and WRAP Retail Offer together, the "Fundraising"), raising gross proceeds of £11.4 million.

The Company will issue, subject to Admission (defined below), a total of 6,542,159 new ordinary shares of 1 penny each in the capital of the Company ("Shares") (the "New Shares") at a price of 174 pence per New Share (the "Issue Price"), representing a 1.0% premium to the cum-income NAV per Share as at 16 July 2024, being the last published NAV per Share prior to the close of the Fundraising, as announced yesterday.

6,181,118 New Shares will be issued pursuant to the Placing and 361,041 New Shares will be issued pursuant to the WRAP Retail Offer.

Admission and Settlement

Applications have been made to the Financial Conduct Authority for admission of the New Shares to the premium segment of the Official List and to the London Stock Exchange for admission to trading of the New Shares on its main market for listed securities ("Admission").  It is expected that Admission will become effective at or around 8.00 a.m. on 22 July 2024 and that dealings in the New Shares will commence at that time.

The New Shares will, when issued, be credited as fully paid and rank pari passu with the existing Shares, including the right to receive all future dividends and distributions declared, made or paid, with a record date on or after the date of Admission.

Immediately following Admission, the Company's issued share capital will consist of 130,069,212 Shares with voting rights. This figure may be used by shareholders in determining the denominator for the calculation by which they will establish 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 Placing and the WRAP Retail Offer are conditional on Admission becoming effective. 

For further information please contact:

Frostrow Capital LLP (Company Secretary) Mark Pope	[phone]
Odyssean Capital LLP (Portfolio Manager) Stuart Widdowson	[phone]
Quill PR (Financial PR)	[phone]
Sarah Gibbons-Cook
Winterflood Securities Limited	[phone]
Neil Langford Joe Winkley Darren Willis Hugh Middleton
Winterflood Retail Access Platform Andrew Stancliffe Sophia Bechev	[e-mail] [phone]

The Company's LEI is: 213800RWVAQJKXYHSZ74

IMPORTANT NOTICE

The content of this announcement has been prepared by, and is the sole responsibility of, Odyssean Investment Trust plc.

The information contained in this announcement is given at the date of its publication and is subject to updating, revision and amendment from time to time. Neither the content of the Company's website nor any website accessible by hyperlinks to the Company's website is incorporated in, or forms part of, this announcement.

Winterflood, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Winterflood or advice to any other person in relation to the matters contained herein.

The shares of the Company have not been, nor will they be, registered under the US Securities Act of 1933, as amended, or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Australia, Canada, Japan, New Zealand or South Africa. Further, the Company has not been and will not be registered under the US Investment Company Act of 1940, as amended. Subject to certain exceptions, the shares of the Company may not be offered or sold in any member state of the EU, the United States of America, Canada, Australia, Japan, New Zealand or South Africa or to or for the account or benefit of any national, resident or citizen of any member state of the EU, Canada, Australia, Japan, New Zealand or South Africa or any person located in the United States. The Placing and the distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, strategy, plans, proposed acquisitions and objectives are forward-looking statements.

Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These forward-looking statements speak only as at the date of this announcement. The Company, the Investment Manager and Winterflood expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

END