Results of Share Issue

RNS Number : 6547E

Odyssean Investment Trust PLC

08 July 2021

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA.

LEI: 213800RWVAQJKXYHSZ74

8 July 2021

ODYSSEAN INVESTMENT TRUST PLC

Results of Share Issue

Odyssean Investment Trust PLC ("OIT" or the "Company") is pleased to announce that it has raised £5.83 million through the issue of 3,692,342 ordinary shares ("Ordinary Shares") at a price of 158p per Ordinary Share (the "Issue"), including a total of 3,033,767 Ordinary Shares to be issued to Related Parties.

The net proceeds of the Issue will be invested in accordance with OIT's investment policy.

Applications have been made for 3,692,342 Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission").  It is expected that Admission will become effective at 8.00 a.m. on 13 July 2021 and that dealings in the New Ordinary Shares will commence at that time.

The New Ordinary Shares will, when issued, be credited as fully paid and rank pari passu with the existing Ordinary Shares in the capital of the Company, including the right to receive all future dividends and distributions declared, made or paid.

Immediately following Admission, the Company's issued share capital will consist of 92,949,553 Ordinary 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 Issue is conditional, among other things, on Admission being effective and the Placing Agreement not being terminated in accordance with its terms. 

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the announcement by OIT at 7:00am on 8 July 2021.

For further information please contact:

Odyssean Capital Stuart Widdowson	[phone]
Winterflood Securities Limited Darren Willis Neil Langford Hande Derinkok	[phone]
Frostrow Capital LLP David Harris	[phone]

About Odyssean Investment Trust PLC

Odyssean Investment Trust PLC   ("OIT") is a closed-ended investment trust that seeks to deliver attractive returns to its shareholders by investing in higher quality businesses and supporting them to become even better. To achieve this the Board has appointed Odyssean Capital LLP ("Portfolio Manager") to manage the portfolio.

OIT invests in a concentrated portfolio of well-researched smaller companies, typically too small for inclusion in the FTSE 250. Constructive corporate engagement is a key part of the Portfolio Manager's approach, drawing on the investment team's lengthy and successful track record in this area.

Further details of the Company can be found on its website www.oitplc.com .

 

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