Result of Placing

RNS Number : 3414A

Polar Capital Global Financials Tst

01 February 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY INVESTMENTS IN ANY JURISDICTION.

1 February 2022

Polar Capital Global Financials Trust plc

LEI: 549300G5SWN8EP2P4U41

RESULT OF SUBSEQUENT PLACING

Further to the announcement on 26 January 2022, the Board of Polar Capital Global Financials Trust plc (the "Company") is pleased to announce that the Company has raised gross proceeds of £29.4 million through the issue of 16,869,893 new ordinary shares ("New Ordinary Shares") at 174.31 pence per New Ordinary Share (the "Placing Price"). The Placing Price represented a premium of 1.5 per cent. to the unaudited net asset value, including current year income, per Ordinary Share as at close of business on 31 January 2022.

The New Ordinary Shares were issued under the Company's Placing Programme as set out in the Company's prospectus dated 12 May 2021 ("Prospectus").

The net proceeds of the Placing are intended to be invested further in the global financial sector in accordance with the Company's investment objective.

Stifel Nicolaus Europe Limited acted as Sole Bookrunner in relation to the Placing.

Following settlement of the Placing, the Company has authority under the terms of the Prospectus to issue under the Placing Programme a further 361,130,107 C or Ordinary Shares should there be continued demand in the market.

Admission

An application has been made in respect of the 16,869,893 New Ordinary Shares to be 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 at 8.00 a.m. (London time) on 3 February 2022. The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu with the existing Ordinary Shares.

Total voting rights

The number of Ordinary Shares that the Company will have in issue and the total voting rights of the Company following the Placing is 311,349,893. The Company currently has no shares held in treasury. This figure 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 a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules.

Contact details for queries:

Polar Capital Global Financials Trust Plc Chairman: Robert Kyprianou Company Secretary: Tracey Lago, FCG Tel: [phone]

Polar Capital LLP Sales: John (Reg) Regnier-Wilson Co-Investment Manager: Nick Brind Tel: [phone]

Stifel Nicolaus Europe Limited Corporate: Mark Bloomfield Jonathan Wilkes-Green Jack McAlpine Sales: Phil Hopkins Jonathan Crabtree Hugh Middleton Tel: [phone]

 

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