Result of Placing

RNS Number : 7464S

Schroder BSC Social Impact Trust

18 November 2021

 

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18 November 2021

Schroder BSC Social Impact Trust plc

Result of Placing

The Board of Schroder BSC Social Impact Trust plc ("SBSI" or the "Company") is pleased to announce that the Company has raised £10.8 million pursuant to the placing (the "Placing") announced on 2 November 2021 (the "Placing Announcement"). Accordingly, the Company will issue a total of 10,316,586 New Ordinary Shares at the placing price of 105 pence per New Ordinary Share.

SBSI intends to use the net proceeds of the Placing to invest in a near term pipeline of attractive opportunities in line with the Company's investment objective and investment policy.

Applications have been made to the Financial Conduct Authority for admission of 10,316,586 New Ordinary Shares to the premium segment of the Official List and to the London Stock Exchange for admission to trading of the New Ordinary 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 November 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, save for the dividend declared by the Company on 21 October 2021 which will be paid on 3 December 2021.

Immediately following Admission, the Company's issued share capital will consist of 85,316,586 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.

Susannah Nicklin, Chair of the Company, commented:

"We are delighted to have raised additional capital which can be invested in new and existing projects that assist in addressing many deep-rooted social issues, including homelessness, uneven health outcomes, rising income inequality and unequal life opportunities. The Company has made good progress over the 12 months since launch having made investments supporting over 100 front-line organisations and delivering attractive returns for shareholders. We would like to thank shareholders for their continued support and welcome new investors to the Company."

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Placing Announcement, which can be found on SBSI's webpage: www.schroders.com/SBSI.

For further information please contact:

Schroders
John Spedding Jonathon McManus Estelle Bibby (Press)	020 7658 3206 020 7658 4667 020 7658 3431
Big Society Capital
Georgette Harrison/Emma Hickinbotham, Senior Communications Directors (job share) James Westhead, Head of Engagement	[e-mail] [e-mail]
Winterflood Securities Limited	020 3100 0000
Darren Willis (Corporate Sales) Neil Langford (Corporate Finance) Hande Derinkok (Corporate Finance)

 

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