Net Asset Value(s)

RNS Number : 3714P

Symphony International Holdings Ltd

24 October 2012

 

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

24 October 2012

Net Asset Value

Symphony International Holdings Limited (the "Company")

The Company today announces that, at the close of business on 30 September 2012, the Company's unaudited Net Asset Value was US$462,672,184 (30 June 2012: US$430,144,792) representing a Net Asset Value per ordinary share of US$1.3353 (30 June 2012: US$1.2414).

On 4 October 2012 the Company announced a fully underwritten 0.481 for 1 Rights Issue at US$0.60 per new ordinary share to raise proceeds of approximately US$100 million through the issue of 166,665,997 new ordinary shares (the "Rights Issue").

As set out in the prospectus published by the Company on 4 October 2012 in relation to the Rights Issue, Symphony Investment Managers Limited, the Investment Manager, was eligible to receive up to 2,059,746 further ordinary shares. The Company issued these additional 2,059,745 ordinary shares on 23 October 2012, credited as fully paid, to the Investment Manager, increasing the Company's fully paid issued share capital from 513,164,953 ordinary shares to 515,224,698 ordinary shares. Application shall be made in due course to the UK Listing Authority and the London Stock Exchange for the additional 2,059,745 ordinary shares to be listed on the "standard" segment of the Official List and to be admitted to trading on the London Stock Exchange's main market for listed securities, respectively.

The additional 2,059,745 ordinary shares were issued as part of the contractual arrangements with the Investment Manager. If these shares had been in issue as at 30 September 2012, SIHL's NAV per share would decrease by US$0.0079 per share from US$1.3353 to US$1.3274 per share on that date.

The net proceeds of the Rights Issue was $93.0 million ("Net Proceeds"). At 30 September 2012, the pro forma NAV, taking into account the Net Proceeds, was US$555,670,252. The proforma share capital (taking into account the Rights Issue and the 2,059,745 ordinary shares described above) was 515,224,698, and the pro-forma NAV per ordinary share was therefore US$1.0785.  

For further information, please contact:
Sunil Chandiramani - Symphony Asia Limited (Tel: [phone])

IMPORTANT INFORMATION

This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States or any other jurisdiction into which the publication or distribution would be unlawful. These materials do not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful. The securities referred to in this document have not been and will not be registered under the securities laws of such jurisdictions and may not be sold, resold, taken up, transferred, delivered or distributed, directly or indirectly, within such jurisdictions.

No representation or warranty is made by the Company as to the accuracy or completeness of the information contained in this announcement and no liability will be accepted for any loss arising from its use.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

This announcement is not an offer of securities for sale into the United States. The Company's securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

Statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this document is subject to change without notice and, except as required by applicable law, neither the Company nor the Investment Manager assumes any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

The Company and the Investment Manager are not associated or affiliated with any other fund managers whose names include "Symphony", including, without limitation, Symphony Financial Partners Co., Ltd.

End of Announcement

 

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