Result of Issue

RNS Number : 4061U

Ruffer Investment Company Limited

02 December 2021

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION, TRANSMISSION, FORWARDING OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL APPLICABLE SECURITIES LAWS OR REGULATIONS.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY. THIS ANNOUNCEMENT HAS BEEN ISSUED BY AND IS THE SOLE RESPONSIBILITY OF THE COMPANY.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO.596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN FOR THE PURPOSES OF MAR.

2 December 2021

RUFFER INVESTMENT COMPANY LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 41996)

(the "Company")

Result of Open Offer, Offer for Subscription and Intermediaries Offer

The Board of Ruffer Investment Company Limited is pleased to announce that the Company has raised total gross proceeds of approximately £40.9 million through the issue of 13,787,221 Shares by way of the Open Offer, Offer for Subscription and Intermediaries Offer as set out in the Company's prospectus published on 15 November 2021 (the "Prospectus").

Of the 13,787,221 Shares to be issued by the Company, 10,582,698 Shares will be issued pursuant to the Open Offer (including the Excess Application Facility) and 3,204,523 Shares will be issued pursuant to the Offer for Subscription and the Intermediaries Offer. 

Applications have been made for 13,787,221 Shares to be admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities ("Admission"). The Shares have been allotted conditional on the approval of Shareholders of the Resolution to be proposed at the General Meeting, which has been convened for 12.15 p.m. on Friday, 3 December 2021 (or as soon as practicable thereafter as the 2021 AGM shall have been concluded or adjourned). The Company will make a further announcement tomorrow with the results of the General Meeting. It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. on 6 December 2021.

On Admission, and assuming no further shares are issued by the Company in the intervening period, the Company's issued share capital will consist of 240,575,637 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.

Christopher Russell, Chairman of the Company, commented:

"Having a requirement to publish a prospectus, the Board saw this as a good opportunity to provide current and new shareholders with a convenient route to participate in the Company's growth. The Board is very pleased to welcome the Company's new shareholders and thanks current shareholders for their continued support. In 2021 alone, the Company will have now issued almost 60 million Shares, raising gross proceeds of more than £170 million, reflecting the strong investor interest in the Investment Manager's unique investment approach. At a time when factors such as inflation and Covid-19 have left markets unsettled, we remain confident that the Company's investment philosophy of targeting steady, positive annual returns in all conditions will continue to serve our shareholders well."   

Capitalised terms used but not defined in this announcement have the meanings given in the Prospectus, unless the context otherwise requires.

Enquiries  

Ruffer Investment Company Limited
Chris Russell (Chairman)	Contact via Investec
Ruffer AIFM Limited  (Investment Manager)	[e-mail]
Investec Bank plc  (Sponsor and Financial Adviser)
David Yovichic Denis Flanagan Praxis Fund Services Limited  (Company Secretary) Katrina Rowe	T: 020 7597 4000 T: 01481 737673 [e-mail]

LEI 21380068AHZKY7MKNO47

IMPORTANT NOTICE

Neither this announcement, nor any copy of it, may be taken or transmitted, published or distributed, directly or indirectly, in or into the United States or any other jurisdiction where to do so would constitute a violation of the relevant securities laws of such jurisdiction. This announcement is for information purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy, acquire or subscribe for any shares in the Company in the United States or any other state or jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. Any failure to comply with these restrictions may constitute a violation of securities laws of such jurisdictions.

The Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold, transferred or delivered, directly or indirectly, in or into the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with the securities laws of any state or other jurisdiction of the United States. There will be no public offering of Shares in the United States.

This announcement is an advertisement and not a prospectus. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information contained in the Prospectus. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

The information contained in this announcement is for information purposes only and does not purport to be full or complete. The information contained in this announcement is given at the date of its publication (unless otherwise marked) and is subject to updating, revision and amendment from time to time. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement has been issued by, and is the sole responsibility of, the Company. No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company, Ruffer AIFM Limited (the "Investment Manager") or Investec Bank plc ("Investec") or any of their respective directors, officers, partners, employees, agents or advisers or any other person as to the accuracy or completeness of the information or opinions contained in this announcement and no responsibility or liability is accepted by any of them for any such information or opinions or for any errors, omissions or misstatements, negligence or otherwise in this announcement.

Investec, which is authorised in the United Kingdom by the Prudential Regulation Authority and regulated by the Financial Conduct Authority ("FCA") and the Prudential Regulation Authority, is acting as sponsor to the Company in connection with the Issue and Admission. Investec is not acting for, and will not be responsible to, any person other than the Company for providing the protections afforded to its customers or for advising any other person on the contents of this announcement or on any transaction or arrangement referred to in this announcement. No representation or warranty, express or implied, is made by Investec as to, and no liability is accepted by Investec in respect of, any of the contents of this announcement.

The information in this announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction, or disclosure of this information in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of applicable securities laws and regulations of other jurisdictions.

This announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's current expectations and projections about future events and the Company's future financial condition and performance. These statements, which sometimes use words such as "aim", "anticipate'', "believe", "may", "will", "should", "intend", "plan", "assume'', "estimate", "expect" (or the negative thereof) and words of similar meaning, reflect the current beliefs and expectations of the directors of the Company and/or the Investment Manager and involve known and unknown risks, uncertainties and assumptions, many of which are outside the Company's control and difficult to predict, that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement. The information contained in this announcement speaks only as of the date of this announcement and is subject to change without notice and the Company does not assume any responsibility or obligation to, and does not intend to, update or revise publicly or review any of the information contained to this announcement, whether as a result of new information, future events or otherwise, except to the extent required by the FCA, the London Stock Exchange or applicable law.

Any information in this announcement in respect of past performance (including without limitation past performance of the Company, shares in the Company and/or the Company's portfolio) cannot be relied upon as a guide to future performance. The price of shares and the income from them may fluctuate upwards or downwards and cannot be guaranteed.

 

END

 

 

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